Growth Knows No Bounds In The Outdoor Lighting Business
The landscape and architectural lighting category is in hyper-growth mode. Ever since the U.S. economy’s rebound, the demand for outdoor lighting has increased significantly.
Why? For starters, more homeowners are investing in their properties and adding on to their homes through the addition of multi-functional outdoor living spaces –and they want to enjoy these spaces long into the evening. Outdoor kitchens, decks, patios and pools provide opportunities for many applications in outdoor lighting.
The emergence of LED lighting has provided another opportunity for the outdoor lighting industry. There are countless outdoor lighting systems installed throughout North America. A majority of these systems still have the traditional halogen bulbs as the light source.
Providing LED retrofits to these homeowners allows for over 50 percent savings in energy. As an added bonus, the technology is designed to last 40,000 to 50,000 hours. These advancements equate to a significant growth opportunity for outdoor lighting franchises.
Another indication of strong growth lies in the architectural industry. In 2014, the American Society of Landscape Architects (ASLA) surveyed nearly 3,400 landscape architecture firms on how they specify and purchase lighting for their projects. The top three projects for which they specify lighting include (in order by volume):
3. Water Amenities/Pools/Fountains
So, what does this all mean? Let’s play it by the numbers. 94 percent of landscape architecture firms specify or purchase lighting products for their projects and 51 percent of landscape architecture firms report that their average total project budget (design, materials, and construction) is valued between $100,000 and $1 million. 16 percent of firms value their average project at over $1 million.
Bottom line? If you are seriously considering a new franchise opportunity in outdoor lighting, the time is now.
- See more at: http://outdoorlightingperspectives.1851franchise.com/details/2160/Growth-Knows-No-Bounds-in-the-Outdoor-Lighting-Business#sthash.YfX9q2XT.dpuf