The Most Profitable Home Improvement Businesses and How to Get Started
Are you tired of coping with stagnant wages and a lack of job security? Remodel your destiny and take control of your future by diving into the world of home improvement. The most profitable home improvement businesses combine lower start-up costs with in-demand services. Learn how you can invest in this type of opportunity as an entrepreneur.
Embrace the Potential of Home Improvement
The home improvement industry is forecast to generate $457 billion in 2024, according to the Joint Center for Housings Studies at Harvard University. High interest rates and sluggish home sales are putting a damper on moving rates and causing the outlook for home improvement to soften from a high of $470 billion in 2023. But demand for home improvement is expected to grow as homeowners who are locked into their current homes make renovations to meet their evolving needs.
With the ever-evolving demands of modern homeowners, investing in a home improvement business presents an enticing opportunity for savvy entrepreneurs. The key to success lies in identifying the most profitable home improvement businesses that offer a perfect blend of lower start-up costs and high-demand services. Take a look at some of the most profitable types of home improvement franchise opportunities:
- Kitchen and bathroom remodels: These are popular and high-impact areas of the home that many homeowners prioritize for renovation, leading to strong demand. The median spend on bathroom remodeling projects jumped nearly 13% in 2022 to $9,000, according to Houzz. The median spend for major renovations with a shower upgrade hit $15,000. Bathroom remodeling was one of the top three most popular home projects in 2022.
- Sustainable upgrades: As sustainable practices gain traction, services related to energy-efficiency, such as solar panel installation and windows, can be profitable.
- Outdoor living: Landscaping, deck installations, and outdoor living space projects are also on the rise as people seek to enhance their outdoor areas for relaxation and entertainment. At least 28% of Americans planned to have a staycation this summer.
- Smart technology: The integration of smart home devices and automation has been growing steadily, presenting opportunities for businesses in this niche.
Bath Tune-Up Offers Path to Success
Good news — you do not need contracting experience to have a thriving career in the home remodeling sector. Many home improvement franchises allow owners to focus on building the business and leave the remodeling to the experts. A home improvement franchise enables entrepreneurs to launch a proven business model with a history of success. If you want to debut a business with training, ongoing support, and brand recognition, partnering with Bath Tune-Up provides a path to success in a potentially profitable home services niche.
Bath Tune-Up offers the independence you crave as a business owner with the support of a national brand. We’ve streamlined the remodeling process for customers by narrowing down the endless options of colors, styles, finishes, and materials to a group of carefully curated collections. Your team can provide solutions for any budget, including tile, fixtures, lighting, vanities, tub-to-shower conversions, and full bath remodels.
As part of your initial investment of $104,930, you gain access to the tools, marketing guidance, and franchise support you need to build a successful bath renovation franchise. To keep costs down, our franchisees do not need showrooms and we offer in-house financing to qualified candidates. Our franchise owners can set their own schedule and have the ability to conduct back-office administrative tasks from a home office for convenience.
We also have the backing of Home Franchise Concepts, one of the leading franchisors in the home services industry. Home Franchise Concepts parents nine brands, also including Budget Blinds, The Tailored Closet, and Premier Garage, and has more than 30 years of experience helping entrepreneurs launch businesses in their communities.
Remodel Your Future
Kick your commute to the curb and reclaim your career! Learn more about launching a bathroom remodeling franchise with Bath Tune-Up. Inquire now to get started today.