The Garage Enhancement industry is here too stay!
Recently recognized as the fastest growing segment with-in the home improvement industry, the garage has proven to be a viable desire for homeowners all across the country. With the ‘Big Box’ retailers now seeing the opportunity taking place in the garage look for the overall consumer awareness to only rise at the expense of their multi-million dollar marketing budgets. The experts are comparing this business to the closet organization boom of the 1990’s and they predict the garage enhancement industry will reach in excess of $4 billion by the year 2010 and will double that over the course of the next 5, bringing an estimated total to $8 billion by 2015.
As this emerging industry is just beginning to unfold, the manufactures with-in it are beginning to blossom. What once was plagued by “old beat-up” kitchen cabinets and peg-board is now being taken over by sophisticated garage specific materials such as; Car Lifts, Metal roll-around cabinets, garage grade wood cabinets, slat-wall, overhead storage racks, and custom designed & built workbenches. Also as part of the overall garage make-over homeowners are requesting a solution for their undesired and damaged concrete floor. Consumers have a variety of options when looking to invest into a new garage floor. Some companies offer a modular tile system that can be catered to match the sports-car in-which it sets underneath. Other companies have full service concrete resurfacing available, which can range from a solid gray paint to a decorative paint-chip application. Although there have been some “less-than-satisfactory” floor products that really did nothing more than paint the existing concrete, there are companies and manufactures that are emerging with some very high quality products and equipment. These have been proven to stand the test of the climate and vehicle abuse. With today’s technology and cost of raw materials at a significant low, look for the concrete coating business to only gain momentum in the residential garage and one day become as common as carpet or hardwood floors in the living room.
The media and press have done an excellent job of informing the general public of record high gas prices, increasing interest rates, and the dramatic decline in the new-home housing market. All of this to only fill the consumers mind with question and doubt of how to spend their money. What they have failed to share is that when fewer homes are being built and fewer people are moving, this means more dollars are being spent in the remodel sector of the housing industry. NOTE: the garage is the front runner! Since the home is the largest asset and investment for the majority of Americans, why not make their investment that much more valuable by making it more functional and organized. With the modern garage recognized as the most visible and underutilized room of the home, this leaves an opportunity for a lot of home remodelers and contractors to be the “knight-in-shining-armor” for their current and potential customers.
In Summary, Garages all over America are being updated and remodeled everyday. With the demand on the rise with no end in sight the supply is where the opportunity lies. Weather you are a current business owner looking to diversify your current operation, a home remodeler looking to offer more to your customers, or just someone that is looking for a tremendous opportunity, the Garage Enhancement Industry should be at the top of your list.
Posted by garageguru 
