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Question 4 - (16 marks) Case Analysis Home Renovation Warehouse In the Greater Toronto Area (GTA) home renovation spending is expected to rise due to affordability issue related to purchasing a larger home. A study by CIBC reported in the Financial Post (http://business.financialpost.com/personal- finance/mortgages-real-estate/renovation-spending-expected-to-rise-in-2016-as- people-just-cant-afford-to-move) shows the following information on home renovations in Canada: RENOVATION BOOM PUTS DOWN ROOTS Home Renovation Warehouse is Percentage of Canadian homeowners who plan to renovate in the next 12 months: 40% expanding due to the trend in home 2015 2016 37% renovation spending hoping to Of the Canadian homeowners who plan to renovate: Amount they plan to spend: (average amount and dollar range) capture the trend and move their Don't know: $1 to $4,999: Don't know: $1 to $4,999: 21% 23% 19%% 27% company from a privately held $25,000 $25,000 company, owned by Stephan and or more: 2015 2016 9% Average amount: or more: 10% Average amount: $12,293 $13,017 Sylvie Gregoire, to a larger publically $5,000 traded company. The currently have $15,000 to $5.000 to $9,999: $15,000 to $24,999: 11% 20% $24,999: 9% to $9,999: 20% 35 locations spread across Canada $10.000 to $14,999: 16% $10,000 to $14,999: 15% but they have plans to expand into Of the Canadian homeowners who plan to renovate: Top five planned home renovations: the US market as well as expand 2015 2016 Basic maintenance* 55% 5.4% their presence across Canada