Franchise Spotlight: Home Improvement
Take a look at what it takes to run a home improvement franchise.
Home improvement franchises are thriving with homeowners and buy-to-let landlords increasingly lacking the time, inclination or skills to perform a range of household jobs themselves. Millennials, in particular, are much
And some jobs, such as rewiring a house, require qualified, certified technicians regardless.
A huge portion of the housing market – about a fifth – is privately rented. Service contracts with landlords and housing associations with a portfolio of properties are a great source of repeat custom.
Some franchises deliver renovations, such as loft conversions or kitchen facelifts, which improve quality-of-life and property values.
Others provide essential maintenance or repairs. Some services, like gas safety checks, are regular legal obligations.
Demand drivers in both scenarios are durable and compelling: one delivers long-term financial returns that might eclipse a homeowner’s initial outlay; the other involves jobs that are simply unavoidable, making these services recession-resilient.
But what of stagnating incomes, you might ask? After all, some home services don’t come cheap.
Fortunately, franchises can leverage scale and efficiencies to offer competitive prices. Some offer innovative alternatives to conventional methods. Dream Doors, for instance, provides kitchen ‘facelifts’, a cheaper substitute for brand-new kitchens.