Showhomes Closes Out 2020 With Strong Revenue, 5 New Signings and Momentum For Future Market Domination
Showhomes, an interior design and staging services brand that supports both realtors and homeowners, is celebrating its 35th anniversary this year, so it has seen its share of market ups and downs. But in 2020, the brand met the difficulties of COVID-19 head on and rose to the challenge of essential, front-line work with some downright impressive statistics.
After finishing out a strong 2019, which saw the brand’s gross revenue increase 32% from 2018, Showhomes continued on its mission of making home sellers’ lives easier and more profitable.
While COVID-19 restrictions negatively affected the market in March, Showhomes remained active as an essential service. Instead of losing business, Showhomes actually reported a 16% jump in revenue over last March. Matt Kelton, the brand’s COO, said it was a blessing to be able to keep working while so many businesses had to close.
“We’re just blessed that we’re an essential service,” he said. “People need to buy/sell houses. Our business is still strong, and real estate is super hot right now. I think it’s a testament to the model. In 2021, as we celebrate our 35th anniversary, we’re anticipating a lot of growth.”
While Showhomes franchisees never missed a beat as essential service providers, Showhomes’ corporate office labored behind the scenes to make the business more virtual and COVID-19 safe. This included creating a whole new tech platform where the brand can offer dazzling 3D remote viewings to buyers and digital consultations to sellers.
By July, Showhomes experienced something of a growth spurt. In the first week of July alone, three new franchisees signed on, undeterred by the pandemic.
In fact, Showhomes was welcoming a new wave of what Kelton calls “corporate refugees,” or professionals who had decided they’d rather take on the brand’s demonstrated business model than continue working in the corporate world. For Showhomes, 2020 has seen a wave of this type of franchisee signing on.
“We’re going to see a lot more ‘corporate refugees,'” said Kelton. “There are a lot of talented people looking into franchising. This is the time when franchising really flourishes. Real estate does well when you have low interest rates, and the economy is still strong.”
If anything, Showhomes’ big challenge in 2020 has been the shrinking real estate inventory due to how fast homes are closing.
“The biggest issue we have is that inventory is still tight,” said Kelton. “Hopefully home builders will catch up with demand.”
Not only has Showhomes kept up with demand, but the brand has thrived during the red-hot housing market. With homes in markets across the country selling in record time, and for record prices, Showhomes’ model positions it perfectly to cash in on the home buying frenzy.
By working directly with realtors and sellers, the brand’s B2B model has professionals working on both ends, ensuring that jobs come in on time and on budget. Realtors, for example, have been raving about their results with Showhomes in 2020’s surging market.
With tons of momentum and 5 signings in 2020, Kelton feels lucky to offer the opportunity to franchise with Showhomes, a proven growth machine during trying times.
“Compared to a lot of industries, we’re pretty lucky to be where we are and really have any kind of impact from COVID-19,” said Kelton. “A lot of industries had to shut down and are still really struggling.”
The estimated initial investment to own a Showhomes franchise ranges from $85,600 to $164,500. This includes a $49,900 franchise fee.To learn more about franchising with Showhomes, please visithttps://www.showhomesfranchise.com/.