The U.S. home improvement market is expected to be worth $537 billion by 2026. According to the report from Research and Markets, a “recent shift in the preference of consumers toward energy-efficient and luxurious homes is expected to further drive the growth” in the next five years. Entrepreneurs waiting for an opportunity to enter the thriving home improvement industry may find that now is the perfect time to start a new business.

What Services Fall under the Home Improvement Category?

The label home improvement can be applied to many different services—landscaping, house painting, kitchen and bathroom remodeling, handyman repairs, carpet installation, interior decorating, and any other service that improves a home’s interior or exterior environment. The trick is deciding which type of home improvement business you should open. If you have a particular skill or hobby (such as woodworking or gardening) that you’d like to turn into a career, then your decision may be easy. Your business is more likely to be successful if you enjoy the work you’re doing. But even if you don’t have previous experience in home improvement, other skills may serve you well as you explore this broad and rewarding industry.

What Does It Cost to Start a Home Improvement Business?

As TRUiC points out, the costs will depend upon what type of business you choose to start and where you start it. A part-time remodeling business that you operate from your home may cost $50,000 to $75,000 to start, while opening a major renovation business with an office will probably require $250,000 to $500,000 in start-up capital. Regardless of the size of your operation, you’ll need to have business licenses, permits, and insurance, a work vehicle, and the tools, equipment, and materials necessary to perform your services. Additionally, opening a large business will require you to rent or buy an office (and maybe a showroom or warehouse), hire employees, create a marketing plan, and more.

How Do I Get Clients for My New Business?

No business will survive long without customers, but it can be difficult to get the word out about your services when you’re first starting. Traditional marketing strategies of the past are being phased out in favor of more digital avenues. If you want your business to succeed today, you must have a strong internet presence, including an effective website, targeted online advertising, and frequent social media engagement.

Why Should I Start My New Business with Cabinet IQ?

Cabinet IQ is a high-tech cabinet and countertop company based in Austin, Texas. Our customer-focused approach to kitchen and bathroom remodeling is focused on taking a modern approach to the industry. When you become a franchisee, Cabinet IQ will teach you how to implement our proven business model. We’ll give you all the training you need to run a successful home improvement business, even if you don’t know the first thing about remodeling a kitchen or bathroom. We are transparent about our startup costs so you can feel fully informed about whether or not this is the right investment for you. Best of all, when you join our team, we’ll do the research to make sure your store is located in an area where it’s most likely to flourish. As an established brand, our expert marketing team will help you promote and grow your business. In fact, you can rest assured that our development team will be there to support you through every step of opening your business and beyond.

Let Cabinet IQ help you become part of the booming home improvement industry. Fill out the form on our website and get started today!

Published On: August 22nd, 2022 / Categories: Featured, News /