Opportunities in Home Improvement Business in USA
Any kind of work involving renovation or remodeling of interior or exterior of a house or a residential building comes under the home improvement services.
Opportunities in Home improvement Business in USA includes maintenance, repair work, alterations or additions and reconstruction work to the existing house or building.
There are several types of home remodeling service providers that carry out various jobs such as general contractors and sub contractors.
From complete reconstruction projects to renovation these home remodeling contractors and service providers take up various jobs based on their expertise such as air conditioning repair and installation, heating systems repair, waterproofing, roofing and construction of the house or a building.
Spending on Home Improvement Business in USA and Market Size
Homeowners in the USA spent 326.1 billion U.S. dollars in 2015 on improving their homes and properties to make them more comfortable and this spending is estimated to reach over $400 billion by 2019.
Looking at the numbers it seems that the opportunity is huge in home improvement business in USA for Small Business owners, home improvement contractors, kitchen remodeling contractors, bathroom contractors, roofing contractors and home equipment repair providers.
Graph showing Expenditure by US households on Home Improvement from 2001 to 2015
US households with income above US $200,000 annually have hired more interior designers compared to the households with lesser income in 2016.
This trend in spending on home improvement USA suggests that the industry is growing steadily and the demand for the home remodeling services is growing.
Let’s take a look at the Opportunities in Home Improvement Business in USA
As the US government and agencies are setting new standards for the environmental friendly products and homes, consumers are demanding more environment friendly products to limit the harm to the environment and this shift in the demand is reshaping the home remodeling and improvement industry in the USA.
The demand among consumers is rising for greener options when it comes to home remodeling such as photo voltaic roofing and energy-efficient thermal insulation to cut utility costs.
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There are several types of Home Improvement Businesses that are highly profitable and needs zero to very little investment:
- Apartment Prep Service
- Air conditioning Service
- Kitchen Remodeling
- Bathroom Remodeling
- Appliance Repair Service
- Carpet Upholstery Service
- Tile Installation and Repair Service
- Heating Systems Installation and Repair
- Home Cleaning Service
- Furniture Steam Cleaning
- Fire and Flood Restoration
- Home Inspection
- Handyman Service
Opportunities in Home Improvement businesses in USA are huge as it is projected that the spending on Home Improvement Services would reach US $406 billion by 2019. If you are an existing home improvement service provider or looking to start your own small business then there’s no better time to get started than now. Industry is growing steadily and spending by the households is increasing year-on-year.
How to Seize the Opportunity and grow your home improvement business?
- Whether you are an existing service provider or looking to setup a new business the first step is to research and analyze your market and nearby areas to get a clear idea of what services you can add to your portfolio or what services are in demand in your target area.
- To get started with planning and market research for setting up your Small Business take the help from Small Business Administration USAas they provide you with all the free services, tools and also guaranteed business loan ensuring that your small business succeeds.
- Create an online presence for your Home Improvement Business– Setup a website, business emails, social media pages and invest a small amount in online marketing for reaching the local customers in your area. It is always a good idea improve your website rankings instead of investing in online advertising as improvements in rankings are organic and they help your business in the long-term while online advertising only provides visibility to your website and business till you burn your dollars.
- Get your business listed on home improvement websites– Websites such as angieslist.com, homeadvisor.com, porch.com and thumbtack.com has thousands of home improvements professionals and contractors listed on them and it’s a great source of getting leads for your home improvement business.
- Distribute your Flyers and Business Cards – Distributing your flyers and business cards with the help of local vendors can make your phone ring in no time as home owners and apartment owners are searching for local home improvement professionals everyday that can provide quality services. You can also stick your flyers at local convenience stores, shops, gas stations and restaurants. Try it out, it works quickly!
- Advertise your Services in a Local Newspaper– Find out which local newspaper has the largest circulation in your county, city or town and then place an ad about your business or services if it fits your budget. Newspaper ad can give your business a huge exposure among local residents and it can really help your business take off in no time.
- Advertise on Local Websites– There are websites that provide general information about a particular city or town, local news and data about all the local businesses. Spend sometime and find out few of the local websites and advertise your business with them. It can help you generate local leads that you are looking for.
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Home improvement is one of the most profitable businesses that you can get into without any investments or with very little investment. The market size is huge and so the opportunities. If you are an entrepreneur or want to be your own boss then there’s no other business that provides both high profits and freedom like home improvement services. If you can market your business well then there’s a huge local demand for your services and customers are ready to pay good for the quality services.
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John Plix says
Great content about usa home improvement business opportunites. Very informative and useful content. Thanks for the sharing.
Thankfully. John Plix
Zella Provan says
Hello there! This blog post could not be written any better!
I most certainly will share this article on facebook.
Fairly certain this article would have lots of social shares.
Thanks for sharing!
Thanks for your kind words!
Cindy Greene says
Very informational post on home improvement business opportunities for entrepreneurs.
Jan Buddy says
Thanks for mentioning such opportunities in Home Improvement industry in the U.S. I hope I can grab some opportunity mentioned here and start a home improvement business. Thanks!
Thanks for sharing this information about opportunities in home improvement industry in the U.S. I am planning to start a handyman service soon and this post helped me explore more business options in the Home Improvement space. Thanks for your efforts!