N-Hance Wood Refinishing Sets Sights on New World of Opportunities in 2022, Aims to Award 40 Franchises
LOGAN, Utah, Jan. 5, 2022 /PRNewswire/ — Consumer demand for home improvement projects remains steadfast – especially as the pandemic-inflected increase in time spent around the house becomes the norm and home costs continue to rise across the country. N-Hance Wood Refinishing® has seen the demand first-hand with some franchise owners reporting double digit increases in consumer leads year-over-year. Prospective franchisees are taking note as N-Hance closed out 2021 with more than 25 new franchise openings and projects to award 40 franchises this year.
While homeowners turned to Do-It-Yourself projects throughout 2020 and 2021, there’s a trend in leaving projects such as big kitchen remodels, home office, and flooring to the professionals, according to the Lending Indicator of Remodeling Activity.
N-Hance’s multi-service offerings model continues to drive revenue for franchisees, while providing customers with quality work. For example, Cabinet Door Replacement has helped grow N-Hance’s average ticket price to nearly $5,000 over the past few years, while reducing labor. Around 53% of its franchisees are offering this service through N-Hance’s preferred vendor, with it generating around 27% of their revenue. All of N-Hance’s cabinet services offerings account for 79% of total revenue.
“With a strong consumer demand for large-scale home renovations, we have worked hard to equip our franchisees with the right tools and resources to deliver on every project and consumer need,” said D’Wayne Tanner, Senior Vice President of Franchise Sales. “Their success is our success. We had a great 2021 which has put us in a position to have an even better 2022. We look forward to raising the bar and accelerating our development strategy, leveraging the surge in the home services industry to continue to meet all of our growth and performances goals.”
The brand’s achievements have not gone unnoticed as the franchise industry has honored N-Hance with several recent award wins including earning a spot on Franchise Time’s prestigious 2021 Top 400 ranking that names the largest U.S.-based franchise systems by systemwide sales to better encompass the biggest brands in franchising along with promising concepts in growth mode.
N-Hance sets the industry standard for hardwood refinishing. Helping lead the company’s growth is its one of a kind “Lightspeed® instant curing system” for hardwood cabinets and floors which saves customers time and money over the traditional refinishing, refacing or replacing alternatives. Decades of experience paired with backing by franchise powerhouse, BELFOR Franchise Group makes N-Hance a proven investment opportunity that is primed for growth in this new era fueled by self and home-improvement.
In the midst of the booming home services industry, N-Hance franchisees have an advantage through access to one of the most comprehensive initial and ongoing training programs in the industry. N-Hance is also an affordable, highly scalable opportunity with strong profit-potential. The initial investment to begin operations of a new N-Hance franchise ranges from $52,369 to $168,747, and the top quartile of franchisees average over $840,000.
For more information about N-Hance Wood Refinishing and the franchise opportunities, please visit https://nhancefranchise.com/ or call (615) 988-3754.
About N-Hance Wood Refinishing™
Founded in 2001, N-Hance Wood Refinishing is the largest wood refinishing company with nearly 500 franchises across North America. N-Hance has been featured in Martha Stewart Living, Better Homes and Gardens, HGTV and more. The brand has become a household name in the $450 Billion home improvement industry because of its innovation, eco-friendly proprietary processes, and dedication to franchisees. N-Hance Wood Refinishing is a member of the BELFOR Franchise Group family of residential and commercial services brands.
View original content to download multimedia:https://www.prnewswire.com/news-releases/n-hance-wood-refinishing-sets-sights-on-new-world-of-opportunities-in-2022-aims-to-award-40-franchises-301454423.html
SOURCE N-Hance Wood Refinishing