Business Opportunity Paper
August 5, 2013
In the beginning of the summer of 2013 opens a big opportunity in home improvements. As a business owner I have two options, either starting a franchise or start my own business in home improvements. Going into the home improvement industry there are many fields that I may chose from, this is to show off my expertise. The field options include roofing, gardening, floor covering, this is just a few to name. If I were to not chose a certain field, my business can work around the customer, by tending to the wants and needs from the particular customer. Majority of the reasons for when a customer decides to do some home improvements, it is not just to work on something getting fix but for luxury upgrades. According to "60 Percent Of Homeowners Plan Summer Home Improvement Projects" (2013), "As we head into the long days of summer, we are seeing increased interests...”. Not only is it important to ensure that the customer is satisfied with the home improvements, but it is just as important to have the brads reputation to be outstanding. Younger homeowners and homes with children are more likely planning on improving their homes. Homeowners plan to spend a median of $1,200 on summer home improvement projects. Sub-groups of homes with children as well as homeowners 54 years of age and younger plan to spend one-third more ($1,500) compared to homes without children and those 55 and older ($1,000)("60 Percent Of Homeowners Plan Summer Home Improvement Projects", 2013). And according to Reuter’s research and market “The global home improvement retail industry 2012-2017 is expected to reach an estimated $1,959 billion in 2017 with a CAGR of 3% over the next five years”. The best opportunity currently would be home improvement, the targets are there and willing to invest.
The business plan for my home improvement industry will be towards a...