You never know when disaster will strike. Every time you turn on the news, there are reports about weather events in different areas of the country. Thunderstorms, tornadoes, hurricanes, floods, or forest fires have the potential to cause property damage to homes and businesses. When the storm subsides and the damage is assessed, folks need someone to help pick up the pieces.
A Booming Industry
Being part of a restoration business helps those in need during a troubling time. The service provided is both essential and lucrative. IBISWorld reports that damage restoration is a $4 billion industry in the U.S., with anticipated burgeoning growth due to climate change issues, a growing population and expanding infrastructures. Determining the profitability of a restoration business you may open is dependent on many variables including services provided, labor costs in your area, insurance payments, business contracts, equipment purchase, materials, licensing, and certification. These are just a few of the considerations you need to research further as you construct and expand your business.
Reconstruction is an Indispensable Business
As the industry grows, more entrepreneurs see the value of this investment. Legal analysts explain that restoration is considered an essential service because it is needed to help people and businesses recover from damage caused by natural disasters, accidents, and other emergencies. Restoration services are crucial in restoring homes, businesses, and communities to their pre-disaster condition, ensuring that people can return to their normal lives as quickly as possible.
When disasters strike, such as floods, fires, or storms, they can cause significant damage to properties, including structural damage, water damage, and mold growth. Without timely and effective restoration services, this damage can worsen and cause health and safety hazards for the people who live or work in the affected buildings.
A restoration business has specialized equipment and the expertise to assess the extent of the damage and develop a plan to repair and restore the property. This may involve water extraction, drying and dehumidification, smoke and odor removal, and structural repairs. Restoration companies also work with insurance companies to ensure that clients receive the compensation they’re entitled to.
Environmental Extremes Increasing Demand
Those in the restoration industry are staying busy. Property damage caused by weather is increasing due to climate change. The Environmental Defense Fund links global warming to changing weather patterns, which, in turn, is intensifying the severity of weather events. Scientists have discovered that the impact of these storms is more powerful even though the frequency hasn’t been affected. For example, the number of hurricanes per season may not necessarily be increasing, but due to global warming, sea levels have risen, creating a bigger storm surge and more flooding when a hurricane does occur. The U.S. Environmental Protection Agency concurs. Their findings link global warming, climate change and more intense storms to increased property damage.
Business Climate
Whether helping residents or business owners with damage caused by wind, rain, floods or fire, if you are interested in helping those in your community effected by destruction and loss, consider the advantages of owning a restoration franchise compared with starting a business from scratch.
As a franchise owner with ServiceMaster Restore, you benefit from being part of an established business with brand recognition due to our high standards and solid reputation that we’ve built after 65 years in business. We’ve earned the trust of customers, which will aid you in building a customer base in your community. Our proven business model means you don’t have the stress of getting your business off the ground — we’ve done that for you. Whether you’re a seasoned business owner or new to entrepreneurship, you gain expertise in the restoration industry through comprehensive training. We make sure you can assist customers when they’re seeking a mold remediation franchise to help them with water- or other weather-related damage.
As a ServiceMaster Restore franchisee, you serve businesses or residential companies in crisis due to unforeseen damages and help get their lives back to normal through restoration services.
We’d like to tell you more about the services we provide to customers as well as franchise owners. Contact us and let’s get started.