Building a Better Future
Home improvement franchises help Canadians add the perfect finishing touches to their dream homes
At the end of 2020, the pandemic’s impact on ramping up home improvement sales became clear, as Canadians spent more time at home and realized the need for minor and major changes around their family homes.
From fresh wall paint to a bathroom or kitchen upgrade and all the way outside to a deck or yard refresh, Canadians were pinpointing key areas around their houses that were long overdue for an update. They turned to home improvement franchises across the country that provide services including painting, flooring, repairs and maintenance, cleanup and restoration, handyman services, disaster restoration, water damage, and much more.
In Canada, the home improvement industry is valued at $52.5 billion, up from the $50.2 billion reported in 2020. That’s according to Statista, who also report that 46 per cent of Canadian homeowners planned to spend $1,000 to $10,000 on home improvement projects in 2021. The average planned spend for homeowners surveyed was $10,200 on home renovations that year.
Meanwhile, HomeStars reports that Canadians’ biggest motivation (58 per cent) to renovate was to “refresh” the look and feel while improving the overall aesthetic of their homes. For those who completed home improvement projects during COVID-19, another 77 per cent say they have plans for future interior renovations and 51 per cent for exterior renovations in the coming year, per HomeStars.
Read on to learn why prospective franchisees should consider investing into the home improvement industry!