How Big is the Demand for Maintenance-Free Communities?
Epcon Franchising is part of an industry that has seen 5.3 million new homes
Consumer demand remains high for home building franchises as The Wall Street Journal reported that 2014 saw the completion of 5.3 million new homes.
Epcon Communities Franchising Inc. is one of America’s largest homebuilders (“2013 Builder 100,” Builder Magazine, May 2014), and one of the only home building franchise companies that exists. Epcon and its Franchise Builders develop communities of ranch-style, maintenance-free homes popular with 55+ buyers — a demographic that is projected to drive new home sales in the United States for many years to come.
“There is massive demand for ranch-style, maintenance-free housing, and not nearly enough builders focusing on the needs and desires of 55+ buyers,” says CEO and Director Ed Bacome. “This mismatch between supply and demand creates a huge opportunity for Epcon Franchise Builders.”
There are 76 million Baby Boomers, according to the U.S. Census Bureau. Many plan to buy new homes for retirement that are smaller but offer a lot of amenities that they will finally have time to enjoy. Epcon is perfectly positioned to capture these buyers. Since our founding in 1986, we have considered the needs of a neglected customer segment — mature home buyers.
Today’s 55+ homebuyers represent a special opportunity. There are millions of them. They are wealthier than other generations and they have better credit and more equity in their existing homes. That puts them in the best position to buy, which is why Metrostudy (a division of Hanley Wood) projects that Baby Boomer buyers will purchase 52 percent of the new homes sold between now and 2019.
Major home builders are beginning to develop products that will appeal to older buyers with empty nests and eager for an active lifestyle. But Epcon franchise communities’ homes have been popular with 55+ homebuyers for nearly three decades — a major advantage for our Franchise Builders.
The market is just now trying to catch up to the vision that Epcon co-founders Ed Bacome and Phil Fankhauser first realized in 1986 when they developed the first Epcon community in Columbus, Ohio. We have developed outstanding floor plans and community amenities and created systems that help Franchise Builders build our established product very quickly. Today, Franchise Builders have an opportunity to claim market share very quickly — to own that market before the competition can catch up.
“We’ve had steady interest since we opened our doors,” said Steve Delin, a Franchise Builder in Keller, Texas. “Epcon offers a niche in the market that, so far, no one is touching.”