The remodeling industry has seen enormous uncertainty over the past few years. While market conditions look a little clearer today, it can still be hard for company owners to project growth and make decisions about capital investments coming out of a period of intense—some would say historic—demand. That’s why we decided to focus on what a select group of key industry influencers see for 2023.
In looking at these predictions, some trends are immediately clear. As a general rule, companies plan to concentrate more on marketing as they see the days of “just taking orders” to be officially over.
Another insight from some of these Thought Leaders is a sense that homeowners wanting to go forward may take longer, end up with smaller projects, and require more hand-holding to get there.
Finally, and perhaps more importantly, all our sources mentioned a need for greater vigilance, whether that be carefully watching cash flow, investing in your team, or a more focused approach to sales.
Taken together, you will find actionable advice here regardless of your business area or company size:
Click the below links to read 2023 business strategies and perspectives from our Thought Leaders:
Invest in Your People - Rob Cecil, Alair Homes
Less Growth, More Marketing - Tanya Donahue, RIKB
Larger Remodelers to Benefit Most from Lead Times - Vince Nardo, Reborn Cabinets
A Year of Concerns and Opportunities - Larry Weinberg, BOWA
Continuing Challenges Mean Extra Vigilance - Andy Wells, Normandy Remodeling
Modest Growth Expected in Bathroom Remodeling - Brad Hillier, Re-Bath
Add new comment
Related Stories
6 Tips for Software Adoption in a Remodeling Company
A design-build owner shares how he successfully implemented new softwares into his processes
6 Results-Proven Marketing and Sales Tips for Contractors
The Pinnacle Experience’s keynote speaker, author of "They Ask, You Answer" offers results-driven tips contractors can start today for improved leads
Forty Under 40 Remodeling Trendsetters
The new ideas embraced by our Forty Under 40 winners are examples of forward-thinking leadership in remodeling
How to Create a World-Class Remodeling Team
Great remodeling companies position themselves for the future with the right players
How to Increase Your Odds of Closing Remodeling Sales
Use these tips to hone your sales process and grow close ratio
Everyone Should Have a Number: KPIs for Your Design Build Team
Measuring key performance indicators guides your team to success while creating accountability and ownership
Becoming Profitable in Your Remodeling Niche
The 2023 NAHB Remodelers Chair shares insights and advice for contractors in our 2024 Thought Leader predictions series
Combat Remodeling Market Pullback with Increased Marketing
Mosby Building Arts' president shares his expert predictions and approaches to remodeling in 2024 for Pro Remodeler's Thought Leader predictions series
A Mindset of Serving Others
A research study shows surprising results about what makes us take ownership of our work.