If you’re the type of owner or manager who works IN the business, the kind of owner who sells jobs, who drafts estimates, who manages field and office staff, who coordinates advertising programs, and who daily interacts with clients, and who, at the end of a given day, might drive to a jobsite to finish up a tile job—our list of 50 trends and change agents for 2024 will certainly get your attention. It starts on page 30.

Many of these trends—artificial intelligence for example—are already on your radar. Others are surely not. In fact, the volume of trends and forces shaping small business today is remarkable. They’ve been collected and curated for that reason. Despite all your ongoing responsibilities, this list should make you pause, step back and devote more time to working ON your business rather than IN it.

If, however, you’re the type of owner or manager who long ago ditched their tool belt, and who works ON his or her business and hires others to work IN it, then this list of 50 trends and forces is also up your alley. It will spur further research and help identify coming threats and emerging opportunities. It is your way of being proactive. You tend to anticipate and embrace change.

Many in this group have built businesses capable of returning net profits at or near 9 percent annually. That number applies to those operating a design-build, kitchen and bath, or full-service firm while those who operate in the home improvement or replacement sector can expect to achieve net profits of 12 percent to 20 percent annually.
Those net profit targets are not typos. This is a great industry for many reasons, among them is its low barriers to entry and a great return on energy and enterprise. Hard-working people from all backgrounds often start at the bottom and rise to ownership and prosper to very high levels of income and wealth.

The profits in the home-improvement sector are as strong as some of the biggest industries in the U.S. That’s why big investors have come calling. That’s why those investors have gone on a buying spree over the past several years and created a class of super-big specialty firms with national footprints and brand names that continue to gain share-of-mind with consumers. The impact of this group’s size and strength is among the 50 trends we call to your attention this month.

Qualified Remodeler—with the feedback of many readers, consultants and industry observers—created this list of trends to let you know this media brand is marking the start of its 50th year serving remodelers and home improvement pros by offering a broad perspective on the opportunities and challenges that lie ahead. Our team of editors is gearing up to serve this industry for the next 50 years and beyond. QR

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