Vast Improvement
You can't argue against a market that comprises 70 percent of Americans.
"People today want to feel safe and comfortable in their
homes, and franchisors providing home improvements or home services
are going to find consumers with open arms," says Jerry
Wilkerson, president and founder of Crete, Illinois-based
consulting firm Franchise Recruiters Ltd.
The possibilities are practically endless. From maids and
plumbers to painters and decorators, dozens of franchises serve the
homeowner.
One industry taking advantage of the home focus is storage
design and installation-this category emerged in the Franchise
500® in the '80s and is experiencing growth to this day.
"Most Americans are spending less of their income on
vacations. My feeling is, they'll spend those dollars on things
related to the home," says Bob Lewis, founder and president of
the Closet & Storage Concepts franchise.
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This interest in the home isn't all related to fear of
traveling-the home-improvement industry has been booming for the
past few years, growing into an estimated $178 billion market in
2000, according to the Home Improvement Research Institute. Couple
that with Census figures indicating 70 percent of the population
owns a home, and you have millions of homeowners with money to
spend. "People are willing to spend money on things that they
think they're going to get an immediate return [on], and that
is generally in and around the house," Wilkerson says.
Mr. Handyman International is another franchise in a growing
category poised to benefit from the market. Operated by Service
Brands International, Mr. Handyman does everything from hanging
screens to cleaning out basements. "Everybody has a list on
the refrigerator of things that really have to get done," says
president and CEO Greg Longe of the everlasting demand.
Market leaders haven't emerged in many segments of the
industry-yet. Lewis and Longe are hoping to change that in
2002.
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