Gaining Momentum: Showhomes Experiences Growth Spurt in July




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Gaining Momentum: Showhomes Experiences Growth Spurt in July

In spite of a tough economy, Showhomes capitalizes on its ability to provide services remotely to have a strong end to Q2.

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Sarah Baumann
Contributor
8:00 AM • 08/27/20   Franchisor Spotlight

Since early March, the COVID-19 pandemic has been impacting the economy at all levels, and affecting industries in different ways. In the real estate industry in particular, agents have had to get creative to sell properties. Home staging company Showhomes has demonstrated that their services play a critical role in the real estate market now more than ever and have proven that remote services can make the difference in the buying and selling process.

People are taking note of the value Showhomes can bring the real estate industry. As many people are reconsidering their career choices and looking to take ownership of their livelihoods, people are investing in the staging franchise. In the first week of July alone, Showhomes signed three deals in Denver, Colorado; Chattanooga, Tennessee and Franklin, Tennessee.

"We've been really happy with the growth we've seen in the latter half of the quarter," said Chief Operating Officer of Showhomes Matt Kelton. "Our model is proving to be pandemic-proof. In a tough economy, sellers want to be sure they're getting the best price for their homes, and staging is one failsafe way to ensure that homes sell at the highest possible rate."

In a world where social distancing is necessary, the ability to work remotely has also been a driving factor for new franchisees to invest in Showhomes. The staging franchise is also developing new services to help their franchisees stay on pace with the changing times. Virtual tours have become an essential capability in the real estate world, and Showhomes has developed their own program that includes an incredible 3D tour.  Virtual consultations and digital proposal capabilities have also been rolled out to keep things as socially distanced as possible.

"Showhomes is in the heart of the home-selling season, and, hopefully, when the pandemic eases up, we predict we will see an explosion of business as the sales cycle is compressed by several months," said Kelton. "March was surprisingly strong with a 16% revenue increase over last year. We also saw a 30% increase in YTD total gross revenue over Q1 of 2019, which was already a record year. Overall, the support and proven infrastructure that we are able to provide franchisees during times like this is why our franchise partners invest in our concept in the first place."

These are just a few of the ways that Showhomes has changed and adapted during the pandemic. The franchise has also offered financial resources in these challenging times to current franchisees, such as guidance on the CARES Act, SBA loan applications and Paycheck Protection Program loans. Showhomes' team has also upped their game in the training and development of franchisees, with frequent team conferences and newsletters to keep everyone updated on new processes and health codes.

"As an essential business supporting the real estate industry, we remain open in 100% of our locations," Kelton said. "In this unprecedented environment, timely information is essential, and we're focused on supporting franchisees through these challenging times."

The brand's franchisees are certainly meeting the challenges COVID-19 is presenting head on, and their leadership team has taken steps to acknowledge their hard work. Showhomes recently recognized franchisees in Alabama, California, Florida, Illinois, Kansas, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, and South Carolina for excellence in restyles, updates, and best design among other awards given out at its annual conference, which was held virtually in July. Its location in Triad, North Carolina was recognized as the Showhomes franchise of the year.

As Showhomes continues to demonstrate their ability to grow in the pandemic, the franchisor is setting its sights for growth in particularly hot real estate markets such as Northern California, Seattle, and various locations in the Northeast like Washington D.C. and Northern Virginia. 

"These are difficult times for folks, and our services aim to make things a little easier for them to navigate the stressful process of selling a home," said Kelton. "We intend to keep our momentum going through the third quarter and are excited to see where we can grow from here."

Visit here for more information on Showhomes.