10 Profitable Home Improvement Businesses to Launch in 2023

Home improvement services are in demand, especially with homeowners wanting to revamp their kitchens and bathrooms. HGTV shows can make it seem like DIY renovations are simple, but many projects require training and expertise.

On average, the best ROI for home improvement is on projects that add functional space and square footage. Examples include finishing basements or adding new bedrooms/bathrooms.

1. Kitchen & Bath Remodeling

Kitchen and bathroom remodels are two of the most popular home improvement projects. Besides giving a house a fresh new look, they boost its value and can attract potential buyers.

This business also helps homeowners who have aging family members by installing accessible features such as curbless showers and wider doorways. It’s important to stay up-to-date with the latest kitchen and bathroom fads as well as energy-saving appliances.

2. Apartment Prep Services

Apartment turnover businesses specialize in cleaning and basic repair work to help landlords prepare apartments for new tenants. The business can be lucrative as tenants often leave apartments in a messy condition that requires cleaning, painting and carpet shampooing.

Startup costs include hiring employees, renting office space and a van for transportation, as well as the purchase of equipment and supplies like vacuum cleaners, scrub brushes, garbage bags and sprays.

3. Cleaning Services

Cleaning services are a great way to help homeowners and businesses keep their properties in good condition. This type of business typically has low startup costs and is easy to scale.

You can also offer specialized cleaning services like chimney and fireplace cleaning or biohazard cleanup. These types of services often yield higher profits since they are not as common.

4. Home Maintenance & Management

Home maintenance services help homeowners save money in the long run. Regular upkeep like checking drains and dryer vents helps reduce the likelihood of costly repairs down the road.

Keep residents and owners in the loop through the resident portal with push notifications, resident discussion boards, and a full schedule of upcoming inspections and work orders. This can reduce maintenance costs, improve resident satisfaction, and speed up the inspection process.

6. Landscape Design & Installation

A well-designed landscape can add to your home’s value and increase its curb appeal. It can also separate your property from other homes in the neighborhood, giving it a unique look.

Upselling can drive your sales revenue and profits up, especially for items with high markups (patio furniture, lighting kits). Optimizing your field labor ratio can improve your profit margin too.

7. Home Repair & Maintenance

Home repair services help customers keep their homes safe, functional and comfortable. This can include fixing heating and cooling systems, maintaining flooring, walls, and house paint, and repairing fences.

Home repairs also increase property value. Keeping a well-maintained house and yard can make it easier to sell and attract potential buyers. This makes a home maintenance business a smart investment.

8. Window Treatments & Blinds

Window treatments such as blinds and shades can add value to homes, especially when they are designed for specific spaces. For instance, drapery is an excellent addition to rooms that require a sophisticated dimension.

New window coverings can also help reduce energy costs and provide insulation. Plus, they’re easier to clean than curtains and often come with child-safe features for added safety.

9. Painting & Decorating

A fresh coat of paint can give a home or business an instant boost. It can also be a great way to keep insects away and protect the building’s structural integrity.

Painting and decorating professionals work indoors and outdoors in a variety of different environments including homes, public buildings, factories and offices. They apply paint, decorative coatings, wallpaper and gilding to a high standard.

10. Interior Design

Interior design can be a very profitable business. Many home improvement professionals work in this industry because they enjoy creating aesthetically pleasing spaces for clients.

They can also save homeowners money by recommending the right retailers and vendors for certain materials such as wood or granite.

Moreover, interior designers can provide a wide range of services such as developing design concepts; generating 2D or 3D renderings and projects visualisations.