Last year, the COVID-19 pandemic urged many Canadians to spend more time at home to protect themselves and their families during a difficult and uncertain time. With so much time spent indoors, it’s inevitable that homeowners took a closer at their homes and came to identify specific areas they’d like to change.
In Canada, home improvement industry sales are valued at $50.2 billion, according to Statista. The average amount of money that Canadian homeowners say they are willing to dish out on renovations is about $11,000.
Despite the economic uncertainties of COVID-19, HomeStars reports that 80 per cent of Canadian homeowners are still planning to do renovations, with 20 per cent completing larger projects around their home. Last year, 47 per cent of homeowners completed general repairs, with most people (39 per cent) spending between $500 and $5,000 to fix up their abode.
Read on to learn more about why investing in the home improvement industry is a great choice for prospective franchisees!