In general, it appears remodelers are a bit optimistic when making revenue projections. We looked at the last nine years of data from the Remodeling 550, and analyzed projected revenues versus actual revenues for each year.
Revenues over the past decade have been growing steadily, but not exactly by leaps and bounds. This data shows the top 300 full service firms have been anticipating a breakout year since 2011. And while 14% and 16% growth ('14 and '15, respectively) are nothing to scoff at, it's not exactly what people were hoping for.
Besides 2012, Remodels overshot projections by 15%, 23%, 35%, and 12% in this time period from 2011 to 2015.
The good news is that estimations are getting better. The last two years have seen accurate projections, only missing by 1% and 3%.
The top 300 firms project revenue will be $1.8 billion, which would represent 13% growth.
We will release the 2018 Remodeling 550 list on May 23. On that day, visit remodeling.hw.net/benchmarks/remodeling-550 to see the list and find out where your company ranks.
