Remodeling industry trends: Latest data from research groups
A look at some key data DreamMaker remodeling franchise is sharing with franchisees
Each Spring, we share a host of the key data points that are driving remodeling industry trends. We provide DreamMaker Bath & Kitchen franchisees a mixture of macroeconomic analysis; new construction trends and home sales trends, which are leading indicators of remodeling activity; and research and analysis from think tanks that study the market for home improvements.
Here are just a few of the trends we’ve seen that remodelers should keep in mind. If you’re looking to grow your business, we invite you to learn more about how DreamMaker can help you take advantage of these trends:
Fundamentals. America’s housing stock is 35 years old on average. The average varies substantially in different regions of the country, with the oldest homes in the Northeast and the newest in the Southeast and Southwest. Even in the regions with the youngest homes, however, average home ages are more than 20 years. This is significant because remodeling spending tends to peak in homes that are 25-35 years old, and then stays relatively high thereafter.
Spending growth. Remodeling growth remains strong, according to the Home Improvement Research Institute, as well as the Joint Center for Housing Studies from Harvard.
Kitchen and bathroom design trends. What do homeowners want the most in a remodeling project? Understanding design trends can help you as you work with customers to help them come up with design ideas for their new kitchen or bathroom.
In business for yourself, but not by yourself
DreamMaker’s systems give you the power to expand your operations so that the weight of running your business is shared, so your business can become more efficient, and you have people to turn to when you need help. That help comes from many more places than just our corporate team in Waco, Texas and franchise coaches who live off-site.
When you join DreamMaker, you gain more than insights — you gain a family of fellow remodelers who function as friends and colleagues, not as competitors.
In addition to the support offered by DreamMaker’s corporate leadership team and staff, franchisees benefit from our Next Level Groups.
Next Level Groups consist of six to eight franchise owners who make a commitment to helping each other succeed. Every six months, Next Level Groups gather to take a detailed look at a single franchise operation, analyzing financials, marketing strategies and ROI, morale, margins and other aspects of the business. Ultimately, franchisees learn about each other’s goals and hold one another accountable for taking the steps necessary to meet goals.
“It’s a way to dig down deep in your company, figure out what you are doing right and what you are doing wrong,” says Tracy Moore, who co-owns the DreamMaker Bath & Kitchen in Winston-Salem, North Carolina. “DreamMaker gives you a lot of tools, and we make sure everyone is using those tools to their fullest potential.”
Learn how DreamMaker is outgrowing the industry
DreamMaker has been outgrowing the industry thanks to strong systems for managing the design process, the remodeling process and labor. We also use sophisticated online marketing strategies to generate leads for franchisees, and to help improve their sales process so they earn more jobs at higher margins.
To learn more, fill out a form to download our free franchise report and start a conversation. We look forward to answering your questions!