Why You Should Purchase a Franchise in the Restoration Industry
Restoration services help combat the aftermath of disasters, such as floods and fire. Homes exposed to water damage, mold, mildew, and fire require a professional touch. From eliminating the smell of smoke to properly eradicating microbial growths, there’s a great deal for a skilled professional to do in these situations. Franchise owners in the restoration industry can benefit from the growing demand for this type of service.
Increasing Demand for Restoration Services
The damage restoration services industry has seen increased annualized revenue of 0.5% between 2016 and 2021 to a total of $4 billion. The demand for these services is only expected to grow in the coming years. There are many possible reasons for this increase in demand, including:
- A growing number of billion-dollar disasters. Between 1980 and 2018, the country averaged just 6.2 such events each year. Between 2016 and 2018, this average increased to 15 a year.
- Higher health and safety standards as a result of COVID-19.
- More tightly sealed energy-efficient homes where lack of airflow can lead to microbial growth, particularly in harsh winters.
- A surge in home improvements driven by the growing number of people staying in and working from home.
These events and others have created a notable demand for home restoration solutions that industrious franchisees can capitalize on as they assist their communities.
Greater Organization in the Restoration Industry
The home restoration industry saw some major changes in the wake of Hurricane Katrina. Those attempting home restoration fraud made their way into the limelight, and new regulations went into place to help homeowners secure more reliable services and solutions in the wake of a disaster. Organizations like the Institute of Inspection Cleaning and Restoration Certification have developed a wealth of resources to help business owners better serve their customers in the critical area of home restoration.
This means that franchise owners in this business have more educational tools at their fingertips than ever before. These same tools and resources make it easier to train employees who are new to the industry as well. This is especially important, as securing and retaining employees is one of the top challenges faced by restoration businesses.
Enhanced Restoration Technologies
The tools and technologies used for home restoration are evolving just as the industry is. Project management technology offers a wealth of benefits to franchise owners. They simplify the process of coordinating multiple jobs and maximizing efficiency and profitability.
It’s easier than ever to measure humidity, temperature, and moisture using compact sensors. These sensors can transmit data off-site so businesses can evaluate the information and remotely control dehumidifiers and other equipment that’s left in place for days at a time. The latest air scrubbers with HEPA technology can trap particles as small as 0.3 microns to remove allergens, irritants, and other hazards from the air.
Those interested in investing in a new franchise may find that the restoration industry is the perfect investment. As the desire for effective and efficient restoration solutions grows, so will the opportunities in this field.