House prices and sales may rise and fall, but there’s one thing which never drops in value; investing in a more beautiful home!

It seems like it’s in the news nearly every day, and will certainly not be news to you if you’re a homeowner: the UK housing market is experiencing one of its biggest slumps in more than a decade. Soaring interest rates are driving up mortgages, and house sales are way down with many feeling the squeeze. You might expect this to have a knock-on effect to the home renovation sector but it seems quite the opposite is true - Granite & TREND Transformations franchisees are not just surviving, they’re thriving! 

We’ve always prided ourselves on having a franchise business model which is robust and resilient enough to have weathered all the ups and downs of the economy during our nearly 30 year history, but the last few years have really hit home at just how valuable great looking kitchens and bathrooms are to homeowners regardless of what else is happening. The pandemic, the cost of living crisis, rising fuel costs and now a housing market slump - you might reasonably expect big home projects to be put on hold until things pick-up, but that’s just not been the case. Our franchisees have seen a year-on-year rise every year since 2020, with some of our top performing partners enjoying six figure turnovers every month in the middle of 2023. 

So, how come they are bucking the trend? 

Well, one big reason is that when mortgage costs rise out of line with income, people are less inclined to move, so they tend to stay put and improve their current homes instead. As they know they will be there longer, they are more likely to carry out projects which will allow them to have maximum enjoyment of their home, or to adapt it to their changing needs, rather than rely on moving to a new property. We’ve seen customers who want to make the most of what they have and also plenty who have wanted to improve the functionality of their kitchens and bathrooms, using a variety of our products.

However, our experience has taught us that there is a lot more at play here. Put simply, being able to offer a fantastic home renovation service with great products will always appeal to customers, regardless of what else is happening in the economy. Homeowners will always spend money on renovations, simply because how their home’s kitchen and bathroom look has a huge influence on its value, meaning improving them is an investment which will always pay off. 

According to Nationwide, a new kitchen can add between 6% and 10% to the value of a property. The average house price in the UK in 2023 is still around £280k, so that means adding anything between £16k and £28k to the value of a home. In more affluent areas with higher property prices, this could be as much as £50k! When the market is strong, sellers want to add as much value as they can. When the market is weak, they know they need to work harder to keep up the value and appeal to a smaller pool of buyers. 

There may be a big dip in sales and prices but the UK housing market is still incredibly robust. Strong demand for homes still far outstrips the available housing inventory, which means the housing market remains very strong and will remain so for many years to come. Homeowners still have hugely valuable assets at their disposal and it will always be worth their while protecting that investment. For franchisees in a business like Granite & TREND Transformations, it means there will always be demand for their products and services, whatever happens in the economy. 

It is especially a good time for a business who can offer solutions for a wide range of budgets. Those homeowners who are feeling the pinch may still want to upgrade their kitchens & bathrooms, but not necessarily go to the full expense of completely removing everything and replacing it. Fortunately, this is something that Granite & TREND Transformations franchisees specialise in! With our innovative worktop overlays, for example, we can totally transform how a kitchen or bathroom looks without the expense of removing all the old surfaces. Even smaller changes, such as replacing cupboard doors or upgrading storage, can make a huge difference to the homes of those trying to save their pennies. 

Not only that, but being part of a franchise like Granite & TREND Transformations means our franchisees can offer customers finance options that would be pretty much impossible for any small, independent business. Providing them with a way to spread the cost can give them a huge edge in even the most challenging of marketplaces. 

Going into business for yourself is never going to be risk free, particularly when you’re up against things you can’t control, like global pandemics and rising interest rates. However, there are ways to greatly reduce that risk, such as being part of a brand like Granite & TREND Transformations who’s franchisees have already faced everything that the last few years could throw at them and come out stronger than ever before. 

So, if you’re considering building a better, more secure future for yourself, why not get in touch to learn more about what we could achieve together? There’s never been a better time.