The Current Market
The Home Improvement Industry is Growing Steadily
Recent reports on the remodeling industry are very encouraging for the future of The Honey Do Service and their franchisees:
"The coming year is expected to see sustained momentum in home remodeling and repair spending, according to the Leading Indicator of Remodeling Activity (LIRA) ... The LIRA projects that annual growth in home improvement and repair expenditures will remain elevated throughout 2017 with spending levels ending the year up 6.7 percent at $317 billion, on par with the 6.9 percent growth estimated for 2016.
Changing household demographics are projected to support healthy growth in the industry over the coming decade as baby boomers age in place and millennials move into homeownership." - Joint Center for Housing Studies of Harvard University
Remodelers are anticipating another year of widespread revenue growth in their renovation businesses in 2017 that could grow their annual gross revenue by 10-12 percent on average, compared to 8-10 percent in 2016, according to the latest survey by Houzz Inc., a leading platform for home remodeling and design.