4 Home Improvement Business Ideas That Are Thriving

Whether it's to increase home value, make their homes more comfortable, or accommodate a growing family, demand for renovation services is strong. Learn more about the benefits of owning this type of business, and which home improvement business ideas are most profitable.

If you are considering entrepreneurship, the home improvement industry can be lucrative. Home improvement spending jumped 12% in 2023, and the average American household spent nearly $10,000 on home improvements, completing nearly about three projects, according to Angi. The top three projects were interior painting, installing new appliances, and bathroom remodeling.

Here are four home improvement business ideas that offer great opportunities for financial success:

1. Bathroom Remodeling

Many homeowners see the bathroom as a space where they can combine beauty and functionality, making it a prime area for renovations. From updating outdated fixtures to installing energy-efficient showers, customer enthusiasm for bathroom remodeling is robust. At least 25% of homeowners plan to remodel their primary bathroom this year.

Bathroom remodeling services have high earning potential, especially as people continue to spend more time at home and prioritize comfort and aesthetics. The national average for a bathroom remodel is around $13,000. Bath Tune-Up offers a full range of custom design options and curated concepts for every level of bath remodeling project. To help make bathroom remodeling attainable, our services range from full bathroom renovation to a simple tub-to-shower conversion.

2. Kitchen Remodeling

Kitchen remodeling businesses are booming as homeowners look to modernize their spaces with new cabinetry, countertops, appliances, and lighting. Kitchen remodels often offer a high return on investment (ROI), making them an attractive option for homeowners. The ROI for a kitchen revamp is at least 50% for a full-scale remodel and 96% for smaller improvements.

3. Flooring

Both commercial and residential flooring sustain a lot of wear and tear. While steps can be taken to extend its life, flooring will eventually need to be upgraded. New flooring, such as luxury vinyl planks and eco-friendly materials like bamboo, can dramatically change the look and feel of a space. The cost of materials also varies widely, enabling flooring installation businesses to offer services across different price ranges, catering to budget-conscious clients and those seeking high-end luxury options.

4. Painting

A painting business offers multiple revenue streams. You can bolster your customer base by providing both interior and exterior painting at homes and businesses. Nearly 25% of homeowners plan to paint an interior room this year.

Climate is also playing a role in the growth of the painting sector. Last summer marked the fourth hottest summer on record. These extreme temperatures and the sun’s ultraviolet rays can take a toll on a home’s exterior paint, causing it to crack, peel, and fade prematurely. With high temperatures forecast to return in 2025, the need for exterior painting services will continue to climb.

Improve Your Future with Bath Tune-Up

Bath Tune-Up is a prime franchise opportunity in the home improvement space. One of the benefits of franchising is gaining access to a proven business model that emphasizes efficient processes, high-quality materials, and exceptional customer service. The franchise system provides comprehensive training and ongoing support, ensuring that even those without prior experience in remodeling can succeed.

“We love being Bath Tune-Up franchise owners because we have the unique combination of a niche market in the growing home renovation space combined with a tried, tested process by the parent company, Home Franchise Concepts, and a very helpful home office staff,” said Dhara Sanghavi, a franchise owner in Round Rock, Texas.

Our strategic vendor alliance enables you to take advantage of lower prices, promotions, and group buying power. You’ll gain access to vetted payroll services, tested equipment and supplies, and first-class marketing tools. We also offer in-house financing to help you lower your initial investment.

Ready to Explore Next Steps?

Now that you know more about some of the most profitable home improvement business ideas, are you ready to explore becoming your own boss? Home remodeling can be a strong opportunity for first-time entrepreneurs and seasoned professionals.

Inquire now to explore the next steps and learn more about launching a business in the successful home improvement industry with Bath Tune-Up. Fill out our online form to gain access to our on-demand webinar.