To reflect their high standards through their homes, homeowners are looking forward to home-makeover services to revamp their homes, dropping the idea of buying new homes.
India is going through some significant changes in a past few decades, especially in the lifestyle patterns. As most millennial now survive nine-hours of corporate lives in their offices, the standards of living are rising, hence developing a taste for high-end lifestyle. A good lifestyle and a high standard of living are reflected with the well-furnished and luxurious homes that they live in.
And to reflect their high standards through their homes, homeowners are looking forward to home-makeover services to revamp their homes, dropping the idea of buying new homes. From renovating the entire rooms, ceilings and kitchens to installing luxurious household items like chandeliers, mirrors and high-end lightings, the home makeover services are providing perfect solutions to homeowners seeking high-end renovation of their homes.
Big Makeovers makes Big Businesses
Home makeover services are one of the most demanded services in the home design market in India. Home makeover services could be a range of services such as painting, remodelling, false ceilings, kitchen renovation and many others. The rapidly changing behaviour patterns of consumers because of the influence of factors like urbanisation, cosmopolitan culture, customisation, and theme-based interiors, are pushing the growth of this sector.
The business model of a home makeover services as matched with today’s trends is picking up the pace and is a lucrative option for businessmen of this age.
Ongoing Trends are the Growth Catalysts
Apart from the changing behaviour patterns, the home makeover market is witnessing a boom also because of the recent trends emerging in the industry. For instance, the concept of smart home is flaring up in today’s technologically advanced world. Therefore, homeowners are demanding smart appliances like intelligent home security devices, smart doors, climate control products, and lighting and entertainment systems in their homes while planning a home renovation.
Another trend that has been quite famous these days is the modular design. In order to increase functionality and to make their homes a better fit with their fast paced lifestyles, homeowners are seeking modularity in designs while they decide to get a makeover done for their homes. Modular cabinets with contrasting designs and finishes are often used to add visual interest and define separate areas in your room so that they can enhance the look of your house and be functional at the same time. The concept is most vividly seen in kitchens where homeowners wish to customise their kitchen as per their usage.
All these trends together are giving an explosive boom to the demand for home-makeover services and their franchises in India.
Home makeover Franchise: Small Investment, Big Profits
Home makeover franchises are rapidly growing in the Indian market as there is a surging demand from the end-consumers. In India, the home design market is estimated to be around Rs 3500 crores, but the market is highly fragmented. As the bigger players stressed on improving the input, the use of recent technologies played a major role to standardise the experience that was needed to be delivered to the homeowners. The bigger players are realising the potential of the market and are on an expansion spree with franchising.
With a creative lens to picture the best version of a home, a lot of people start their entrepreneurial venture in home makeover business. Though the business could be started independently, taking a franchise comes up with additional benefits such as proven model, brand recognition, high margins etc. A home makeover franchise could be started in a minimal amount. The typical range of a home makeover franchise in India is Rs 35-55 lakhs for an area of about 500-1000 sq ft. This makes it a more lucrative model for budding entrepreneurs in the field.