Considering home renovation franchises? The market is HOT right now. MarketWatch predicts the home improvement industry will be worth $500 billion by 2026. These types of franchises generally have lower investment costs, are home-based businesses, and offer free advertising through word-of-mouth referrals.
Learn different types of home renovation businesses you can open and how to determine which is best for you.
Kitchen Remodeling
Kitchens are the most renovated room in the house. Modernizing them is a huge priority for most homeowners. Kitchens are considered the heart of the home, from cooking family dinners to inviting friends to congregate for a cocktail hour. As a kitchen renovation franchise owner, you donโt have to worry about running out of projects. According to the National Association of Home Builders, the median age of a home in the U.S. is 39 years. Also, homeowners can often recoup much of their renovation costs because kitchen remodels boost home values.
Angi finds the average kitchen remodel is around $25,898, so that high price tag can sometimes make it a difficult sale for remodeling businesses. On top of that, your projects can be long and intrusive in your clientsโ space. Customers can become easily frustrated when something takes longer than expected.
Luckily, you can avoid all that by franchising with N-Hance. As the No. 1 wood refinishing franchise, we focus on giving kitchens a facelift by simply renewing cabinets, floors, or other wood surfaces. Our Lightspeedยฎ process cures the finish immediately, allowing us to complete our projects in days. In contrast, our competitors can take weeks to complete their work and let it dry. As a result, our services are a fraction of the cost.
Bathroom Remodeling
Bathrooms are the most used rooms in every room. Homeowners canโt hide their bathrooms from their guests, so itโs no wonder itโs the second-most popular room to renovate.
Unlike kitchen remodeling companies that can specialize in various methods like cabinet refinishing, countertops, or complete kitchen remodels, bathroom remodeling allows for less diversity. Because of this, it creates more direct competition.
Another benefit of N-Hance is that since we focus on cabinet refinishing, you can also capitalize on bathroom remodels. Help your clients breathe new life into their powder rooms with newly refinished cabinets that instantly update the space.
Window Treatments
There is a constant in every home and building in America — windows. So, itโd make sense that a popular home renovation franchise would be window dressings. Itโs a work-from-home business where youโll need minimal storage. Youโll order the products by request from customers.
The downfall to this kind of business is that new construction is slowing in America. As that occurs, fewer and fewer people will need blinds installed. This could leave you trying to upsell customers on what they already have in their homes.
Home Additions
Go big or go home! Thatโs what owners of home additions think. This home renovation business involves large projects that take time. As an owner, youโll need to sell fewer projects because the average remodeling job revenue will be considerably more. But these projects are heavily involved. They can look like converting a garage into a room or adding a room onto a house. Youโll want some contracting or carpentry experience.
Youโll need to hire employees, which can be difficult in todayโs job market. In bad economic times, many homeowners will make do with what they have, making it difficult to sell your services that often come with hefty price tags.
Property Repairs & Renovation
Accidents and disasters inside homes happen without warning. Often homeowners must take action to save their property quickly. These factors make repair and renovation businesses a good idea. But, because youโre relying on accidents to occur, your workload can be inconsistent, making it hard to plan financially. Youโll also work with insurance companies to pay for projects, and that can mean a lot of red tape.
Flooring Installation & Repairs
Everyoneโs home has flooring, whether itโs carpet or wood. Unfortunately, no matter how hard you try, that flooring gets beat up daily as you, your family, and your pets continuously walk across it.
Donโt pigeonhole yourself in flooring. With N-Hance, itโs a part of your list of services. For example, when selling a cabinet refinishing project, you might notice that the customerโs hardwood floors are also beaten up. Itโs an easy project to add and increase your customerโs home value. And just like our cabinet refinishing process, the flooring refinishing is done the same way, generally within a day and with little to no dust.
Start Your Own Renovation Business with N-Hance
As you can see, several types of renovation franchises are out there. By investing in N-Hance, youโre not only offering the services of a cabinet refinishing franchise but bathroom and flooring renovations too.
Donโt pass up the chance to earn multiple revenue streams with the premier wood refinishing brand. Begin the process of joining our brand by requesting franchise information.
