How Big Is the Industry?
TruBlue franchise opportunities are meeting the demand that millions of Americans across generations have for home care and management services
The demand for home care and management services is so large that it is almost hard to quantify because it encompasses millions of people with different reasons for needing a provider for regular and ongoing home maintenance. Be the seniors, who desire to age in place, busy families who simply do not have the time to devote to keeping their house in tip-top shape, young professionals who do not have the desire to pick up after themselves but have ample disposable income, or property managers who need to ensure that their investments retain their value, one thing is for sure: the home management services industry is going to continue to skyrocket for years to come.
If we take these different demographics one at a time, we can truly understand just how large the demand for home management services truly is.
Seniors: 10,000 people will turn 65 years old everyday for the next 20 years, and 87% of seniors ages 65 and older desire to live in their homes as they age. This demand has created a booming $180 million senior home health care industry, and there are dozens of brands that focus on meeting the health and social needs of seniors from the comfort of their homes. What these brands do not offer is assistance to the one obstacle seniors face if they want to be realistic about aging in place: home management. It is of paramount importance for seniors to live in clean, tidy homes and have a trusted partner they can turn to when the inevitable repair is needed, or when the lawn needs to be mowed. According to the Centers for Disease Control and Prevention, 60% of seniors have at least one basic actions difficulty or complex activity limitation, requiring millions of seniors to need to have their homes outfitted for accessibility.
Baby Boomers: According to The Demand Institute, 65% of the 75.4 million baby boomers want to age in place. Not only is this demographic the richest in American history, but this wealth has allowed them to see their golden years differently than previous generations, as years determined by choice, happiness and the desire to continue to live as they do now. “Most baby boomers plan to retire exactly where they are – that is, they will ‘age in place,’” The Demand Institute reports. “True, some boomers have already moved in the past several years – and may not seek to move again – but the majority are staying in homes that they have lived in for a decade or longer.” This desire to continue to live on in their homes, coupled with an astonishing amount of disposable income, makes baby boomers ideally suited for home management services. According to The Joint Center for Housing Studies at Harvard University, baby boomers accounted for almost half of the entire $280 billion spent on home remodeling in 2013. Given that Fox Business reports that baby boomers are still expected to inherit an additional $15 trillion in the coming years, it is likely that this generation will continue to spend lavishly on home upkeep and maintenance going forward.
Busy Families: The Bureau of Labor Statistic reports that “of the nation’s 81.4 million families, 80.3 percent had at least one employed member in 2015.” The Pew Center for Research reports that “in close to half of two-parent families, both Mom and Dad work full time,” which is a number that has consistently climbed through the years and is unlikely to slow anytime soon. How do these families manage their workload, while taking care of their children, and find the time to enjoy the fruits of their income? More and more of this demographic is turning outside the home for help. According to U.S. News & World Report, working parents are hiring cleaning services to help offset stress and enjoy more quality time with their families. “If you’ve ever wondered if you should hire a cleaning service, the answer is almost a no-brainer,” U.S. News & World Report reports. “Of course you should. Who wouldn’t want to have someone come in and clean their house or apartment?”
Young Professionals: It isn’t a surprise that the generation who never had to do a load of laundry is turning to professionals for help with, well, everything. It’s not really shocking, then, that there are hundreds, if not thousands, of articles seeking to advise millennials on why they should hire cleaning services, handyman services, and how to understand a good brand from a lousy one. What is surprising, however, is that millennials are now the largest demographic in the United States, 75.4 million, and that their discretionary income is rising. The New York Post recently reported that millennials “make up 13% of the ‘wealth and affluent market,’” or those whose wealth encompass $100,000 or more, and this number is going to continue to climb as the economy continues to improve.
How Does TruBlue franchise opportunities capitalize on the ever growing demand for home management services?
What unites these different demographics is their need for a trustworthy, dependable and reliable brand to manage the ongoing maintenance needed for comfortable, clean and safe living. Because TruBlue is the first-of-its-kind, premier national brand bringing all of the home management services under one roof, our franchisees are able to win an outsized share of the massive demand.
TruBlue is the rare franchise system that doesn’t have any direct competition. While there are are several brands that focus on one service in the home management sector, and thousands of local mom-and-pop operations across the country, their reputations vary and they do not have the same commitment to providing exceptional customer care, nor the resources to handle the wide variety of jobs. TruBlue franchise opportunities offer a nationwide presence with ongoing professional support for all operations.
“Before TruBlue, consumers had to call a different company or a different local provider for every unique issue that would come up,” says Greg Platz, President of TruBlue. “Now, they only have to make one phone call for any and every home management issue, from cleaning, to handyman services, to projects such as the installation of wheelchair ramps to provide ease of access, and beyond. That alone is revolutionizing the home management industry. As far as convenience and accessibility are concerned, we’re the only game in town, and that allows us to capture so much more of the market and appeal to so many different types of customers from seniors to busy families.”
The accessibility that our all inclusive home management service has to consumers cannot be overstated. For the first time, consumers only have to make one call for any and every of their house and lawn care needs, and this translates into a business that is easy to win new customers in any market.
“We started out by focusing on seniors, but once we became established, we found that almost everyone in our community needs our services and our business hasn’t stopped growing since we opened,” says Kay Diemont, co-owner of a TruBlue franchise in Virginia. “Our main customers now are working families, who simply do not have the time to devote to keeping up their houses, but we also work with veterans, which is a great joy to us. It’s also extremely easy for us to win commercial projects, and we have serviced schools and office buildings, but we had to slow that down due to how many customers we have. We’ve grown our business so rapidly, that we’ve scaled up to an office and have a full-time manager, so that we can enjoy the fruits of this new career and take time off to travel and spend with our family.”