Flooring Industry Secrets for Growth & Success

Flooring is a major element of the home improvement industry, as the variety of flooring needs across growing residential and commercial sectors lends itself to a profitable business opportunity. Customers have many options when it comes to choosing flooring, and a commitment to their experience is the secret to building a sustainable business.

The growth project for the flooring sector

The flooring industry is expected to grow over 6.3% CAGR from 2021 to 2027 due to significant growth in the construction industry. A growing population is triggering not only residential flooring needs, but also a rise in new commercial construction projects.

How people buy: What you need to know

While many people turn to online channels for purchases, brick-and-mortar stores are staying steady in their value to consumers. The main reasons people are buying in-store is because they want to see the product before purchasing, and they enjoy the in-store shopping experience.

A study by PWC outlines the importance of the customer experience and getting it right. Here are some interesting facts to consider:

• 16% of consumers will pay a price premium on products and services in return for great service
• 32% of customers will walk away from a brand after one bad experience
• Speed, convenience, helpful employees, and friendly service scored over 70% in importance to consumers
• 82% of consumers want more human interaction

Growing your business with technology

Technology can help create a great customer experience when it prioritizes value to the customer. When technology contributes to core demands of speed, convenience, friendliness, and knowledge, it can enhance the customer’s interaction with your business. Technology can enable good experiences, but it must be integrated into the whole business.
While customers accept increased automation and engage with apps and self-service checkouts, the minute something goes wrong, they want to speak to a person. When queried how valuable a company’s employees were for their overall experience, 71% of consumers said the impact was significant. You need great technology, but you also need great people.

Building a customer experience

Starting a business in the flooring industry today requires quality product lines, a good pricing structure, and a commitment to a customer experience strategy. Consumers have many options when it comes to making home improvement choices; 79% would switch brands for a better price and 52% would switch for product quality. Aspects of a customer experience that drive people away include bad employee attitudes, unfriendly service, an untrusted company, unknowledgeable employees, and inefficiency.

If you are building a flooring business from scratch, you have your work cut out for you.

How ProSource Wholesale could be your best entrepreneurial choice

ProSource Wholesale is North America’s largest home improvement franchise and flooring options are among our 50,000 products which include kitchen and bath options, all at wholesale prices. We focused on customer experience from day one with a business model targeting trade pros who have different expectations than the average DIY consumer. From showrooms to an online app, our focus is on making it easier for the trade pro to do business with us.

Our in-store experience

The showrooms highlight all top brands in an easy-to-navigate display. Trade pros can access the showroom 24-7 using a keypad lock, so they don’t have to worry about changing their schedule to accommodate retail store hours.

Impactful technology value

ProSource also prioritizes trade pros in technology. The Trade Pro App allows for tracking estimates and orders, making payments and communicating with the account manager. As trade pros provide the installation work, ProSource can focus on building a relationship with the trade pro customers, thereby enhancing their experience with the franchise.

The customer service factor

Finally, the ProSource model invests heavily in customer service. An account manager is available for appointments virtually or in the showroom. There is a free online account to manage and collaborate on projects and a free sample pick-up. Trade pro credit is available, as is consumer financing. All these benefits are in addition to wholesale pricing.

ProSource Wholesale is your entry into the flooring industry

The marketing plan of any business today involves creating a balance between being technologically proficient and still having the human touch. This is a difficult element for established and new businesses that are challenged to figure this out on their own.

When you become a ProSource Wholesale franchise owner, you benefit from a team of customer experience experts who do this work as part of their commitment to building a successful brand. Learn more about the benefits and $5.8 million average unit volume opportunity by joining the ProSource Wholesale team.