Ann Arbor-based Mr. Handyman rebuilds as housing market recovers

Related story: Housing starts up 46 percent in Washtenaw County last year

The economic recession had a devastating impact on Ann Arbor-based home repair and maintenance franchise Mr. Handyman.

At the companys peak, it had 315 franchises across the U.S. and Canada. More than 100 locations closed as economic conditions worsened and home repair sales dropped.

Essentially, we lost a third of our system over the 2009 to 2012 timeline, said company president Alex Roberts.

He added: There were certainly days over the past several years where there was a lot of doom and gloom.

But Roberts characterized 2013 as a year of growth for Mr. Handyman, a business that is directly reliant on consumer confidence in the housing market.

The business experienced a 14 percent system-wide sales increase last year, posting $6.5 million more in revenue compared to 2012. Forty-two percent of the companys franchisees noted 2013 was their best financial year.

As the housing market collapsed, homeowners lost confidence in the market, people were underwater on their homes and they were not willing to put money into improvements, Roberts said.

Now, as consumers are gaining confidence in the housing market, they see this as a time they can invest in their own homes. I think bathroom remodeling is the biggest thing were seeing across the country where people are investing their dollars.

Home improvement spending is up nationwide; the Leading Indicator of Remodeling Activity predicts double-digit gains in annual home improvement spending for the first half of the year, which should moderate to just under 10 percent by the third quarter.

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Ann Arbor-based Mr. Handyman rebuilds as housing market recovers