When you hear the term “home services,” it probably conjures up images of anything from carpenters and plumbers to housekeepers and landscapers — and everything in between. The home services industry encompasses a wide range of businesses and professionals who offer various services to homeowners within the comfort of their own residences. This industry is dedicated to fulfilling the needs and desires of people who need help with tasks and maintenance related to their homes.
Here are some of the most popular businesses in the home services market.
- Home maintenance and repair: This category includes professionals who specialize in tasks such as plumbing, electrical work, HVAC (heating, ventilation, and air conditioning) repairs, painting, carpentry, and general maintenance. These experts ensure that homes remain functional, safe, and aesthetically pleasing.
- Cleaning and housekeeping: Home cleaning services involve professionals who provide thorough and regular cleaning of households, including tasks like dusting, vacuuming, mopping, and sanitizing. Housekeeping services may extend to additional responsibilities such as laundry, organizing, and general tidying.
- Gardening and landscaping: Experts in gardening and landscaping cater to homeowners who desire well-maintained outdoor spaces. These services can include lawn care, planting and pruning, hardscaping, irrigation system installation, and overall landscape design to enhance the beauty and functionality of the property.
- Home renovation, restoration and remodeling: This sector encompasses professionals who specialize in transforming and upgrading homes or making necessary repairs after severe damage or destruction. Services may include kitchen and bathroom remodeling, basement finishing, flooring installation, home additions, and other renovation projects to enhance safety, comfort, functionality, restore livability and create aesthetic appeal.
- Home security and automation: With the advancement of technology, home services now include experts in home security systems, smart home automation, and surveillance installations. These professionals help homeowners safeguard their properties, manage energy usage, and create a more convenient and secure living environment.
The Size of the Industry
The home services industry continues to adapt to meet the needs and demands of homeowners, providing a valuable and essential service with new innovations.
Which is why this burgeoning industry has some impressive numbers. Verified Market Research reports it was valued at $105.55 billion in 2018 in the U.S. and is projected to reach $1219.07 billion by 2026, growing at a CAGR (compound annual growth rate) of 35.81%.
Future Trends in the Home Services Industry
Savvy investors and entrepreneurs who want to capitalize on the growth of the industry should look at businesses that are thriving in this sector. Here’s a glance at some of the latest trends:
- Smart home technology. Innovations are coming at such a rapid pace that it’s challenging to keep up with the rate of growth. This segment includes home automation and security systems as well as home entertainment.
- Green businesses. Think: Enterprises that work to reduce the carbon footprint through practices like renewable energy solutions. This market includes concepts like the addition of residential solar panels and upgrading homes to energy efficient appliances, HVAC systems, windows and insulation.
- Home repair. Those with the skills and expertise to provide restoration or remodeling are fulfilling a vital service. When it comes to restoration, this is an essential service needed in the community to assist homeowners after damage or destruction of property.
Restoration is Essential
When natural disasters like floods, fires, storms, or earthquakes strike, the restoration industry is crucial in mitigating the damage caused. Restoration professionals respond quickly to assess the situation, stabilize the property, and initiate the restoration process. Their expertise helps in salvaging and restoring structures, minimizing further damage, and enabling individuals and communities to recover and rebuild.
What many may not realize is that this is not just restoration of a structure. When there’s water or smoke damage or the emergence of mold or hazardous substances like asbestos or chemicals — restoration becomes a health and safety issue. Employing specialized techniques to handle these materials and remove contaminants and odors requires following appropriate protocols by well-trained technicians.
The training includes guiding homeowners through a crisis that they’ve probably never encountered before. That means navigating them through the insurance claims and providing the support they need during a challenging time.
The ServiceMaster Restore Difference
ServiceMaster Restore has set the industry standards in the $4 billion restoration industry, with more than 65 years of experience. When you become a franchise owner with us, you’re well-equipped to take on the exciting challenge of ownership and serving your community when disaster strikes. Our comprehensive training includes necessary certification and the ongoing support we give you helps you meet whatever challenges you may face as a franchise owner.
If you’re ready to get started in a rewarding career, as a vital member of your community fulfilling an essential service when it’s needed most, fill out our form and we’ll be in touch.