Remodeling a home’s kitchen is at the top of many homeowner’s wish lists. According to research conducted by Statistica, the most popular reason given by 37% of homeowners for why they are finally embarking on this type of renovation is having the funds to do so, according to research conducted by Statistica. But this is not an inexpensive update. Houzz.com reported that the median amount homeowners spent in 2020 remained stable at $35,000.
With home improvement booming in general in 2020—spending grew by nearly 3% to $420 billion in 2020, per a recent study by Harvard University's Joint Center for Housing Studies (JCHS)—the time is now to get in on this lucrative franchise opportunity. Especially since researchers involved in that study expect the numbers to climb an additional 4% in 2021.