The home service market is booming, with growth projected to hit $1,574.86 billion between 2020-2024.
Right now, the U.S. on-demand home services sector stands at $600 billion and is projected to grow at a CAGR of over 70 percent between 2021 and 2025.
This is thanks in part to the rise of on-demand home services companies, which has seen the residential HVAC industry grow by leaps and bounds in recent years. This is especially due to the COVID-19 pandemic, as more and more people are staying home and relying on these services to keep them comfortable.
If you’re looking to get into the home service industry, there are plenty of business ideas to choose from. Whether you’re a heating and cooling specialist, an electrician or a general contractor, there’s a home service business out there just for you.
However, it can be overwhelming to figure out which type of business is the right fit. That’s why we’ve put together this guide to help get you started in the home service industry.
What is a Home Service Business?
A home service business is, as the name suggests, a business that provides services to customers in their homes. This can include anything from home repairs and home improvement projects to pet sitting and home cleaning.
There are several home service businesses you can start, depending on your skills and interests. If you’re handy with tools, for example, you could start a home repair business. Or if you’re a pet lover, you could start a pet sitting business.
Many of them don’t require a lot of money or experience and are easy businesses to start. You just need some basic business and marketing knowledge, a willingness to work hard and great customer service skills.
The key to success with a home service business is to offer quality services at competitive prices. You also need to be efficient and organized so that you can manage your business effectively.
Once you’ve mastered these elements, you’ll be on your way to running a successful home service business in no time.
On-demand Home Service Businesses Today
No matter which home service business you go forward with, there will always be a market for it.
Take landscaping, for example. According to Statista, home and garden services account for a whopping $111.8 billion market in the United States. That’s a lot of potential customers!
The same is true for electrical work, plumbing, home repairs, and just about any other home service you can think of. In fact, according to HomeAdvisor, Americans spend over $600 billion on home improvement and repair projects every year.
Clearly, there’s a lot of money to be made in the home service business. But it’s not just about the money. It’s also about helping people fix and improve their homes. That’s what sets home service businesses apart from other industries.
So without further ado, here’s a curated list of our most popular on-demand home service business ideas for 2022.
HVAC, or heating, ventilation and air conditioning, is one of the most commonly requested home services. It’s also one of the best home service businesses you can start today.
The reason for this is twofold. First, HVAC systems are a necessary part of any home. Second, they can be expensive to install and maintain. This makes them a perfect target for on-demand home services.
There are a few things to keep in mind if you’re looking to start a residential HVAC business. First, you’ll need to be licensed in your state. Second, you’ll need to have some experience in the industry. This isn’t necessary, but it will help you to start your business off on the right foot.
Once you have the proper licenses and experience, you’ll need to set up a home office. This is where you’ll manage your business and schedule appointments with clients.
One of the best things about starting a residential HVAC business is that it doesn’t require a lot of overhead. You can start your business with just a few hundred dollars in equipment and supplies.
If you’re looking for home service business ideas, then HVAC should be at the top of your list. It’s a necessary service that homeowners are always in need of. And, it doesn’t require a lot of startup capital or overhead.
At Wizard of Sales, we’ll make sure you start off with an effective and streamlined sales strategy.
We’ve helped countless home services businesses boost their lead generation and conversions to get an efficient and speedy ROI, and we can help you too!
As one of the most popular on-demand home services, carpet cleaning is a great way to make money while providing a valuable service to your clients.
With a carpet cleaning business, you will never run out of work, as every home needs this service at some point. And with the proper marketing and branding, you can build a strong client base that will keep you busy for years to come.
Here are some tips on how to get started:
- Choose the right equipment.
When starting a carpet cleaning business, it is important to invest in quality equipment. This will ensure that your work is done efficiently and effectively, which will result in happy clients.
- Establish a strong branding identity.
A strong branding identity will help you stand out from the competition and attract new clients. Make sure your marketing materials (website, brochures, etc.) are well-designed and professional.
- Offer a high level of customer service.
When it comes to carpet cleaning, clients expect quality workmanship and excellent customer service. Make sure your team is friendly and responsive, and always go the extra mile to ensure client satisfaction.
- Get online!
A strong online presence is essential for any modern business. Make sure your website is up-to-date and user-friendly, and invest in online marketing efforts such as search engine optimization (SEO) and pay-per-click (PPC) advertising.
- Be prepared to hustle!
Owning your own business requires a lot of hard work and dedication. Carpet cleaning may not be the most glamorous business in the world, but it can be extremely lucrative if done correctly.
Home removal is one of the best on-demand home service business examples today. People are always moving and need help packing and transporting their belongings which puts this type of business in high demand.
If you want to start a home removal business, you’ll need to invest in some equipment, such as boxes, packing tape and markers. You can also offer your services at a discount to customers who purchase packing materials from you. You’ll also need a vehicle big enough to transport furniture and other large items.
To market your home removal business, create a website or social media page, and list your services online. You can also distribute flyers in your neighborhood and post them to local businesses.
When starting any type of business, it’s important to research the competition and make sure you can offer a service that’s different from what’s already available. If you do your homework, a home removal business can be a lucrative venture.
Interior decoration has shown a lot of growth in recent years and it continues to show even more potential in the future. This is because people are always looking for ways to improve the appearance of their homes.
Not only that, but home improvement projects can be expensive. People are often willing to spend money on home décor to improve the look and feel of their home. Therefore, there is a lot of potential for profit in this industry.
Interior decoration is a relatively easy business to start. You don’t need to have any special skills or training to get started, just an eye for design and some creativity.
When just starting out, offer your services to friends and family for free or at a discounted price. This will help you build up a portfolio of work and get some experience. Once you have a few projects under your belt, you can start charging more for your services and start making a profit.
Landscaping is one of the most in-demand home service businesses today. People are always looking for new and creative ways to improve their home’s appearance, and landscaping is a perfect way to do that.
There are also many different types of landscaping, so you can find a niche that best fits your skills and interests. The most common are lawn care, garden design, tree trimming, landscape architecture and home exterior design.
One of the best things about landscaping is that you can work as much or as little as you want, depending on your needs. You can also charge premium rates because clients know they’re getting quality work.
To start your business on the right foot, be sure to do your research. Read up on the different services landscaping offers and what clients are willing to pay for those services.
Also, be sure to have a solid landscaping business plan in place. This will help you stay organized and make sure you’re making the right decisions for your business.
Residential Plumbing Services
Residential plumbing services is another promising on-demand home service business to consider in 2022.
For one, there is a high demand for plumbing services, especially when it comes to emergency repairs. Plumbing is also complex and challenging trade that requires a high level of skill and expertise.
If you’re looking to start a residential plumbing service, you will need to invest in some basic equipment and tools, such as a plumbing truck, a variety of hand tools and a selection of plumbing supplies.
You’ll also need to have a good understanding of the fundamentals of plumbing. This includes knowledge of the different types of pipes and fittings, how to recognize and repair common plumbing problems, and how to install plumbing fixtures.
Once you have the necessary skills and equipment, you’ll need to market your services to potential customers. Networking with local home builders and contractors is a great way to start. You can also promote your business through online directories, classified ads or home improvement websites.
Residential Furnace Repair/Maintenance
Like many of the other types of home service businesses, residential furnace repair and maintenance is a great business to start because of its high levels of market demand.
Furnaces break down during all times of the year, so you’ll always have customers who need your services. In addition, furnaces need to be regularly serviced to keep them running efficiently, so there’s a steady stream of work for you.
Furnace repair and maintenance businesses also don’t require a lot of specialized equipment or training. You’ll need a few basic tools, like a screwdriver, wrench and pliers, and you should be familiar with how to service furnaces.
Not only that, this type of business can even be run from the comfort of your own home. This means that you don’t have to worry about setting up a shop or hiring employees. You can simply take care of all the work yourself.
Starting a house cleaning business is an efficient way to make money while working from home, and there’s a high demand for it. In fact, a recent study by HomeAdvisor found that nearly 60 percent of homeowners hire professional home cleaners at least once a year.
There are several reasons why house cleaning is so popular. For starters, it’s a great way to earn some extra money.
House cleaning can be a lucrative business, especially if you’re able to charge premium rates. And since it’s a home-based business, you can work flexible hours and set your own schedule.
If you’re thinking of starting your own house cleaning business, there are a few things you need to know before getting started.
For example, you’ll need to decide what services you are offering as well as what your rates will be. You’ll also need to create a business plan and find some reliable cleaners to help you out.
Pool installation and maintenance is one home service business that is seeing a lot of success today.
This is because a pool can offer homeowners a great way to cool off during the summer, it can be a great place for family and friends to gather and it can also provide a source of exercise. Pools can also add value to your home, making it a more attractive investment.
Being an on-demand service, homeowners can call you when they need your services, which means you don’t have to worry about maintaining a brick-and-mortar store. All you need is a truck and some basic tools to get started.
This is a great business opportunity for those who are comfortable working with their hands and who enjoy being outdoors. It’s also a great business for those who are looking to start their own business with a relatively low overhead cost.
Residential Electrical Installation/Repair
A residential electrical repair business provides a great way to make money while helping people in your community, and it doesn’t require breaking the bank to get started. In fact, there are several benefits to starting and running a residential electrical repair business.
Some of the key benefits include:
- Flexibility: A home service business gives you the freedom to work when you want, where you want, and how you want.
- Independence: You are your own boss and make your own decisions.
- Income Potential: There is no ceiling on how much money you can make in a home service business.
With the right planning and execution, you can create a residential electrical repair business that provides you with both financial and personal independence.
Pest Control Services
There are many benefits to having a pest control business in 2022.
For one, it is a recession-proof business. A recession-proof business continues to do well no matter what the economy is doing. This is because people will always need services such as pest control, even during tough economic times.
Another benefit of having a pest control business is that it is a service that is always in high demand. People will always need help getting rid of pests, whether it is ants in the kitchen or rodents in the attic.
This means that your business will always have customers, which is a great thing for any entrepreneur.
Finally, pest control is a very lucrative business. The average profit margin for this type of business is around 50 percent, which is much higher than the profit margins for many other types of businesses.
Home Painting Service
Last but not least, we have the home painting business. One of the biggest benefits that home painting businesses offer is the wide range of services that they offer.
This means that customers can get everything they need from one business such as interior and exterior painting, home repairs, carpentry and more.
Since home painting businesses are often mobile, they can also travel to wherever the customer needs them. This offers convenience and affordability to the customer as well as freedom for the business to work their own hours.
Above all, make sure you develop the skills necessary to succeed in this home service business. Painting, carpentry, repairs and more are all important skills that customers will be looking for.
What are the most profitable home services businesses?
As you can see, many home service businesses are profitable and totally worth the time, effort and investment required.
Every one of these businesses will always be in demand- as long as people continue to live in houses and apartments. Therefore, it would be difficult to deem a certain one the most profitable of them all.
However, based on research, we’ve found that America’s favorite home service businesses are:
- Home cleaning and HVAC repairs.
In 2021 alone, home cleaning has made an estimated $51.9 billion and is only projected to grow in the years to come. Likewise, HVAC repairs are a multi-billion dollar industry and are only becoming more popular as homes become more and more reliant on cooling and heating systems.
- Electrician and plumbing services.
Studies have shown that the demand for electrician and plumbing services is consistently high, as issues with these systems can occur in any home. It’s been projected that the electrician industry will grow by 14 percent in 2022, and the plumbing industry is expected to grow by 11 percent.
- Salon and beauty treatments.
It’s no secret that Americans love to take care of their appearance, and the salon and beauty industry is proof of that. In fact, this industry has made a profit of over $56 billion in the U.S. alone and is expected to grow by another five percent this year.
No matter what your interest, skillset or passion may be, there is a home-based business for every kind of person.
As long as you can effectively weigh your options based on the criteria required to make your business successful, you’ll be sure to find a home-based business opportunity that’s perfect for your needs.
However, this should never be done completely without some help.
That’s where we come in!
At Wizard of Sales, we’ve 4x-ed residential home service businesses with under $10 million in revenue and got their net profits to double-digits within two years. If you’d like the same results, contact us today!