As flowers begin to bloom and the weather warms, home improvement projects aren’t far behind. Though most remodeling projects happen in the kitchen, a new emphasis on garages has the garage remodeling franchise industry on a serious drive for growth.
According to Global Market Insights, the global home improvement market size was valued at over US $800 billion in 2018 and is projected to grow at a 4.5% CAGR through 2025. North America dominates the market, accounting for $407 billion in 2019 home improvement spending. Rapid urbanization paired with increasing disposable incomes are the main market drivers behind the global home improvement market.
Within home improvement, garages fall into the category of home organization products. The US demand for home organization products is projected to increase at a 3.8% CAGR per year to $12.7 billion by 2023, driven primarily by the housing market. Home sales in 2021 are expected to be 7.0% above 2020, with many new homebuyers eager to fix their homes driving demand.
For more, check out these four garage remodeling franchises to invest in:
Closet & Storage Concepts/More Space Place
Founded in 1987 and franchising since 2000, Closet & Storage Concepts/More Space Place has grown to 40 locations throughout the US and has been ranked #112 by Entrepreneur as a Top Franchise for Veterans. To learn more about a franchise opportunity with Closet & Storage Concepts/More Space Place, click here.
GarageKings.com Inc
GarageKings.com Inc started in 2013 when two friends developed the company’s Polyaspartic Flake Floor and launched their flooring installation business. Since then, GarageKings has grown to more than 50 locations in the United States. To learn more about a franchise opportunity with GarageKings.com Inc, click here.
Garage Living
Franchising only since 2014, Garage Living has recently expanded to 6 locations. The franchise offers an extensive 134-hour training program which includes 21 hours of classroom training, 82 hours of on-the-job training and 31 hours of online training to ensure their franchisees and team members are as prepared as possible for success. To learn more about a franchise opportunity with Garage Living, click here.
Sears Garage Solutions
Sears has been in the home improvement business for over 125 years and is one of the most recognized brands in the industry. As one of the nation’s largest provider of home services, Sears receives more than 12 million service and installation calls annually. To learn more about a franchise opportunity with Sears Garage Solutions, click here.