Home Plumbing Contractor Free Plumbing and Heating Contractor Business Plan 4.6 Target Market Owner Occupied Units Analysis
The owner occupied housing analysis for homes in the target market of Mecklenburg County and the State of North Carolina shows some very interesting results. Of all the owner occupied housing units in Mecklenburg County, 55% have a market value of less than $200,000. On the other hand this number for the entire state of North Carolina stands at 61% indicating that the state has a more economically depressed housing market as compared to the county.
This analysis can also be confirmed when we look again at owned occupied housing valued at more than $500k. We find that only 5% of the all the homes in the state of North Carolina are worth more than $500, as compared to 9.3% in Mecklenburg County.
There is no doubt that both Felix and Michael will focus on targeting the larger more expensive homes for the very lucrative remodeling business. The margins on kitchen and bathroom remodeling can be very high as compared to the traditional repair business that deals with replacing and repairing faucets and showerheads and cleaning out drains etc. The excellent background that Michael has in the new home construction business should also be very beneficial to Central Plumbing and Heating, given that a fair amount of the housing stock is on the higher end and home builders tend to like to work with the same general contractors and plumbers.
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