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Home – Improvement / Renovation / Restoration Franchises

Home – Improvement / Renovation / Restoration: Building a Better Future

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.

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Why Invest in a Home Improvement Franchise?

Growing Industry During the Pandemic
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.

A Wide Range of Categories
The most popular renovation category during the pandemic was outdoor projects including decks, pools, and lawns, notes Statista. That may be because many people opted to turn their own homes into a relaxing and inviting space where they could enjoy time with family while restaurants and public spaces were temporarily locked down. While restoration jobs were a choice for many, more than half of HomeStars’ respondents (54 per cent) reported having to complete at least one emergency repair service during the pandemic, with the top two reasons being plumbing and appliance repair, respectively. Home improvement franchises are a great opportunity for individuals interested in joining a growing industry that provides support and care for Canadians’ most sacred spaces: their family homes.

Managerial and Hands-On Opportunities
For many of these brands, franchisees aren’t required to have previous handyman or repair experience, as they’re responsible for overseeing projects that are completed by their staff. Others looking for a more hands-on experience can opt for a brand that lets them get involved in the repairs and support their customers on-site from start to finish. It’s clear that the home improvement trend has rocketed up in the last couple of years. Statista notes that in 2021, about 11 per cent of Canadians had plans to spend more than $25,000 on renovations, showing that there’s no sign of slowing down when it comes to turning a family house into a dreamy abode. Read on to learn why prospective franchisees should consider investing into the home improvement industry!

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