Largest, richest U.S. generation more likely to hire out painting

Sociologists have compared the Baby Boomer generation to a pig moving through a python. They represent a humongous population born between 1945-1964.
Why should a painting franchise care?

Because this 76 million-plus demographic will help grow a painting business. Baby Boomers are the wealthiest generation in the U.S, with an annual spending power of more than $2 trillion. The vast majority of them want to “age in place” in their homes. And those homes —  many of which are older houses and condos —  need updating, renovation and interior and exterior painting.

According to the Mature Market Institute, nearly two-thirds of Baby Boomers (63 percent) plan to stay in their current home as long as they can. That number rises to 78 percent for those aged 75 and older. Not only are they staying put, they are not interested in painting rooms themselves like younger couples.

In a report by the Natural Marketing Institute, Managing Partner Steve French says Baby Boomers are “responsive to companies that can deliver pragmatic value and style” and those that are rooted in “sensible luxury.”

Here’s more about Baby Boomers from the Natural Marketing Institute:

* Boomers show strong brand loyalty to products and services they use.
* Proof of a product’s quality increases their likelihood to purchase it.
* They prefer advertisements that capture the flavor of their generation and understand their uniqueness.
* They prefer to purchase from socially and environmentally responsible companies.
* They are influencers, often telling family and friends about new products.
* They prefer to find out about products on their own compared to traditional advertising, highlighting the importance of viral marketing.

All of this is great news for Five Star Painting and its franchisees. They account for well over 50 percent of our customers and individual ticket prices are larger.  As this enormous generation ages, their demand for painting is expected to sharply increase, especially in the next 10 to 15 years.

Interested in how you could open a business designed to cater to this need? Start a conversation with us about opening a Five Star Painting franchise in your area by filling out our simple request information form.