Professional builders can make more of staircase renovations and increase their cash profits by up to 200%, by encouraging homeowners to trade up, says balustrade expert Richard Burbidge.
With more homeowners choosing to improve not move, the opportunities within the home improvement market are increasing. Plus, many homeowners are seeing these projects as long term investments, rather than quick-fixes to improve the saleability of the house, and are willing to spend more to achieve the look they want.
Stair Balustrade Product Manager Zoe Goff explains: Despite a reduction in consumer spending, homeowners are still willing to pay for quality home improvements, especially as houses are being viewed less as quick-win investments and more as long-term homes. We receive more enquiries from our online STAIRPLANNER service about mid- to high-end systems, yet many building professionals are not aware of the benefits of purchasing more expensive ranges and encouraging potential customers to upgrade.
Trade professionals can double or even triple their cash profit and gain up to 40% return on investment by simply installing hemlock instead of pine. The most profitable system is white oak where installers can expect around a 200% increase in cash profit if they install it in place of hemlock. For more mid-range installations then the simple switch from white primed to the popular FUSION® range can double cash margins.
Upselling is not as daunting as it may appear. Attractive consumer literature cannot only help to sell the transformational effect of new balustrade, but it can also demonstrate the aesthetic benefits of upgrading to higher value systems. Product samples can have a similar effect. By providing homeowners with something they can see and touch, it can encourage them to buy and trade up, which is better for margins.
Richard Burbidge supplies a market-leading range of stair balustrade in a choice of timber and metal designs to suit traditional and contemporary home interiors. For further information on the full range of balustrade systems available, please log onto the Richard Burbidge website, where you can also access the STAIRPLANNER service.