12 Nov What Are Growth Opportunities in the Custom Closet Industry?
There are plenty of people looking to take the next step in their careers and become their own boss. Are you that person? This is an exciting chapter in your life. You’re ready to start researching and seize the opportunity to take the control you crave and gain the freedom you deserve.
What you may not have realized is that the right industry was in your home this entire time. That’s right, we’re talking about the custom closet industry. How large is the custom closet industry, and what kind of growth opportunities exist for budding entrepreneurs? Here’s what you need to know about this goldmine of an opportunity and how you can get your foot in the door.
The Home Improvement Industry Keeps on Growing
As the housing market in the United States keeps improving, so does the demand for upgrades on new and older homes. It’s a major reason why home improvement spending is growing at a rate that is almost double the rest of the retail market. Home values are rising across the country. On top of that, the housing market is seeing millennials take the plunge and buy their first homes. With the increase in property values comes a renewed desire for people to invest more in their homes.
These investments are often coming in the form of upgrades in the hopes of improving the resale value, making an impact on potential buyers, or simply improving the quality of life for homeowners. We’re seeing this through improvements to closets, garages, pantries, and more. By optimizing storage space to make the most of their square footage, homeowners organize their lives while also ensuring their home makes a great first impression.
Among these improvements, one of the biggest areas where the market is seeing improvement is in custom closets. In fact, a recent survey by the Freedonia Group shows that the custom closet industry is expected to increase in the United States by 3.8 percent every year through 2021 to a total of $11.8 billion. That’s a massive market potential that keeps getting bigger each year. But how can entrepreneurs capitalize on this incredible opportunity?
A Custom Closet Franchise is Your Doorway to the Market
Even when many entrepreneurs recognize their big chance, the idea of jumping in headfirst can be a daunting prospect. Starting an independent business from scratch requires more than just capital; you need a sound business plan, industry knowledge, and an aggressive marketing strategy to establish yourself in a competitive space.
Purchasing a franchise provides entrepreneurs the freedom of owning their own business while also offering all the advantages of a proven process. Combined with reliable marketing support and extensive training, Closets by Design sets its franchisees up for success from day one. This is why a Closets by Design franchise is your best chance at getting in on this rapidly expanding industry before it’s too late.
By teaming up with an established company like Closets by Design, franchisees take full advantage of a recognizable brand that customers already trust. This, coupled with an extensive history of success reinforced by a finely tuned business model that works, is a recipe for success that has helped Closets by Design franchises thrive for decades.
Closets by Design has helped people organize their lives for more than 35 years. As the leading franchise system in an ever-growing industry, the business has seen franchisees flourish across North America. Its established model has proven itself time and again as a sound investment. Don’t wait to get your piece of this exciting industry. Ask how you can start your franchise today with the team at Closets by Design.