Are you looking for new franchising opportunities? It may be time to consider the home improvement sector. With some hard work and a little creativity, nearly any franchisee can make this vertical work. Not only do you get the thrill of running your own business, but you also have the satisfaction of helping people improve their homes and lives.
The Home Improvement Sector Is Rich for New Franchising Opportunities
Since Covid-19, home equates to far more than just a place to eat and sleep. It is now, for many, a multi-purpose haven that serves as an office, classroom, and family gathering place. This means greater attention than ever is on a home’s aesthetics, from the carpet and paint to lighting and air quality. People want to be comfortable in a pleasing space, and if it’s not up to par, they’ll take the steps necessary to make it right.
Home improvement also means different things to different people; a franchise in this sector can thus appeal to a wide audience. For instance, one person may want to improve home ventilation with efficient fan systems; another may want tubular skylights in the kitchen or bathroom (or any other room). Solatube offers all of these products in addition to beautiful add-ons and accessories so clients can create the spaces they want.
Ability to Thrive in Any Real Estate Market
The housing market tends to bounce from a surplus to a deficit of homes and buyers in the market. This nature leads many homeowners to stay put rather than commit to a move. But these same people want to keep up with housing trends, making home improvement a natural choice. A few minor changes can reshape a tired space into one that is new and fresh.
Similarly, those ready to put their homes up for sale seek home improvement providers to make the most of every space. Small changes can equate to big returns on selling price, and franchise owners have long enjoyed this spread of awareness. You can therefore market your services to any homeowner at any stage of their ownership.
You Can Use Your Design or Handy-Man Skills
If you’re known among friends and family as able to complete handy-man projects, you know how gratifying this work can be. You can enjoy an even greater sense of accomplishment by using these skills in a high-demand business – one that you own. The same is true of your interior design skills; Solatube allows you to put your aptitude to work in a way that can transform a room.
If you lack this experience, don’t worry. The most important trait is a desire to learn; with that in place, we can empower you to take the next steps. Our extensive training includes product information, office/showroom setup, and best installation practices. You’ll even be equipped with marketing and lead generation techniques to create a well-rounded business.
Multiple Revenue Streams
Some franchises focus on one product, and they do so very successfully. But home improvement opportunities often provide multiple revenue streams to increase your chances of appealing to clients. At Solatube, we offer a variety of unique products with different installation and replacement options. And with solutions in both air ventilation and skylight segments, you can cross-sell to clients as you already upgrade their homes.
You Can Put Your Business Acumen to Work
We’re going to stay on this topic for another moment. Whether you have home improvement experience or not, a franchise in this vertical allows you to put your business and management skills to good use. Long after your formal training is completed, you can take the reins of your company and use fundamental business knowledge to build your team and network in your community.
Now is a good time to remind you a franchise uses an already-established model. You don’t need to reinvent the wheel but simply put into place the processes we show you. Hard work is still essential, but when you’re backed by a brand name with a great reputation, you can revel in knowing some of that work is already done for you.
A key aspect of franchise success is longevity; you need a product or products that will be as popular today as they are in years to come. Home improvement ticks this box; it appeals to both the baby boomer and millennial generations in equal proportion. The former seek to make their homes as comfortable as possible, while the latter want to renovate older, more affordable homes.
Another aspect to keep in mind is home improvement never goes out of style. It’s not a trend that comes and goes; instead, it’s an important facet of homeownership that nearly everyone thinks about at least once. Equally important, solutions that can be easily and rapidly installed appeal even more to homeowners. Many don’t want to wait days or weeks to see results, and home improvement often provides that sense of instant gratification.
(Nearly) Impervious to Economic Bumps
While there are no guarantees, a franchise that delivers products and services people always need – such as a garage fan – can steadily weather economic bumps. Homes always need renovations and repairs, regardless of the external state of affairs, and this fact continues to drive the home improvement industry. Consider these statistics:
- For every $1 spent on maintenance, homeowners also spend $5 on improvements
- In 2020, households spent an average of $13,138 on home services projects
- 41% of home improvement consumers want to make their homes better suited to their lifestyles
Homeowners also need reliable service providers. They want to ensure their projects are completed as expected, on time, and within budget. They’re not looking for one-off companies, but partners who can help them care for their homes well into the future.
New franchising opportunities can be found in almost every sector, from food to consulting. But home improvement is unique for the reasons we’ve discussed here; universal appeal, services people always need, and multiple income streams, as a short recap. For more information about the business opportunities we provide, contact Solatube Home Franchising today.