DreamMaker remodeling franchise systems have helped franchisees outgrow the industry
The remodeling industry is back in growth mode, and the DreamMaker Bath & Kitchen remodeling franchise is dramatically outpacing its peers thanks to business systems that were developed and refined during the recession.
The remodeling industry grew 3.1% in 2013 according to the U.S. Census Bureau. DreamMaker’s average franchisee revenue grew more than 23% — more than seven times faster than the industry overall.
DreamMaker President Doug Dwyer credits the strong and continued revenue growth to a combination of factors — pent-up demand, long-term housing trends and new strengths that DreamMaker developed while helping franchisees navigate the grueling recession.
After declining during the Great Recession, remodeling activity began to grow in the second quarter of 2011. It began growing strongly in 2012, according to the Joint Center for Housing Studies of Harvard University. The center estimates that the pace of remodeling growth hit double digits at the end of 2013 and will continue to grow at an accelerating pace through most of 2014.
Several factors indicate that the industry will remain strong. Housing prices continue to increase nationwide, providing more home equity that can be tapped by homeowners who are ready to remodel. At the same time, more American homes are entering their peak remodeling years. Remodeling activity typically peaks when homes are between 25 and 35 years old, then drops slightly remains near that peak thereafter. According to the U.S. Department of Housing and Urban Development, the average owner-occupied American home was 35 years old in 2011, up from 23 years old in 1985. That figure is expected to rise even higher the next time it is surveyed, because new home construction fell dramatically during the recession and remains far below its pre-recession peak. Remodeling activity, on the other hand, is almost completely recovered, according to Harvard.
DreamMaker hunkered down during the recession and focused on helping its franchisees navigate the downturn. Excellence was crucial for successfully weathering the downturn, and as DreamMaker worked with franchisees it also developed stronger systems to help them manage their businesses. Those systems are now powering growth for franchisees.
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