“After 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,” REMODELING Editor-in-Chief Craig Webb says.
Washington, D.C. (PRWEB) May 16, 2017
Hanley Wood, the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries, announces the release of the 2017 Remodeling 550 List. This list published by Hanley Wood’s REMODELING, is an annual ranking of the biggest full-service remodeling and replacement contractor firms, as well as the leading insurance restoration and franchise operations.
“After 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,” REMODELING Editor-in-Chief Craig Webb says. “This expected 2017 showing follows a year that saw both full-service and replacement contractor firms grow.”
The top 300 full-service firms on REMODELING’s 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 (JCHS) 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 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.
REMODELING’s 550 List can be found online at remodeling.hw.net/550. There you can sort and filter the data, which includes information on the company’s location, 2016 revenues, number of projects, and average job size. The website also includes numerous charts and profiles that illuminate details regarding the group.
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.
REMODELING, published by Hanley Wood, is the leading publication in the home improvement industry. REMODELING has been and continues to be the indispensable tool that remodelers cannot do without—delivering the business know-how, product and technical information that home improvement pros need to help make smart decisions that will shape their project success.
About Hanley Wood
Hanley Wood is the premier company serving the information, media, and marketing needs of the residential, commercial design and construction industry. Utilizing the largest analytics and editorially driven Construction Industry Database, the company provides business intelligence and data-driven services. The company produces award-winning media, high-profile executive events, and strategic marketing solutions. To learn more, visit hanleywood.com.