The remodeling industry has seen enormous uncertainty over the past few years. While market conditions look a little clearer today, it can still be hard for company owners to project growth and make decisions about capital investments coming out of a period of intense—some would say historic—demand. That’s why we decided to focus on what a select group of key industry influencers see for 2023.
In looking at these predictions, some trends are immediately clear. As a general rule, companies plan to concentrate more on marketing as they see the days of “just taking orders” to be officially over.
Another insight from some of these Thought Leaders is a sense that homeowners wanting to go forward may take longer, end up with smaller projects, and require more hand-holding to get there.
Finally, and perhaps more importantly, all our sources mentioned a need for greater vigilance, whether that be carefully watching cash flow, investing in your team, or a more focused approach to sales.
Taken together, you will find actionable advice here regardless of your business area or company size:
Click the below links to read 2023 business strategies and perspectives from our Thought Leaders:
Invest in Your People - Rob Cecil, Alair Homes
Less Growth, More Marketing - Tanya Donahue, RIKB
Larger Remodelers to Benefit Most from Lead Times - Vince Nardo, Reborn Cabinets
A Year of Concerns and Opportunities - Larry Weinberg, BOWA
Continuing Challenges Mean Extra Vigilance - Andy Wells, Normandy Remodeling
Modest Growth Expected in Bathroom Remodeling - Brad Hillier, Re-Bath