News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
2013’s Remodeling 550 Group Predicts Robust Growth This Year
REMODELING / August 21, 2013
Top full-service remodelers and home improvement contractors expect $3.84 billion in sales
America’s biggest remodelers expect to see a 19.9% increase in revenue from 2012, while the nation’s largest home improvement contractors are looking for a 14.5% gain this year, the just-issued Remodeling 550 shows.
The top 300 full-service remodelers responding to this year’s survey said that they expect to take in $1.35 billion this year, according to the report in the August issue of REMODELING. That compares with $1.12 billion in 2012 collected on 47,278 jobs at an average value of $27,768.
Meanwhile, the 175 leading replacement contractors (companies that specialize in a home improvement services such as replacing windows or siding) said they look to collect $2.49 billion in 2013, up from last year’s $2.18 billion. In keeping with their line of business, replacement contractors did more than 10 times as many jobs in 2012 as full-service remodelers—499,695 in all—at an average job value of $4,355.
The Remodeling 550 also tracks 25 of the biggest companies that do insurance restoration work and just over 50 franchised businesses. The data is compiled from surveys by The Farnsworth Group of Indianapolis and then is supplemented and organized by staffers from Hanley Wood’s REMODELING and REPLACEMENT CONTRACTOR titles.
“There are more than a half million separate business entities that offer home renovation services,” notes Jim Cory, who organized and wrote this year’s Remodeling 550 report. “Most are single proprietors, and only a minority is big enough to float a payroll. So a $5 million remodeler is a large remodeler. In contrast, this year’s biggest full-service remodeler, Alure Home Improvements of East Meadow, N.Y., took in $39.5 million last year.”
Rounding out the top five full-service remodelers are Foxcraft Design Group, in Falls Church, Va., with 2012 revenue of $31 million; Greater Dayton Building and Remodeling, in Beavercreek, Ohio, $27.8 million; Gardner/Fox Associates, in Bryn Mawr, Pa., $23.9 million; and Patio Enclosures by Great Day Improvements, in Macedonia, Ohio, $23.2 million. (See remodelingmag.com for the complete list.)