Factors that Makes Home Decor a Profitable Franchise Business Opportunity
What else could be better other than using your creativity at the right place and starting a business out of it? Yes, that's right. In the modern Indian business ecosystem, entrepreneurs who are creative along with an inherent entrepreneurial spirit could be seen investing heavily in home décor franchise segment.
These entrepreneurs are trying to enhance the look of a house through decorative and creative styles and ideas, personalising it according to a person or the people living there and offering luxurious and utility interiors for them. With the rise in disposable incomes of people, consumers are now spending more in order to design the interiors of their houses, depending upon choices, trends, or themes.
The Growing Demand for Home Décor Services
As per a report, the global home decor market is predicted to triple by the end of 2020, which is a great opportunity for all those entrepreneurs that believe home décor can be their market for running a business.
This growth in demand from the customers has directly impacted the home décor franchise segment, allowing it to boom simultaneously with time. The industry is now a full-fledged segment in itself, promising to offer different kinds of services like home window dresser, home accessories organiser, entire home makeovers, eco-friendly home décor services, and others.
But a home decor franchise industry is not so much different from any other industry in terms of factors propelling the growth. This segment has its own components that are being responsible for the rapid transformation happening within this industry. Let's highlight some of them.
Growth in the Real Estate Industry
The growing demand and penetration of the real estate sector in both residential and commercial spaces has been directly impacting the home decor franchise business in India. In short, the booming real estate sector is driving the growth of the home décor market in India, which carries tremendous potential in today's world.
In fact, experts believe that the increasing growth rate of new constructions will further boom the home decor industry, presumed to double in terms of market presence by the end of 2020. Further, entrepreneurs through the franchising model are further contributing to the boom of this industry, attracting potential franchisees from all across the country.
Increasing Rate of Urbanisation
The increasing urban population is one of the strong impacting factors affecting the Indian home décor industry. Urban culture promotes creative styles which often forces people to invest in the home décor services for enhancing the interiors of their homes.
Additionally, the rising disposable income of people is further contributing as an add-on behind the growth of the home decor market in India. People are willingly searching out and investing in different home decor services that can give their home an enriched and luxurious ambiance.
Entrepreneurs through home decor franchises are trying to hit the bull's eye, keeping the customer's latest demands and trends in mind. This is why India has been a lot of home decor brands emerging that later joined the franchising army for growing their business beyond different territories.
The Growing Disposable Income of People
While the disposable income in families is rising on a regular basis, the trend is heavily affecting different business industries, including the home decor segment. There is a famous line which says, "Your home describes your personality", and the modern-day consumers are taking it very seriously.
People are not compromising when it's about decorating their houses with different decor products and services. In fact, the demand is just elevating, which will continue to thrive for a long time. This transformation is further generating opportunities for home decor franchisors that are ready to serve the people with creative and attractive home-related products and services.
The Indian business ecosystem is now getting invaded with different home décor brands that are later joining the franchising force for enhancing and growing their business. Home Lane is one such brand, which is actively operating under the franchise-based model, offering franchises to potential franchisees.
Home Lane's franchise is available at an investment around INR 1-2 Cr where potential franchisees should have an area ranging between 3000-5000 sq. ft. The brand has managed to evolve as a one-stop interior solutions’ company, which is promising to be prolific in terms of ROI.