A home services business is a smart investment for entrepreneurs. Learn how the home services industry is expected to continue rapid growth over the next few years.
The home services industry includes a variety of businesses across a range of segments such as repairs and maintenance, installation and home improvements/design. The market is thriving now more than ever before thanks to an increase in online on-demand services, which are being driven by the continued growth of smartphone adoption. Just a few years ago (2018), the home services market was valued at $281.65 billion, yet it’s currently on an 18.91% growth trajectory, expected to reach $1,133.40 billion by 2026.
Home Services are Important to the U.S. Economy
The home services industry employs more than 5 million professionals and contributes more than $500 billion in direct spending to the U.S. economy each year. As a Home Franchise Concepts franchisee, the stability of this market is great news. Different from home sales or new construction, the home services market is recession-resistant. It’s a stable source of economic activity that continues beyond the initial point of sale due to the ongoing demand for upkeep, remodeling, design and maintenance services. As an HFC franchise owner, you’ll not only benefit from this growth, you’ll contribute to it!
Home Services Businesses Are Essential to Homeowner Happiness
According to the experts at Home Advisor, the home services market produces tangible improvements in people’s’ lives, and Americans are completing approximately 511,345,000 home service jobs each year. Cleaner, better designed, more modern, problem-free homes are a source of health and happiness for many consumers. The result? As a franchise owner you can benefit from this stable and growing source of income in the home services industry.
What’s the Future of the Home Services Industry in the U.S.?
With more than 90 million Americans currently at or just approaching the typical home-buying age, the outlook for franchise owners in the home services segment is bright. HFC franchisees benefit from our ongoing marketing and operations support, which enables them to make their businesses more visible when local homeowners do online research to find a nearby home services professional.
Are You Ready to Get Started?
Learn more about the HFC family of brands and find out which brand is your ideal match for your personal and professional goals. To start a conversation, contact us today.