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Now Is the Time to Start a Restoration Business: Here’s Why

If you are considering entrepreneurship, now is the time to take advantage of the booming home services sector and start a home improvement or restoration business.

The pandemic started a new era of teleworking and remote schooling throughout the country as Americans stayed home to help flatten the curve. Homeowners began transforming their houses to meet the changing needs in 2020, including adding offices, backyard retreats, exterior repairs, and other cosmetic updates. While cooped up amid stay-at-home orders and the new work-from-home lifestyle, families also made time for home maintenance projects they delayed over the years. On average, homeowners who made repairs in 2020 shelled out more than $13,000 each, according to HomeAdvisor’s recent State of Home Spending Report. Industry experts expect the trend to continue through 2021 and beyond.

Project planning with blueprints

Painting is a cost-effective way to make dramatic improvements to the appearance of a home or business. According to a recent report by Home Advisor, interior painting ranked as the most common home restoration project in 2020.

Homeowners Have More Cash Thanks to Record-Low Interest Rates

Loan interest rates are at historic lows making it easier for Americans to tackle home improvement projects. Many families are choosing to use the extra cash to spruce up their homes for future enjoyment or to  prepare them for sale in the flourishing real estate market.

Homeowners Outsource Improvement Projects

Even though more Americans are home, they are still opting to outsource home improvement and renovation projects. In recent years, fewer than one in five dollars spent annually on home improvement projects were for do-it-yourself projects. Money spent on DIY projects has been steadily decreasing over the past two decades, according to data and analysis from Harvard University. 

House Repair Project

Homeowners Outsource Improvement Projects

Even though more Americans are home, they are still opting to outsource home improvement and renovation projects. In recent years, fewer than one in five dollars spent annually on home improvement projects were for do-it-yourself projects. Money spent on DIY projects has been steadily decreasing over the past two decades, according to data and analysis from Harvard University. 

Homeowners value the expertise and craftsmanship of professional restoration businesses. Families also value their free time in this increasingly busy society. They would rather hire a pro than spend treasured weekend time laboring away on a home improvement project.

Fresh Coat Painting Business

Fresh Coat Offers Essential Business Opportunity

The outbreak of the pandemic prompted many Americans to reevaluate their corporate careers. Many hard-working executives are realizing their current career path does not provide the financial freedom and independence they desire. People are searching for work-life balance and control during this uncertain time.

Franchising allows business owners to be in business for themselves but not by themselves. They can take control of their careers by following a proven business model with an established brand. A career as a Fresh Coat owner allows them to use their business and management expertise to help people turn their houses into homes.

No painting experience is necessary. Fresh Coat franchise owners hire pros to take care of the painting and spend the bulk of their time growing their business. The brand offers multiple strong profit centers to generate revenue, as well as proprietary software for easy quoting and a system for continued lead generation. Fresh Coat supports franchise owners with call center assistance, as well as proven advertising campaigns. Low inventory will help keep costs down, and having a network of peers to share best practices will help your business grow.

Despite the COVID-19 pandemic, Fresh Coat added 36 locations in 2020, enjoying eight consecutive months of record-breaking revenue. Fresh Coat offers a home-based franchise with a low barrier to entry. It’s a brand that enables an owner to build strong customer relationships while working outside of a typical office setting.

Home restoration projects, particularly painting services, are an essential need for homeowners. With the continued growth in the industry, aspiring franchise owners can rest assured their investment in Fresh Coat can weather economic downturns and unpredictable events. 

To learn more about becoming a Fresh Coat franchise owner, click here.