Home improvement surprisingly boomed during the pandemic. By 2026, its global market is expected to hit a compound annual growth rate (CAGR) of 5.63%. The industry boomed for several reasons, including lower lending rates, growing populations, and increasing employment. But during the pandemic, people’s prolonged time in their abodes prompted them to make renovations, pumping up the industry.
Even if the pandemic affected people’s income streams, many were still fortunate enough to afford a home improvement. As such, today should be an excellent time to start a business in the industry. But with so many brands out there to compete with, how will you stand out?
Below are the tricks to making a unique identity in the home improvement industry:
1. Use Your Area’s Economy To Your Advantage
You don’t have to come up with a one-of-a-kind product or service to make an impactful start. You can offer something that already exists, as long as it will benefit your target market. For example, if you live in a small town where people demand home renovation services, but the supply of contractors is low, then you can become the contractor they’ve been looking for.
To make your services marketable, getting the word out about your business is just half the battle. Your target market has to be convinced that you do quality work for the price you demand. So get your portfolio ready.
If you haven’t got extensive experience in renovating abodes, volunteer for a local charity that provides home-building assistance. It will allow you to demonstrate your skills to the other professionals in your industry. You can also build your network from there. To spread the word about your services fast, work for local organizations in exchange for public acknowledgment.
Word-of-mouth marketing remains beneficial for startups. So focus your strategies on — literally — becoming the talk of the town before splurging on digital marketing methods.
2. Offer Popular Products For Competitive Prices
Since offering something unique isn’t always necessary, starting with popular products can kickstart your brand, too. With numerous retailers offering the same products, quality can be compromised when consumers shop. Prices decline as supply increases, giving some retailers the opportunity to provide low-quality products for rock-bottom prices.
So find a market niche that values quality over quantity. For example, they are the type of consumers who will pay more for a product other people can buy from a dollar store. These products can be robot vacuum cleaners, air purifiers, home office equipment, or multipurpose furniture. Find high-quality stocks of these products from reputable suppliers so that you can price your products higher, proving that they’re above generic quality.
3. Offer In-Demand Home Improvement Services
If unique products aren’t necessary, the same applies to services. Home improvement consists of the same type of services, like kitchen remodeling or bathroom remodeling. The services will only change if the kind of homes we live in also changes.
The keys to standing out among your competitors are the quality of services, your prices, and your brand’s cause. For example, if you offer repainting services, how many painters do you send on-site?
If you only send one and the job is for a whole, 10,000-square foot mansion, the painter may take a while before completing the job. That could indicate a low-quality service since it doesn’t value time. On the other hand, if the number of painters you send depends on the project’s scope, that shows that you understand the requirements of every project you take.
The cause is also critical because it shows your business’ social responsibility. Consumers are willing to pay more for a product or service if the company is socially responsible. Your cause is your responsibility, for example, slowing down climate change. You can support that cause by minimizing your services’ carbon footprint. That way, even if your services aren’t unique, your business has a purpose that consumers can admire, encouraging them to spend on you.
4. Offer Customized Products
Offering customized products is a smart strategy for startups. People are willing to spend more on bespoke items. Luckily, a wide range of household products is customizable. If you want to start with something affordable, you can go for customized dishes or hand towels, scented candles, or wardrobe accessories.
If you’d instead target people renovating or building new homes, you can offer custom-build fences, home numbers, doors, etc. For those, you’d need sophisticated equipment, such as a high-quality laser machine for engraving or cutting different building materials.
Home improvement’s market is over-saturated, sure, but it only makes the industry burst with opportunities. As long as you find a niche in the market that demands something only you can offer, you have a shot of making it big in home improvement.