Home Improvement Franchise Market Size, Share, Growth and Industry Analysis by Type (Interior Renovation, And, Outdoor Renovation) By Application (Enterprise, And, Family) Regional Insights and Forecast To 2032

Updated On: 29 April 2024

HOME IMPROVEMENT FRANCHISE MARKET REPORT OVERVIEW

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The global home improvement franchise market size expanded rapidly in 2022 and will grow substantially by 2028, exhibiting a prodigious CAGR during the forecast period.

The home improvement franchise deals present a promising platform for budding entrepreneurs to chase the growing demand for upgrading and maintenance services. This type of franchise provides a one-step procedure for the franchisee based on a brand that can be recognized right away; a model that is proven; and a suite of facilities and amenities supplied by the franchise. From the remodelling to repair; landscaping to the improvement projects for homes; these franchises often offer these services to solve the problems of the homeowners, who are in quest of professional help for enhancing their home. Franchisees can overcome their obstacles of newness by branding the business under an established brand and investing the franchisor’s reputation and expertise to compete in a thriving market, while providing a quality solution to the problem at hand.

COVID-19 impact: Interruption of Production and Supply Chain during Pandemic Decreased Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic had an effect on the space of home improvement franchise. The pandemic resulted in the interruption of production chains and operations in the first place, but the extended time people spent at home encouraged real estate and DIY projects accordingly. Franchises extended the virtual consultation, the no-contact service as well as broadened their online product platform. As homeowners invested more in home improvements, franchises witnessed the leaders of the industries coming back to business. The market faced a lot of challenges during the pandemic.

LATEST TRENDS

"Incorporation of AR Technologies into Design Consultations to Accelerate Market Growth"

The latest home improvement franchise innovations of the last few years have been tied to greatly improving the customer experience and operational activities.  A range of virtual reality (VR) technologies can be incorporated into design consultations, with clients being able to see renovations visually prior to agreeing remodel activities to create higher levels of satisfaction and avoid misunderstandings. On top of this, eco-friendly companies are rapidly integrating progressive project management tools to improve communication between contractors, suppliers and clients as well, to not only facilitate the workflow but also to decrease the project time Moreover, the development of sustainable building concepts coupled with eco-friendly materials meets the growing demand among consumers who express their desire of sustainable solutions. This does not only make the home improvement franchises inherently innovative but also a leader in sustainability and foster the optimum use of available resources in the industry. The above factors are driving the home improvement franchise market growth.

HOME IMPROVEMENT FRANCHISE MARKET SEGMENTATION

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By Type

Based on types the global market is segmented into interior renovation, and, outdoor renovation

• Interior Renovation: Young franchisees of interior renovation concentrate mainly on altering people’s living quarters through design, remodeling, renovation, and other similar services. Whether it is minor kitchen and bathroom upgrades, complete home makeovers, or just refreshing the look and the feel of any space, these franchises offer solutions tailored especially towards homeowners’ comfort, performance, and looks needs that are widely varied.

• Outdoor Renovation: Outdoor renovation franchises specialize in upgrading outdoor areas to create the most beautiful sanctuaries possible thanks to their landscaping and exterior remodeling designs. Be it planting gardens or installing outdoor kitchens, decks, or patios, these franchises aid homeowners in deciding the most appropriate plans that enhance their outdoor areas for comfort, entertainment, and curb appeal.

By Application

Based on application the global market is segmented into enterprise, and, family

• Enterprise: Aside from Enterprise-level home improvement franchises that would normally handle large-scale projects for commercial, corporation or multifamily properties, fabricating on wood is also done so that different designs and styles are introduced to the customers. The franchise's teams can perform all sorts of repairs, preservationists, and custom jobs. This enables them to offer comprehensive services which are tailor-made to the purpose and objectives of their business and organization clients.

• Family: The home improvement chains that emphasize family values develop their services around projects which intend to make residential places have a spaciousness and functionality for families of any size. Through providing customized consultations, flexible scheduling and commitment to a detail-oriented work, these franchises put the customer first to ensure the making the family homes beautiful and functional as well as something for everything.

DRIVING FACTORS

"Rise in Rate of Homeownerships and Renovation to Propel Market Growth "

There are some main determinants that act as a driving force behind the steady growth of this industry. For the first, homeownership and renovation rates are on the rise, supported by low-interest rates and the psychological tendency towards individualization, this creates a substantial demand.  Shifting demographics also influence the market expansion. Besides that, DIY culture is broadly growing and is getting easier together with the digital era. Moreover, consumers can outsource larger projects to professionals and purchase small or specific things that they want to do by themselves. Finally, introducing latest and sustainable tech in the industry has automatically associated the home improvement franchise brand itself with modernity and eco-friendly products, securing their lead spot in terms of progress and sustainable practices. All of the above-mentioned factors are driving the home improvement franchise market share.

"Advent of Social Media and TV Home Improvement Shows to Propel Market Growth "

Economic stability and growth also have a complex role in the improvement of home franchise businesses because most consumers tend to invest in property upgrades during good economic times. Furthermore, it seems that now more than ever there is a desire for both curb appeal and function in the home which has been spurred by the advent of social media and TV home improvement shows, causing more and more homeowners to take on their own renovation projects. On the other hand, the old house stocks in the majority of locations bring up the owners' need for renovations on the basis of maintenance and modernization, which is a continual source of markets for the franchisers to take full advantage of these circumstances. Expansion is a result of the joint influence of the indicated factors which causes sustained growth and industry’s expansion.

RESTRAINING FACTOR

"Recession and Inflation During Recent Times to Decrease Market Growth"

The industry of the home improvement franchising has witnessed development; however, the industry is also under the effect of certain restraining factors. The recession translates into the decrease in consumers’ expenditure on non-permanent kinds of amenities such as living space improvements. On the other hand, the housing market condition fluctuation may become a problem for homeowners. Besides, a shortage in skilled labor in trades, for instance carpentry and plumbing, might restrict the franchises’ capacity meant for vast projects, and in so doing, affect their ability to meet their customers’ demand. Ultimately, evolving regulatory constraints and zoning limitations may bring the much more difficulties on the chain-stores’ path of expansion and raise operational costs at the same time, so long time and sophisticated moves are needed here.

HOME IMPROVEMENT FRANCHISE MARKET REGIONAL INSIGHTS

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"North America to Dominate Market Share in Upcoming Years Due to Economic Stability and Growing Population"

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa

North America turns out to be the leading area for the business of the franchisers, due to various reasons. In this case, the U.S. takes the spotlight. This country has a stable housing market and a strong tradition for owning houses, that's the reason why there is a growing demand for renovation and remodeling services. The various strengths of the economic structure of Canada including its economic stability and growing population further prove the position of the region in the industry. Similar situations are observed in these two countries, which have a well-established franchising infrastructure and consumer taste for professional home improvement services. North America is a giant market with political and economic conditions still favorable fostering innovation and growth in home improvement franchise sector.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• TREND Transformations (U.S.)
• Kitchen Makeovers (U.K.)
• Refresh Renovations (New Zealand)
• House Doctors (U.S.)
• Color World Painting (U.S.)
• Mighty Dog Roofing (U.S.)
• Archadeck (U.S.)
• N-Hance (U.S.)
• Footprints Floors (U.S.)
• Home Franchise Concepts (U.S.)
• Konzept Haus (Germany)
• Sam’s Gutters (U.K.)

INDUSTRIAL DEVELOPMENT

April 2020: Of all the events, Refresh Renovation has always been the first to bring such an innovative product in the year 2020 which actually transformed the way people renovate their bathroom. An inbuilt smart shower made with conforming technology, the Smart Shower System enabled its users to freely customize water temperature, pressure, and lighting preferences through a Smartphone app. The time-saving and luxurious features provided by this technology were far beyond other mechanisms, but what stood out given its advances was its water efficiency levels and energy conservation, hence a major turning point in the field of personalized automated homes.

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.