If you have trade skills that you want to turn into some serious revenue, a home remodeling franchise may be your ticket to success. The housing industry will swing from periods of hot and cold, but regardless, those in the remodeling business tend to do consistently well.
When home sales are hot, for instance, sellers invest in improvements that make their homes more sellable while buyers refurbish their newly purchased homes according to their preferences. When the housing market is cold, on the other hand, people are likely to spend money enlarging, upgrading, or customizing their homes to prepare them for peak season.
There are many other reasons to invest in a remodeling franchise, especially if it has always been your passion. The capital to start a business, for instance, is less than the usual required for new construction. Research by the U.S. Census Bureau, National Association of the Remodeling Industry (NARI), and the National Association of Realtors also shows that most homeowners do not resort to DIY methods when it comes to remodeling. Instead, they turn to professionals to get work done.
If you are looking to invest in a home improvement franchise, here are some things to consider:
Find your niche.
As a remodeling professional, you can choose your specialization in many ways. For instance, do you want to be a commercial remodeling expert or are you into the remodeling residential structures?
Niches within residential remodeling include restoring the damage caused by fire, water, and other uninsurable losses. You may also take on remodeling apartments, condominiums, and apartments. You may focus your work on specific architectural styles or certain areas of the home such as sunrooms, bathrooms, kitchens, green houses and more. If you choose the latter, your niche may be granite transformation, or you can try investing in a bathroom franchise.
Be ready to do the work.
To succeed as a contractor, you have to have the hands-on capability to do the work itself. Knowing the process gives you an advantage, especially when ordering materials, scheduling, or supervising your contractors and employees. By knowing the dynamics of your business, you can properly assure your clients that your team will handle the project safely and that you will meet important housing codes.
Keep ahead of the trends.
Trends pop up in the home remodeling market now and then, and homeowners are bound to ask if you offer it. One trend that is in demand right now is “green remodeling. It involves refurbishing a space using non-toxic materials as well as making the home more energy efficient through recycled building components. Keep abreast of these trends so you can cater to broader client requests.
If you are looking to invest in a remodeling franchise, choose your partner well. Go for a brand that the community can recognize, one that has a reputation for quality work while respecting the client’s budget, such as TREND Transformations. TREND Transformations has made a name for itself in the industry for consistently delivering quality renovations and their fair pricing. Working with such reputable companies means benefiting from their solid reputation, and therefore gaining their solid customer base.