President, Alair Homes
US & Canada
Growth
We’re projecting very similar to what we have seen over the last few years. We’re projected to continue growth probably north of 30% year over year.
What we’re seeing is in two very distinct segments of our business, one is more on the higher-end luxury space, both in remodeling and new builds because the vast majority of the clients that approach Alair are less dependent on interest rates.
Project Types
We’re seeing most of our offices writing a lot of planning agreements that are quite sophisticated and technical, meaning they’re higher-end projects. We’re seeing less of, ‘Hey, we need an extra bedroom,’ because we’re not working from home. We saw a lot of that in the past, I think we’ll see less of that.
Regional Trends
We’ve seen a lot of growth in the Canadian markets. Pre-pandemic, there was flattening and then post-pandemic, we’ve seen a lot of growth. And look at the trends of where people are moving to. I think that’s still hanging over from the Great Migration, as they call it. I think we’re seeing the results of that now.
I think [a downturn] is going to be very isolated. It will be little pockets where people or businesses are going to have different challenges. Des Moines, Iowa is going to look different over the next 12 to 24 months than Charleston, S.C. Our job is to figure out what are the differences. So I don’t think it’s full steam ahead, but focus on the people and everything else takes care of itself.
RELATED: 2023 Game Plans: Modest Growth Expected in Bathroom Remodeling Market
Challenges
I think that the number one challenge this industry is going to continue to have is talent acquisition. We absolutely have to, as an industry, continue to expose the opportunities, both personal and professional, that this industry delivers for people that may not have thought about it before.
Advice
Pay close attention to the human element of your team. Bring awareness to mental health, to physical health. It’s been a challenging couple of years for everybody. Don’t overlook the fact that more and more people need to know that they’re working where it’s safe to be able to have conversations that maybe in the past, just never were brought in. My advice to everybody right now is to double down and invest in your people.
Read all 2023 Thought Leader predictions and game plans here
Add new comment
Related Stories
Brian Gottlieb Receives Remodeling Mastery Award
Presented by industry icon, Mark Richardson, the award celebrated Gottlieb’s extraordinary impact on remodeling
What's Beyond the Hammer?
Working with Brian Gottlieb on the book Beyond the Hammer provided a masterclass on how to build an aligned team
Real AI Applications For Remodelers
Tech-forward remodeler Michael Anschel shares how he uses artificial intelligence in his business.
How to Eliminate Boring, Languishing Meetings
Leff Design Build ensures maximum productivity and efficiency through these straightforward methods
5 Counterintuitive Strategies to Improve Your Business
Follow these strategies to inspire employees, instill trust, and beat the competition
Couple Act As Much More Than General Contractors
How LBR Partners uplifts and educates their Spanish-speaking trade partners
Artificial Intelligence Meets Design
An architect looks at the pitfalls of using technology to take over human design tasks
How to Correctly Hire for Business Growth
Refloor CEO Brian Elias shares exactly how his company hires the correct people for the correct seats
Managing Business Risk to Embrace Risk
As remodelers, our product is risk. Yet within our businesses, we fear risk. Just like with your projects, if you plan accordingly, your risk comes with reward
What the Most Successful Remodelers are Doing Right Now
Industry advisor Mark Richardson shares the answers to his three most asked questions: What's the remodeling market like? What are other remodelers doing? How do I measure up?