Like DIY Projects? Find Out What's Possible in Home Improvement Franchising
Business ownership that's truly hands-on.
Can you remember a time when the local hardware store was the only DIY resource in town? Nowadays, the proliferation of Home Depot and Lowe's Home Improvement stores have made DIY one of the most common and popular retail industries in the U.S. But what's driving this marketplace? Americans have become obsessed with home improvement and the handyman lifestyle. When you have an entire franchise category dedicated to serving this market, it's easy to see why home improvement franchises have soared in popularity.
Many industry experts trace the meteoric rise of home improvement franchising to the pandemic. When lockdown forced people into isolation, individuals took extra notice of their living spaces, with a new eye for improvement. Additionally, the sudden influx of spending money left over from vacations not taken, commutes no longer needed and stimulus checks, and the population quickly went on a home improvement spending spree. According to data compiled by Brandessence Market Research, the U.S. home improvement market size reached nearly $800 billion in 2021. And it's anticipated to grow at a CAGR of 4.6% through the year 2028, reaching a new level of output valued at over $100 billion.
The number of home improvement franchise concepts in the market today is awe-inspiring. If you're looking for a home improvement franchise to own and operate, you have countless options to choose from. There are franchise concepts that offer painting, decorating, window treatments, insulation, flooring, closet renovations, cabinet restoration, outdoor lighting, power washing, pool cleaning, roofing and even garage door repair services. Whether you intend to own a franchise that services outdoor or indoor needs, or even both, there's no shortage of distinct niche marketplaces you can serve with a business of your own. Also, many home improvement franchise opportunities can be run remotely or from a mobile-base of operations, keeping overhead costs low for owners.
Which home improvement franchises top the current list?
Among the home improvement concepts listed in this year's Franchise 500, two recognizable names ranked in the top-15 overall. Ace Hardware came in at No. 12, with more than 5,500 locations nationwide. And Budget Blinds is right behind in 15th, showing an uptick of 14.4% in new units over the past three years, now topping 1,300 locations in the U.S. Swimming pools have moved past the luxury market and into the mainstream, where some areas of the U.S. have a multi-year waiting list on installation. That makes it a perfect market for upstart franchise concepts like Pool Scouts, where it's low buy-in level ($71-$88K) has made the brand one of the fastest-growing business models on the market. From the looks of it, America's love affair with home remodeling and restoration doesn't appear to be slowing in the least. Which makes home improvement a top choice for entrepreneurs looking to establish business ownership through franchising. For a look at the rest of Entrepreneur's 2022 Top Home Improvement Franchises, simply click on the following link.
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