HOME RENOVATION PROFESSIONALS ANTICIPATE BUSINESS GROWTH: The majority of firms across the industry are optimistic about business growth in 2019, nearly three quarters of the industry anticipating that gross revenue will increase in 2019 (74 percent). Over half of businesses expect that revenue will grow by more than 10 percent (58 percent). To support revenue growth, firms plan to increase marketing and sales efforts and bring in larger budget projects (60 and 46 percent, respectively).
CONFIDENCE DRIVEN BY 2018 RESULTS: Positive expectations for the year ahead follow a successful 2018 for firms across the industry, with over two-thirds of businesses reporting that gross revenue met or exceeded expectations (69 percent). In fact, actual gross revenue increased by 10 percent or more for nearly half of businesses (45 percent). Interior designers saw the largest increase, with nearly half of businesses reporting that gross revenues grew by 15 percent or more from the year prior (45 percent).
HOME BUILDERS LEAD IN BUSINESS EXPANSION: One-third of businesses across the industry were able to expand by hiring new employees (32 percent). Home builders were the most likely to increase headcount (50 percent), followed by interior designers and building designers (24 and 8 percent, respectively).
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CONFIDENCE DRIVEN BY 2018 RESULTS: Positive expectations for the year ahead follow a successful 2018 for firms across the industry, with over two-thirds of businesses reporting that gross revenue met or exceeded expectations (69 percent). In fact, actual gross revenue increased by 10 percent or more for nearly half of businesses (45 percent). Interior designers saw the largest increase, with nearly half of businesses reporting that gross revenues grew by 15 percent or more from the year prior (45 percent).
HOME BUILDERS LEAD IN BUSINESS EXPANSION: One-third of businesses across the industry were able to expand by hiring new employees (32 percent). Home builders were the most likely to increase headcount (50 percent), followed by interior designers and building designers (24 and 8 percent, respectively).
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