Today’s consumers are especially eager for custom storage and more functional organizational solutions. They are adapting rooms for home offices, creating study spaces for their child’s virtual learning, and looking for the best way to store all the products they’ve been stocking up on. Providers of made-to-order closets and storage systems have had an edge where other businesses have not been as fortunate.

Research suggests the demand for home organization products in closets will increase by 4.8 percent per year through 2023 to $3.4 billion, according to a home organization products study by The Freedonia Group. Demand for these products in all rooms should reach $12.7 billion during that same time frame, representing gains of 3.8 percent per year.

<H2>Revenues are Up, The Future Remains Bright

 Even with issues related to the pandemic, including supply chain challenges in some areas, and social distancing precautions, sales of closets and other organized spaces have not only held their own, they’ve also grown.

Home improvement spending increased 3 percent in 2020 to $271 billion, according to a report from Harvard University’s Joint Center for Housing Studies. This year, JCHS is forecasting spending will reach $281 billion.

<H2>Closets and Storage: What the Trending Shows

 The housing market is thriving, and people are eager for upgrades that will not only satisfy their current needs but also make their homes more appealing to potential buyers. As an owner of a Closets by Design franchise, you will have a suite of affordable, top-quality products necessary to satisfy a hot market for storage and organization. Here are some trends you can take advantage of:

• The top three design projects continue to be primary bedroom closets, home offices, and garage organization.
• Functional closets, pantries, and utility rooms are priorities for millennials in the home improvement and homebuying market. They ranked the following amenities at the top of their wish lists: 86 percent specified a desire for laundry rooms, 80 percent wanted garage storage, 79 percent specified a walk-in pantry, and 73 percent wanted a linen closet in the primary bath, according to the Millennial Home Buying Preferences study by the National Association of Home Builders.
• Full-extension drawers, accent lighting, islands, jewelry tray inserts, and hampers are among the most requested upgrades for closets. In the garage, homeowners requested cabinets, workbenches, shelves, slat wall, and countertops, the survey reported.

<H2>Rising Home Equity and Low Interest Rates: A Boon to Both Sides

Leading the remodeling trend is a boost in home equity for many homeowners and favorable interest rates. The access to credit works both ways — to you as a new business owner and to the clients who will be willing and able to pay for your services. Low interest rates might mean the time is ripe for you to become your own boss. Owning a Closets by Design franchise provides an opportunity for you to carve out your own entrepreneurial path and control your destiny.

<H2>Is Closets by Design Right for You?

You don’t need to be a woodworker or have manufacturing experience to open a Closets by Design franchise. If you have good leadership skills, a steadfast commitment to customer service, and excellent follow-through habits, being a franchisee might be a perfect match. Check out our article “A Great Closet Starts with the Right Person” to start your journey.

Visit us at www.closetsbydesign.com/franchise to learn more about the franchise ownership opportunities available in this booming industry.

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Learn why the time is right and how you can come out on top with your own custom closet franchise with Closets by Design.

This is Your Time to Shine

While 2020 has been a challenge for many businesses, it has actually worked to our advantage. This is an opportunity for you to establish a foothold in the industry.

Many companies have been forced to cut back on spending for advertising and marketing. This helps to lower the cost of advertising rates while also leaving a vacuum in the market that you can fill!

These developments make right now an advantageous time for entrepreneurs in general, but there are all also plenty of reasons specific to the home improvement industry that make a custom closets franchise a particularly smart idea.

The Housing Market is Doing Surprisingly Well

One thing that has surprised many people during the economic downturn of 2020 has been the resilience of the housing market. This has been a time of economic upheaval and seismic shifts in employment rates. As such, it would stand to reason that the housing market would slow down as well. It turns out nothing could be further from the truth.

The housing market is actually booming, and with a hot housing market comes more people wanting to improve the value of their homes. They may be wanting to boost their home value or upgrade a home they’ve recently purchased.

Home Improvement and Remodeling is Booming

It’s more than the booming housing market that makes the custom closet industry so attractive. The market has also seen a surprising uptick in the home improvement and remodeling market. In a way, it makes sense.

People have been spending so much time in their homes that they want them to be as nice as possible or have noticed room for improvements they never thought of before. One of the first ways people upgrade their homes is with their closets.

With nowhere to go and nothing to do, many people are finally getting around to those home improvement projects they’ve been meaning to get around to. That means finally upgrading their closet! For some homeowners, this may mean expanding their existing closet. For others, it may mean converting another part of their home into functional storage space. As a professional Closets by Design designer, you can help point them in the right direction.

Rely on Yourself and Take Charge of Your Destiny

In uncertain times, the only person you can truly rely on yourself. This is just as true for your career as it is for your personal life. Entrepreneurship is your opportunity to take the reins of your career and be the one in charge of your own success.

Don’t let the market or a pandemic dictate your destiny. Instead, take life by the horns with your own business. With a proven system that has been tested by more than 35 years in business and robust franchise support, a Closets by Design franchise can help you lay the foundation for your future.

Control Your Future with a Closets by Design Franchise

They say that if you always wait for the right time then there will never be a right time. Now is your opportunity to take charge of your career and own your business in a booming market. Learn how you can start your Closets by Design franchise today.

The post Is Now the Right Time to Start Your Custom Closet Business? appeared first on Closets by Design - Franchising.

The quickest, and most direct, route to capitalizing on this exploding industry is to partner with an established franchise. Franchise businesses provide entrepreneurs with the brand recognition and a functional business model they need to make their footprint in an ever-expanding marketplace.

Now that you’ve decided to invest in a franchise, exactly what does that mean and how do you go about joining? The team at Closets by Design has been helping franchisees achieve their dreams of business ownership for over 35 years. The team can help you join the industry too.

Learn the Details for Your Franchise

There are many things that investors need to consider when purchasing a franchise. These include the details of your total investment, startup timeframe, training and support, and, most importantly, the income opportunities. Here’s what entrepreneurs need to know when they are looking into starting their own custom closet franchise.

Talk to the Source About Your Total Investment

First, entrepreneurs should understand what their investment is going to be when starting a franchise. The total investment for starting a franchise can vary greatly depending on the industry, your location, and the opportunity for income. And startup fees do not only cover the franchise fees, some franchises may require the building of a new location or renovating of an existing one while some may allow for franchisees to work from home. Because the investment range is so diverse to each particular franchisee, it’s recommended that you take the time to perform your due diligence and speak directly with the parent company for additional details.

Know the Timeframe for Starting Your Franchise

They say that Rome wasn’t built in a day. The same is true for a successful franchise. Many franchises can take anywhere from two to six months or longer, between your initial inquiry to when you open your doors. Of course, this timeframe may also vary between franchisees and locations. For potential owners who are looking to get started quickly, there may be resale opportunities available. This is where speaking to the franchisor can be beneficial to help you understand the timelines and options.

Thankfully, with the right franchise, you can count on franchisor support throughout your startup. In addition to this support, franchisees can also expect additional help in the form of training.  It is important that you understand how much training and what type of support is available to you as you look for the right franchise fit.

Prior to a franchise’s grand opening, Closets by Design provides a comprehensive, two-week training session at its corporate headquarters in California. Support from your franchisor is crucial to the future success of any business and should be a major consideration in making your choice. In addition to extensive corporate training, Closets by Design franchisees can also count on the corporate team for robust, in-house marketing support to drive leads through both local and national advertising programs. On top of that, you can always count on the continued communication and training that come with being a member of the franchise family.

Find Out About Financing

Financing may be available for specific startup costs such as territory fees and initial machinery investments to name a few.

Some companies, like Closets by Design, are pre-approved by the Small Business Administration (SBA) franchise registry. This makes applying for small business loans, and receiving faster approvals, easier for potential franchisees.

For a more detailed understanding of investment costs, franchisees can request more information about starting their Closets by Design franchise.

Understand Why the Investment Works for You

The most important part of planning your investment is understanding why it’s a good investment in the first place. We’ve already told you how home improvement is a billion-dollar industry that doesn’t show signs of slowing down. A Closets by Design franchise is your best way to make the most of this upward trend.

During our more than 35 years in business, our franchisees have consistently proven that Closets by Design franchises are excellent cash flow businesses with deposits collected before delivery of the product. Furthermore, owners who follow the Closets by Design model have been shown to achieve high gross margins while maintaining low inventory.

One of the best ways for franchisees to learn more about the opportunity is to speak with other owners who have already changed their lives through franchise ownership. Speaking with owners is an integral step of the discovery process for any potential franchisee and an excellent way to learn about both the startup process and life as a business owner. In fact, after their own Discovery Day, Closets by Design franchise candidates will have the opportunity to speak with existing owners to learn more about the franchise experience from a hands-on perspective. But you don’t have to wait, you can see testimonials from franchisees discussing their own success with Closets by Design now on the website.

Are You the Ideal Closets by Design Owner?

Are you asking how you can become a Closets by Design franchise owner? You may already be the ideal candidate. What you need is experience as a leader, with strong management skills and good people skills. No woodworking or manufacturing experience is necessary! Do you think owning a Closets by Design franchise is right for you? Reach out today to learn more about how you can get your start in the home improvement industry when you open a Closets by Design franchise.

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