The home service industry, while not glamorous, holds significant potential for those seeking a recession-resistant, profitable business. The promising numbers are a testament to this potential.
According to Technavio, the home service industry is expected to increase by a whopping 6,541.8 billion, with a CAGR of 40.43%.
The over six billion dollar home service increase is from 2024- to 2028.
The demand is fueled by the increasing number of people working at home and easy internet access to qualified home service providers.
So here we are wrapping up 2024, and the year is predicted to grow 28% this year and each subsequent year until 2028!
Recent research from Consumer Specialists says that 57% of homeowners are spending more money on home improvements.
“People are staying home more and want to invest in it,” said Dale Reeder of One Time Handyman. Homeowners who have been in their house for a few years can borrow against the equity. People work hard during the week and want to relax, not remodel a bathroom.
Since COVID, the amount of people working from home is still higher than pre-Covid. According to Gallup, 43% of the working force said they work from home part-time to full-time. As of August 2022, those number were holding steady at 57%.
The more time people stay at home, they start to see changes they want to make to their home.
According to Civic Science, lower-middle-class families are opting to be DIYers. Of all remodeling projects, 50% will be DIY, 25% will be outsourced by a professional, and the remaining 25% will be a combination.
Not surprisingly, upper middle-class homes are moving in the opposite direction. 31% will be DIYers, and 37% will be hiring professionals, leaving 32% who will do a combination of the two.
According to NHAB, the most common remodeling projects are as follows:
High interest rates can have a negative effect on home sales causing some people to stay at and make home improvements.
There are so many great DIY videos on YouTube that consumers can take some of these projects, which they might not otherwise have tried.
According to Behr’s 2024 Financial Outlook, a steady increase in profits are expected for painting companies.
The Home service industry is not just huge, it’s diverse. From at-home medical care to remodeling, lawn services, handyman services, painting, and a myriad of other services, there’s something for everyone in this industry.
Some percentage of people will always be DIYers, and people with people with above-average incomes will hire professionals.
Every structure in use needs some type of care regularly. The ensures work. The more new construction, the more upkeep.
If you are looking into the home service industry and wondering if it is safe, all data points to either moderate to high growth.
Since 1989, I have worked in the home service industry, providing painting and carpentry services. Regardless of the economy, our business thrived, and yes that includes COVID.
Klappenberger & Son is so confident about the industry and its future that they are still offering a franchise fee guarantee.
The guarantee states that if you follow the proven marketing system and fail to generate $500,000 in gross sales in their first 20 months, they will reimburse the franchise fee fully.
Earning Potential With Klappenberger & Son How much can a Klappenberger & Son franchisee make? The potential earnings as a franchisee with Klappenberger & Son are impressive, with opportunities that are, in many ways, unlimited. Our expansive territories and proven business model give franchisees a solid foundation for success. But
Klappenberger & Son Training and Support At Klappenberger & Son, we believe that the foundation of a successful franchise lies in comprehensive training and ongoing support. Our approach is designed to equip franchisees with the tools and knowledge they need to thrive, ensuring their success and the satisfaction of their
Klappenberger & Son Start-Up Costs Starting a business is a significant decision, and understanding the investment required is crucial. At Klappenberger & Son, we frequently receive questions about the total investment needed to own one of our franchises. Here’s a clear and detailed overview of the start-up costs involved, as
The First Step to Leadership The first step to leadership is voluntarily getting people on board with your vision. According to Merriam-Webster – transitive verb : to offer or bestow voluntarily In my experience, I have found leadership to be counterintuitive and awkward at times. I used to hope that if
Phone: 443-223-0645
Email: dklappenberger@klappenbergerandson.com
Address: 902 Bluff View Dr. Myrtle Beach, SC 29579