The home improvement industry has been on a steady incline in recent years. Projected to reach over $600 billion by 2027, the industry is poised for continuous growth – creating plenty of opportunity for driven entrepreneurs looking to join the market. Discover the potential of the home improvement market. Learn what makes home repair businesses lucrative ventures.
What is a Home Repair Business?
A home repair business provides essential services to homeowners and property managers by addressing maintenance and repair needs in residential properties. These services may include plumbing, electrical work, HVAC maintenance, appliance repair, general handyman tasks, home renovations, and disaster restoration.
Home repair focuses on solving common issues that can arise with aging properties, including wear and tear or damage from weather events, ensuring homes remain functional, safe, and comfortable. These businesses can operate as general service providers or specialize in specific areas like water and fire damage restoration, indoor air quality, or mold remediation.
Types of Home Repair Businesses to Consider
With home repair covering such a vast range of services, there are many different business types to research, including:
- General handyman services: Ideal for someone who considers themselves a Jack-of-all-Trades, handyman businesses offer a range of repair services. This may include fixing leaky faucets, minor electrical work, drywall repair, painting, and furniture assembly.
- Landscaping: If you’re someone who enjoys being outside, landscaping could be a good fit. With this type of business, you’d offer exterior services such as lawn care, trimming, garden design, deck repairs, and power washing.
- Pest control: Help homeowners address pest issues such as termite damage, rodent infestations, and other insect-related problems in or around residential properties.
- Plumbing services: Specializing in water system repair including pipe fixes, leak detection, drain cleaning, and water heater installation, this type of business requires a licensed master plumber on staff if you don’t hold a license yourself.
- Electrical services: Like plumbing businesses, owning an electrical repair business requires an electrician's license. This enables you to safely offer services such as repairs, wiring upgrades, lighting installations, circuit breaker troubleshooting, and electrical system maintenance.
- HVAC services: Focusing on heating, ventilation, and air conditioning systems, HVAC businesses offer installation, repair, and maintenance services to ensure homes remain comfortable all year long.
- Roofing services: Specializing in repairing and replacing roofs, roofing businesses handle issues like damaged shingles, leaks, gutter problems, and overall roof maintenance to protect homes from the elements.
- Appliance repair: Appliance repair businesses are greatly needed among homeowners. With the ability to fix household appliances such as refrigerators, washers, dryers, ovens, dishwashers, and more, homeowners can get the most out of their appliances before needing to replace them.
- Property restoration: Disaster restoration franchises specialize in the repair of homes affected by water or fire damage due natural disasters or simply human error. Dedicated to restoring homes to their pre-loss conditions, these types of businesses also handle mold remediation, reconstruction, and storm recovery.
If starting one of the above businesses on your own seems daunting, there are many home repair franchise brands with which you could partner. Reputable franchisors like Lightspeed Restoration offer a proven business blueprint, guidance from industry experts, and comprehensive training to ensure you’re ready to handle any task.
Why Start a Home Restoration Business?
The country’s aging infrastructure combined with an increase in natural disasters has only created more demand for quality restoration services. Fortunately, with franchises like Lightspeed Restoration, compassionate entrepreneurs who are eager to help their communities can get ahead of the demand.
Through our affordable franchise opportunity, our franchisees learn how to handle water and fire damage, indoor air quality issues, board-up services, and reconstruction for residential and commercial properties.
To learn more about starting a home restoration business with Lightspeed Restoration, contact us today.