Residence. Castle. Abode. Hub. Home. No matter what you call it, our homes are a busy personal metropolis of comings and goings, gatherings, day-to-day necessities, and relaxation. For years, the home services industry has been thriving due to our undying devotion to our houses and properties, satiated only by the best-of-the-best professionals who can get it to where we want it to be. Not only do people want to fix their homes to be better, but we also want to operate from our homes, ditching the gridlock for more productivity and more time for our day. Home services can typically give you both.
When it comes to your investment dollars working for you, home services are a perfect choice. Many of the franchise options out there require little start-up capital, little to no inventory, and can span the seasons. They are the ultimate choice for flexibility. Scheduling around what works for your lifestyle and the availability of your employees means more time for what matters most in life. Home services encapsulate several areas — let’s cover a few options that could fit the bill for your next franchise.
Renovations and Construction
Let’s start with an obvious choice for home services — renovation. Construction or remodelling are encompassed here, too. With tax refunds still burning holes in their pockets and the seller’s market holding steady, homeowners are seeking to upgrade and sell for a higher price tag, renovate their homes to make more sense for their family and needs, or remodel/add-on when upsizing isn’t in the cards. One article cited that home improvement spending topped $376.9 billion at the start of last year.
Kitchens Refined is a perfect example of this type of concept. This business performs a variety of services, with a focus on the best rooms for ROI in the home — kitchen and bathrooms. They offer cabinet refacing, countertop replacement, and several other applicable services to generate more business per lead.
Creating and Oasis
People are spending big bucks creating outdoor spaces to meet their need for respite. And with worker burnout at an all-time high to uncertainty with travel and airlines, who can blame them. We’ve seen a variety of home services come through that fit this niche, such as deck building or covering, hot tub movers, landscapers, and the like. A bonus to this niche is more time outdoors and the creative elements that go into some of these concepts.
Pool installation is a great path. We saw that pools added an average uptick in sales prices to the tune of around $27K in 2021(says Money.com). Brighton Pools, a Maryland-based franchise, brings a validated pool builder/renovator model to the marketplace. Franchisees can dive into this particular business for a minimum upfront investment of around $86K.
Tapping Into Design
It’s not just about functionality for folks. It’s about creating a space that screams “this is me”. For example, hardwood flooring is a go-to for people who want to add a big design change for a little time. Catalina Reports, a market research firm, put out a report for 2021 that estimated that the hardwood flooring manufacturing grew by 20.7% from the previous year, raking in around $4.2 billion. Authentic and classic hardwoods are on the upswing in popularity. And thanks to tech changes, they are more affordable for both the homeowner and the franchisee.
Fame Hardwood does an excellent job showcasing its slew of hardwood offerings, all displayed through an online showroom. The franchise opportunity is flexible, allowing franchise owners to hire out contractors to carry out the installation and estimates or an owner can do it themselves. All projects are purchased through direct affiliate suppliers which keeps the guesswork to a minimum and the operation extremely simple.
Finally, on the heels of Covid-19 and things like Monkeypox close behind, homeowners are highly aware of the germ population lurking in their homes. From traditional cleaning concepts to high-coverage disinfection, there are several low-cost, low-skill options for entrepreneurial hopefuls looking to gain footing in this arena.
Franchised business Germ Nix covers not only the bases for disinfection but offers mold remediation too — something that people are aware of now more than ever. Online publication Earth Web tells us that more than 70% of homes in the U.S. have mold issues. The market applicability for this concept is endless. Concepts like these straddle both commercial and residential clients, making them super scalable and an easy market to break into.
There’s no place quite like the home services industry. For more information on how to find a home service franchise investment or to franchise your business, visit our site at www.fmsfranchise.com or email Chris Conner, President of FMS at [email protected].