The Home Improvement Industry is a $350 billion business. That’s a lot of money to spend on new siding, paint colors, and kitchen appliances. So how much does it cost to run your own show in this industry? Let’s take a look at some average revenue numbers for the home improvement industry across different types of businesses.
Home Improvement Industry Overview
The Home Improvement industry includes the retail, wholesale and installation of new homes and additions. It also includes remodeling existing homes, which may include adding new rooms or making structural changes to existing ones. The industry also includes repairs of all kinds (e.g., plumbing).
The Home Improvement Industry
The Home Improvement Industry is a $252 billion industry, and it’s one of the largest segments of the construction industry. The Home Improvement Industry employs over 7 million people, who work in stores, factories and other facilities across the country. This number represents about 10% of all retail sales in America and 20% of all jobs in retailing (or nearly 1 out of every 5 jobs).
Home Improvement Industry Jobs
As you can see, there are a lot of jobs available in the Home Improvement Industry. The Bureau of Labor Statistics predicts that this industry will grow by 22% from 2018 to 2026 that’s almost double what other industries are expected to grow at!
The number of workers in this field is also expected to increase significantly over those years: by 2026 there will be 1.5 million people working in home improvement stores and hardware stores alone, not including those who work on their own homes or do other jobs related to construction. And if you’re looking for a higher salary than average? You might want to consider becoming an electrician or plumber; both positions make well over $100k per year on average!
Profitability And Challenges
- Home improvement industry is a highly competitive industry. There are numerous players operating in this market, which makes it difficult for new entrants to compete with established companies.
- Home improvement industry is also a growing industry. As more people become aware of the benefits of home improvements, they are likely to invest more money on projects such as roofing replacement or adding an addition to their home.
- There is low barrier to entry into this market since all you need is some basic knowledge of construction work and tools such as hammers and saws that can be easily bought from stores like Walmart or Lowe’s (the world’s largest home improvement chain store).
Home Improvement Industry Is $1.5 Million Per Year
The average revenue for a Home Improvement Industry is $1.5 million per year. The average expenses for one of these businesses are $0.5 million, which leaves them with an average profit margin of $1 million per year.
Conclusion
The Home Improvement Industry is a great place to start your career or business. The industry has been around for many years now and it continues to grow each year. With so many different types of jobs available within this industry, there are plenty of opportunities for people who want something new in their lives. From contractors building homes from scratch all the way up through maintenance workers doing repairs on existing structures; there’s something here for everyone!
