By Lauren Setar
Meanwhile, improved levels of disposable income and less leisure time will cause consumers to seek services from professional painting service companies, rather than taking on do-it-yourself projects. Consequently, revenue for painting and decorating franchises is expected to increase at an average annual rate of 3.0 percent to $929.9 million in the five years to 2018.
Additionally, the significant number of foreclosed homes on the market with years of underinvestment during the recession will create a large amount of renovation work for both handyman service franchises and painting and decorating franchises.
Households make up the majority of the market for plumbing service franchises. Consumers may call on plumbing service franchises for new plumbing construction and installation, alterations and repairs. The industry receives a steady pattern of demand from households for repairs due to the long-term nature of maintenance contracts.
Because plumbing service franchises are also sensitive to new home construction, growth in housing starts is expected to expand the industry’s pool of customers: Housing starts are expected to grow at an average annual rate of 10.0 percent in the next five years due to greater investment in new housing units.
A greater number of homes translate into more pipes, drains, sinks and toilets requiring installation and repair. As a result of these trends, revenue for the Plumbing Service Franchises industry is expected to grow at an average annual rate of 5.3 percent to $2.0 billion in the next five years.