How to Start a Remodeling Business in Waco
If you want to start a remodeling business in Waco, you have an incredible resource in your own backyard
Demand for remodeling is growing, and many entrepreneurs who are drawn to construction, real estate or design, are looking for ways to start a remodeling business in Waco and other parts of the country. Remodeling is an exciting business. It allows you to transform customers’ lives by improving the look and function of their homes, to engage your mind in problem-solving, and to show your creativity and craftsmanship through great design and execution.
It can be a tricky business, too. Many remodelers struggle to juggle the various duties that go into running and growing a strong remodeling business. Homeowners often trade “remodeling nightmare” stories back and forth, but those bad experiences usually don’t happen because of remodelers who are bad people. They happen because of delays and mistakes that muck up the process of serving customers, and because of remodelers who underbid each other to win jobs — unintentionally stripping away the margins they need to keep their businesses strong and their customer service levels high.
DreamMaker Bath & Kitchen can help you start a remodeling business in Waco and give you advantages that help you to avoid pitfalls and to take full advantage of growth opportunities. We are a nationwide franchise system that is headquartered in Waco, and we have been helping remodelers start new businesses and improve existing businesses for more than 15 years.
Why is now a great time to start a remodeling business?
Now is an exceptional time to start a remodeling business. Many professional remodelers left the business during the Great Recession, thus professional competition is down. At the same time, rising home prices and an improving economy have led to a strong recovery in demand for remodeling. Remodelers who have the systems in place to capitalize on rising demand also can capture market share, which could pay dividends for years to come. That’s a big deal, because half of the homes in the United States are 35 years old or older, making them prime candidates for remodeling work. The peak remodeling years for a home are between 25-35 years. Old homes need to be maintained and updated, and as the economy improves, we expect that fundamental truth to drive sales.
It may already have begun. Harvard’s Joint Center for Housing Studies projects that the percentage growth of remodeling spending was in the mid-single digits through the first three quarters of 2014. That comes on the heels of 3.2 percent growth for the remodeling industry in 2013, according to the U.S. Census Bureau.
How well is DreamMaker capitalizing on the demand? Our average franchise revenue increased 23 percent in 2013, and we experienced double-digit growth again in 2014.
What makes DreamMaker different?
DreamMaker Bath & Kitchen works to help franchisees achieve strong margins and quality of life. Strong margins allow remodeling business owners to hire great help — carpenters, salespeople, designers, office staff — which allows them to run the business while working reasonable hours, not the 70- to 80-hour weeks that are typical in the industry. Typical gross profit margins (before fixed cost) are 20 percent; DreamMaker franchisees had average margins of more than 40 percent in 2013.
DreamMaker offers extensive systems, coaching, vendor relationships and tactical support to help remodeling company owners grow and manage their businesses. We support franchisees nationwide, but as a Texas-based franchise system, we’re right in your backyard.
DreamMaker is guided by its Code of Values, which lays out a philosophy for running a meaningful and honorable business. The values — and our efforts to live by them — have helped attract quality franchisees, quality employees and wonderful customers.
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DreamMaker’s free franchise report includes:
- Details about startup costs and financial performance
- An in-depth look at the business model
- Management team bios
- DreamMaker’s history
- Industry projections
- Stories and comments from DreamMaker remodeling franchise owners