Can You Make Money in a Home Remodeling Business?
The home remodeling industry is experiencing growing demand from rising housing prices, spending on home improvement projects and disaster related expenses
Home remodeling is a $450 billion market – and there are many reasons why the industry continues to flourish. The rise of popularity in home remodeling television, such as HGTV, and the DIY blog-o-sphere, has positioned home remodeling as a dynamic part of mainstream culture. As American housing prices continue to rise, and homeowner spending on home improvement projects continues to increase, the home remodeling industry is healthy, vibrant and growing. This means now is a great time for entrepreneurs to invest in a home remodeling business.
How Big is the Demand for Home Remodeling?
One factor contributing to the projected demand is that homeowners are spending more on improvements caused by disasters, according to the Joint Center for Housing Studies of Harvard University’s report “Improving America’s Housing 2019.” Home remodeling expenses totaled $14 billion in 2017, more than double the $5.9 billion spent in 1999.
“When the Great Recession hit, a surge in rental housing demand sparked a boom in multifamily construction,” the JCHSHU reports. “Owners of existing rental properties responded to the growing demand for updated but more affordable units by investing in significant upgrades to their buildings, lifting the rental share of residential improvement and repair spending from about 20% in 2007 to over 30% in 2016 and 2017.”
There are plenty of wood surfaces in the U.S. to be restored, and Americans have an interest in reinvesting in their homes.
How Does N-Hance Deliver on Home Remodeling Solutions?
Since our founding in 2001, N-Hance has since become America’s fastest-growing wood refinishing franchise with over 500 locations across the country. We excel at delivering solutions for kitchen cabinets, and hardwood floors with a quick-turnaround and at a fraction of the cost compared to replacement or traditional refinishing.
Although our wood refinishing franchise is well-known for its innovative cabinet and floor renewal services, our franchise owners are not limited in the services he or she can offer. Our unique process can be used to renew virtually any wood surface, including furniture, tables, doors and more. Ultimately, our premier services give new life to customers’ wood surfaces, providing each and every customer renewed pride in their homes.
How do we do it? After making significant investments in research, we’ve developed an extensive proprietary product line that we’ve continued to advance for the past decade, and our patented technology is revolutionizing the wood refinishing segment. Our powerful Lightspeed® U.V. curing technology shortens the refinishing process and produces less dust, mess and odor than traditional methods, making it ideal for homes and businesses.
“We’ve discovered that people don’t want to spend a lot of money on cabinets or on their floors, they just want a new look thKelly Jensen, President of N-Hance. “Because of our nationwide reputation for having exceptional, professional customer service, our brand has built a glowing reputation with customers. Our services are affordable, fast and beautiful, and they allow our customers to spend less of their hard-earned money on a home remodeling project, while enhancing their homes for better enjoyment with the people they love.”
How Does N-Hance Compare to the Competition?
Unlike our competitors, N-Hance is experiencing rapid growth. Our franchise owners are proving that our award-winning business is a hit with consumers, easy-to-run and easy-to-scale, and that the investment opportunity has the potential for high returns. After years of growth across the nation, N-Hance isn’t slowing down anytime soon. We still have plenty of prime markets for entrepreneurs to enter and fulfill his or her dreams of small business ownership with an N-Hance franchise.
“Regardless of the times, homeowners want to save money, and N-Hance helps save our customers thousands of dollars,” says D’Wayne Tanner, SVP of Franchise Development for N-Hance. “The cost to replace kitchen cabinets can start at $20,000 to $30,000, and refacing kitchen cabinets can range from $15,000 to $20,000. N-Hance, on the other hand, offers beautifully restored cabinets for $3,000 to $7,000, which means that our customers still have money left over to spend on additional home projects.”
“Even in prosperous economic times, homeowners still want to save money, and N-Hance helps save our customers thousands of dollars,” says D’Wayne Tanner, SVP of Franchise Development for N-Hance. “The cost to replace kitchen cabinets can start at $20,000 to $30,000, and refacing kitchen cabinets can range from $15,000 to $20,000. N-Hance, on the other hand, offers beautifully restored cabinets for $3,000 to $7,000, which means that our customers still have money left over to spend on additional home projects.”
Do I Need Experience to Own a Home Remodeling Business?
If you’ve never worked in the home remodeling industry, don’t fret. You can still own a home remodeling business. When it comes to this industry, there’s no shortage of customers. Plenty of homeowners want their homes to be more comfortable or redesigned with a new look.
In fact, kitchen remodels give homeowners the greatest sense of happiness and satisfaction when compared to other home upgrades, according to the 2019 Remodeling Impact Report by the National Association of the Remodeling Industry (NARI) and the National Association of Realtors (NAR).
“People want to design their homes around their lifestyle, whatever that is,” says Sherry Minson, executive director of NARI Central Virginia, adding that there’s a common thread among empty nester’s in Richmond, Virginia. “Their kids are in or through college and they’re ready to spend some money on themselves. They’re putting in really nice master bathrooms or high-end kitchens, if they’re a family who cooks together or loves to entertain.”
Although entrepreneurs may not need any industry experience to own and operate a home remodeling business, it helps to have access to resources and tools that franchisors provide.
This is where N-Hance shines. As an N-Hance franchise owner, from the moment you sign your franchise agreement you will never be alone in business. Our rapidly expanding home remodeling business will provide you with comprehensive training and robust support to ensure your business thrives over the long-term. All we recommend is that you have a proven track record of leadership experience, are confident in your ability to manage a team, and have an entrepreneurial spirit as well as the drive to follow our proven business model as you bring N-Hance to your community.
N-Hance is committed to making your home remodeling business successful
N-Hance is committed to helping franchise owners thrive in business, which is why we focus so heavily on ongoing training and support.
Upon signing your franchise agreement, you will work with our Quick-Start Coach,who will help you through the first year of establishing your business starting with our 9 day hands-on training at our Logan, Utah office. We also have N-Hance University, which is an online, mobile-friendly platform that hosts dozens of hours of training webinars and videos, including programs focused on marketing. This tool is extremely important, and often updated, and you can keep using it not only to stay on top of the latest best practices, but also to train your team on marketing strategies as you grow.
N-Hance also provides you with a comprehensive marketing package to kick start your new business and start generating leads as soon as possible. The program includes:
- 12-month membership to Home Advisor and $1,000 in lead credits
- Creation and hosting of your website, including local content for SEO
- Listings in 50+ local business directories, including Google My Business
- Retail display for home shows
- Social media setup and postings
- Pay Per Click advertising to ensure your business ranks high on search engines such as Google
- Vehicle wrap to showcase your business and the N-Hance brand
During your first year in business, we have regularly scheduled meetings to ensure you’re meeting your goals, marketing effectively, and answering any and all questions that arise in your business. Ultimately, this gives our franchise owners the opportunity to blow away the competition and create a trustworthy reputation in the market.
Learn more about the N-Hance franchise opportunity
N-Hance is a low-cost, highly-scalable investment opportunity with potential for high returns. The total investment estimate to begin operations ranges from $51,970 to $167,023, which is significantly lower than other home restoration franchises or concepts within the home remodeling industry. The franchise fee for your first territory typically ranges from $13,259 to $46,028.