Home improvement spending is at an all-time high
Americans have never spent as much time at home as they are right now. It turns out that so much time at home has created a home remodeling boom unlike anything we’ve ever seen.
Even before the pandemic, the home remodeling industry had experienced 10 solid years of consecutive growth – but during the pandemic as the rest of the economy shut down, the home improvement industry continued to grow.
This trend is expected to continue. JCHSHU reports that “the home remodeling upturn will continue into 2022,” as homeowners are hiring professionals to tackle large scale projects in growing numbers.
MarketWatch reports that home remodeling is a $450 billion industry and it’s only getting bigger and bigger. In fact, the industry is expected to hit $500 billion by 2026.
“With a financial boost from recent federal stimulus payments and strong house price appreciation, homeowners are continuing to invest in the upkeep and improvement of their homes,” the research center reports. “This lift in incomes and ongoing strength of the housing market are providing homeowners incentives to make even greater investments in their homes this year.”
N-Hance makes dream kitchens a reality
Even as home remodeling spending surges, saving money never goes out of style. While kitchen remodels are on the wishlist of most homeowners, the price of a kitchen remodel can make it unattainable.
The average cost of a kitchen remodel is over $64,000, according to Forbes, and HomeAdvisor reports that costs are only expected to rise in the years to come.
This is why N-Hance is such a popular option with homeowners. Our ability to help homeowners save thousands of dollars on their kitchen remodel is why many of our franchise owners are booked out weeks in advance and it’s also why many of our franchise owners are experiencing record-breaking sales.
“My territories serve about 650,000 people in Pinellas County, Florida,” says Daniel Geier, a multi-unit N-Hance owner in Pinellas County, Florida. “I can’t imagine ever running out of kitchens. I’m already at the point now where previous customers are hiring me to work on their vacation properties, their rental properties, or to simply come back and do more in their kitchens. There’s a lot of opportunity to keep expanding and there is far from a shortage of customers.”
Competition? What competition?
N-Hance is the No. 1 brand in the wood refinishing category for a reason: we have superior products, technology, and provide a level of customer service that is unheard of in an industry rife with independent contractors.
The fact that N-Hance is a national brand with a glowing reputation has allowed us to become the go-to experts for wood refinishing in the communities we serve. Our competition is primarily small-time operators who lack the professionalism, expertise, and access to our proprietary products and services – which means our franchise owners always have the advantage.
“There isn’t a lot of competition for what we do simply because the competition can’t keep up,” says Kelly Jensen, President of N-Hance. “We’re always striving to improve, to add services that are relevant to the homeowner, and to help our franchise owners win. Our competition doesn’t have that level of commitment or support from a brand that knows exactly what it takes to succeed in this business.”