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Franchise & Business Opportunity News

Handyman Franchises are Booming!

Written on April 18th, 2007 by Joseph in Franchise News.

For decades, the DIY handyman franchises have been the major trend and always been blossoming. Yet, these days it seems things have changed. People now prefer “do-it-for-me” (DIFM) handyman services and franchise companies have been quick to take advantage of this with great success!

It wasn’t until the mid-1990s that DIFM franchises began to appear in force. By 2003, home repair and improvement was named one of the fastest-growing franchise categories in the U.S. Since then, the segment has expanded even farther both as a resource for the growing number of aging homeowners as well as a business opportunity for franchisees.

These days, franchisors in the handyman, home repair, and property maintenance segment are not looking for franchisees that can use a hammer, fix a leak, or build additions to homes. Instead, they are looking for executives who can recruit skilled workers who can do all of these necessary things. They need the franchisees to successfully manage the franchise business, whether home-based or from a storefront. Franchise fees vary, depending of course on territory size, brand, services, and region. They typically vary between $35 000-$175 000 or more.

The home improvement market has always and will always be successful. There is always someone who lacks the time or skills necessary to repair their house or build additions. Estimates of the home improvement market run as high as $150 billion annually! Franchisors see huge opportunity for growth in this built-in, geographically diverse, and under-served marketplace. Other factors contributing to the growing need for reliable home repair and improvement includes second homes, vacation homes, income/rental units as well as commercial property maintenance. Another demographic plus for home improvement franchisors is the increasing number of seniors living well into their 80s and 90s and wishing to remain in their own home.

Another trend is the need to remodel and renovate current homes instead of moving. Homeowners continually spend approximately 1% of their home’s value each year on maintenance. Franchisors are well aware of these fantastic characteristics and are reaping the rewards!  Franchisors that understand the value of providing a reliable, quality delivery system for home repair services will thrive in the coming decade.