As Remodeling trends continue through 2022, contractors can take advantage of the forecast for home improvements and overcome the challenges associated with them. Educating homeowners, using technology to streamline processes, and offering several payment options will encourage business growth.
According to the Leading Indicator Remodeling Activity (LIRA) released last month by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, “double-digit gains in annual homeowner renovation and maintenance expenditure will top out in the third quarter of 2022 before beginning a deceleration toward more sustainable rates of growth.” What does this mean for our industry? Increased revenue, growth, and opportunities for new challenges. If you’re operating with a growth mindset, then you’re excited to tackle the challenges that coincide with an increase in home improvement projects across the nation.
What are the challenges associated with a home improvement boom?
- Homeowners think they can do projects themselves.
- Material shortages are increasing project timelines.
- The renovation boom drives demand for contractors yet there is a labor shortage.
- Homeowners have an interest in renovating but climbing interest rates could discourage homeowners for projects due to high costs (LIRA).
- Did you start a renovation project over the pandemic and did not complete it? With rising costs, it’s up to contractors to educate homeowners and help them understand why unfinished projects during the pandemic may cost more than anticipated post-pandemic.
How do you navigate these challenges skillfully?
To navigate these challenges skillfully contractors should educate homeowners on sweat equity. Specify which projects homeowners can do themselves and which projects should be done professionally. Contractors can also partner with financing companies to give homeowners more payment options to help homeowners make decisions more quickly without worrying about cost. Contractors should use technology to streamline processes and start implementing it now before the busy season starts.
How can Leap help you take advantage of the current home remodeling boom?
Manage Your Appointments in One Central Location
- Easy flow of appointment information from CRM to Sales
- Easy access digital presentations, brochures and pitch books
- Send your resources to customers for them to keep and share with others
Powerful & Dynamic Contracts in One Digital Proposal
- Modify dynamic contracts and calculations instantly during the sales process for homeowner needs
- Easily combine all your documents into one digital proposal
- Branded digital estimates and contracts e-mailed to homeowners during the sales process
Manage Payments & Offer Financing to Homeowners
- Send completed contracts from sales to production immediately credit application and payments
- Capture and process electronic payments
- Offer financing from multiple lenders and get rapid updates
Create Customizable Products to Give Homeowners Options
- Rapidly update pricing and remove out of stock items
- Flexibly customize packages from the home office
- Establish standard pricing calculations and formulas for each job
Measure and Diagram Jobs to Push Projects Through Production Faster
- Branded measuring sheets with ability to sketch and draw
- Avoid separate data entry and import aerial measurements directly into contracts “Advanced Features”
- Resulting leads and automatically sending reminder prompts
Control Price From Your “Home” Office
- Log all history and activity during the sales call
- Rehash appointments with the data from old estimates
- Price and Inventory Control
- Remove out of stock items
- Package it well across the company
- Easy price increases uniformly
Leap is a point-of-sales software that takes multiple steps in your sales process and puts them in one digital resource. With Leap, you can pitch your company with updated marketing materials, pull aerial measurements into Leap to show how much material is needed, select products, present pricing packages, sign contracts, offer financing, and process payments ALL with the homeowner in a single appointment.
- Spending hours in spreadsheet hell
- Errors and Redundancies
- Losing Time or Missing Appointments
Interested in learning more about Leap?