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We’ve all been off on the odd day and seen one of the plethora of home improvement shows on Tv and thought, I could do that, but how many of us actually are? Well many of us can complete a lot of the work ourselves, but we all need that specialist for parts of the improvement and that’s where home improvement franchises are reaping the rewards.
2017 was a great year for home improvement franchises with an expected 25% of all home owners planning to conduct some kind of home improvement work. Home improvement franchises range in what they offer but this is because of the diverse market, it is no longer people just adding that conservatory, its more every room in the house has potential. With flooring, kitchens, bathrooms and interior décor coming out on top as the most likely area to improve, it demonstrates the amount of specialist home improvement needs.
We can see how much work home improvement franchises are receiving through the value of houses and with property values rising £28 per day in 2017, it demonstrates a healthy amount of work available. The UK property market is worth an astronomical £8.29 trillion and increased 3.5% in a year that was full of political uncertainty. Londoners are leading the way for home improvement franchises with the biggest spend per person compared to other areas of the UK. Clearly for Londoners they know how much home improvement can increase prices for resale and renting options.
As you can see above, many people are using the services from home improvement franchises for a range of improvements, but why are people deciding this route over moving to a better or bigger house? The first and most obvious answer is money, moving houses cost a lot of money with expenses coming from estate agents, legal fees, surveyors and removal costs.
The other reasons as to why so many people are deciding to use home improvement franchises over moving are more dependant on the persons particular circumstance. Family life is great when it works, when everything is running smoothly or as smoothly as it can, but imagine moving to a new location, needing new schools, new dentists and doctors. The disruption moving can cause for a family is a big reason why expanding or improving your current home can be more appealing.
The UK market and the political world are also big factors in the housing market and with Brexit, looming global uncertainty and interest rates expected to rise, these are all influencers as to why home improvement franchises are becoming very popular.
Nobody can see into the future, but you can predict certain elements and luckily for the home improvement franchise market, the future looks good. Technology is at the heart of any future market and the home improvement market is no different.
The current landscape for improvement franchises is that they can show you how these products look in other houses, so you can imagine the changes to yours, but what if we could go further than that. With the likes of augmented reality becoming a tool that will be readily available more and more in the future, the possibilities for the home improvement franchise market is excellent.
Imagine if you could use an augmented reality tool to see your design concept of your home improvement idea before you have to purchase anything. It would literally allow people to see the change before the change happened, thus increasing the chances they would take the plunge.
Franchises are the perfect business model for this type of technology as it’s something the franchisor could own in the head office and let every franchisee use, thus decreasing individual cost across the many franchise outlets.
The home improvement franchise market is doing well and is set to do even better in the coming years with a very exciting 10-year outlook. This is the perfect time to consider this market, but it has to be right for you. If you would like more information on what’s out there then take a look at some of the franchises we have to offer – Home Improvement Franchises