Rarely have we seen remodelers enter a spring with so much, well, spring: Following a year of strong revenue growth, this year’s Remodeling 550 looks in good shape to hit its collective target of 12% growth and $5.17 billion in total revenue.
The top 300 full-service firms on our list reported 6.7% more revenue in 2016 than last year’s top 300 did in 2015. Meanwhile, the top 150 replacement contractor companies saw a 16.1% increase in home improvement revenue in 2016 compared to what their peers did the previous year.
Those are notable achievements considering how hard it is to succeed as a residential remodeler. The Joint Center for Housing Studies of Harvard University estimates that about one-fifth of the roughly 87,000 general remodeling businesses with payrolls drops from that status every year, either by shrinking to just one worker or by going out of business entirely. Roughly seven out of eight never even reach the point where they take in $1 million in revenue per year, JCHS says. In contrast, the average revenue for the top 300 full-service firms on this year’s list is $5.1 million, and for replacement contractor / home improvement businesses it was $18.3 million.
We have all 550 firms in lists that can easily be sorted in numerous ways once you register to access the right pages. When you arrive, you'll find information on the company’s location, 2016 revenues, number of projects, and average job size. And related features will include charts, tables, and features on some of the participants.
The bulk of the information in the REMODELING 550 comes from the companies themselves based on their responses to an online survey. Additional information came via email, phone calls, and public sources. Questions? Comments? Want to be considered for the list next year? Contact me at [email protected] or via 202-736-3307.