Home Services Sector Thrives as Homeowners Choose to Renovate Over Relocate

The home services sector continues to demonstrate resilience, with homeowners increasingly choosing to update their existing properties rather than sell, according to Paul Flick, founder and CEO of Premium Service Brands (PSB). This trend is benefiting PSB franchises, including 360° Painting, ProLift Garage Doors, and Maid Right, which offer a range of services from cosmetic updates to significant home improvements. Flick points out the recession-resistant aspect of home services, as homeowners prioritize maintaining their largest investment over discretionary spending.

PSB's multi-brand ownership model enables franchisees to efficiently meet a wide array of consumer needs, building trust and encouraging repeat business. While pre-listing home improvements play a minor role in their operations, the demand for PSB's services remains steady. Flick advises aspiring franchisees to focus on commitment, adequate capital, and following PSB's proven system for success. With the ongoing housing shortage and homeowners' focus on protecting their equity through quality maintenance and improvements, Flick predicts sustained growth for the home services industry.