IS A HOME SERVICES FRANCHISE A GREAT FIT FOR YOU?
Considering a home services franchise but not sure if it’s the right fit for you? Here are some things to consider so you can make the best investment.
LIMITLESS POTENTIAL
Home service is one of the largest, most recession-proof industries in the United States, providing a range of opportunities for entrepreneurs to invest in business ventures that serve to improve people’s quality of life at home. According to Verified Market Research, the U.S. home services market is projected to reach $219.07 billion in the next five years, growing at a compound annual growth rate (CAGR) of 35.8 percent from 2019 to 2026.
Home services franchises which focus on care, repair, and improvements provide a recession-proof investment opportunity to prospective owners who are motivated to run their own businesses and lead a team of professionals in an industry brimming with potential.
Unlike other industries that face market fluctuation during economic downturns or other unforeseen circumstances, home services are essential no matter the state of the world. Even though home services have always been vital, the need has grown over the past year.
Even amidst challenging circumstances the housing market exploded in 2020. Much of this is due to decreased mortgage rates meant to shore up the industry in the midst of a global pandemic. But now that the Fed has announced that lower mortgage rates are here to stay, in conjunction with folks relocating, it’s worth assuming that new home ownership trends are on the rise for the near future.
Housing trends increase the need for home services, and companies that provide dependable, quality work will see their business blossom across the country.