The Growth of the Restoration Industry February 22, 2018 – Posted in: Blog, Industrial – Tags: Fire Damage Restoration, Water Damage Restoration
If you are looking for a growth industry to get into, the restoration business should be at or near the top of your list. Today, the restoration industry as a whole is worth about $210 billion, and this figure is expected to grow even more in the coming years. This is because of several factors, including the increasing intensity of natural disasters, aging homes and infrastructure in the United States, as well as commonly occurring wildfires and flooding.
Here is a look at industry trends and issues as restoration business industry growth continues.
New Technologies Driving Demand
Aside from natural disasters, one of the leading drivers of demand is the presence of mold in homes. Why is mold so much more of an issue today than in years past? First, new and energy-efficient homes are more likely to experience mold because of the way they restrict airflow. Second, we are more aware of mold in homes today than in years past.
New technologies have made it far easier for even homeowners and professionals to detect mold in homes and commercial properties. Therefore, they are going to create a greater demand for the services of mold abatement and restoration professionals.
Natural Disasters Creating Need
Natural disasters are also driving demand for fire and water damage restoration professionals. The Environmental Protection Agency reported in 2016 that severe storms led to about $6 billion in property damage.
That is a huge and almost unfathomable figure, but it is one that has been relatively stable since 2008. In short, it appears that this uptick in the occurrence of natural disasters is real and sustained, leading to huge restoration business industry growth.
Restoration Industry Trends Since Hurricane Katrina
Many restoration professionals will say that Hurricane Katrina marked a significant shift in restoration industry trends when it hit New Orleans in 2005. Before that time, the restoration industry operated with few standards, and there were few proven practices when it came to billing, paperwork and navigating the regulatory environment.
Today, that has all changed. As natural disasters like wildfires, hurricanes and flooding have swept across the country, the demand for restoration professionals has grown significantly. The standards with which restoration professionals work and the proven practices they use have improved, too. The industry as a whole is better organized and better ready to respond in the aftermath of a natural disaster.
The environments in which they work are far safer for team members as well, thanks to an increase in standards and best practices.
Where to Find Restoration Training
Today, there is more and more training available to restoration professionals. This means disaster restoration industry trends include better work and more prepared professionals.
The Institute of Inspection Cleaning and Restoration Certification (IICRC) and similar organizations provide opportunities for all to learn about the work of restoration professionals and to gain the knowledge needed to best serve customers and to deliver outstanding results.
What About Equipment?
A good thing for both restoration professionals and the clients they serve is the improved equipment available. Today, when a restoration professional looks for air movers, dehumidifiers, air scrubbers and other tools, they will find equipment that is more effective, more durable and more affordable.
Restoration professionals can also often buy equipment in bulk that allows them access to effective restoration tools at a price that delivers great value. Then, these tools are what allow for the full restoration of affected properties.
Outlook for the Future
Many attribute the increase in natural disasters to climate change, which would suggest that the need for restoration professionals will only continue to grow in the near future. No matter the cause of natural disasters, though, there will always be a need for highly qualified and hard-working restoration professionals.
If you are interested in the industry or are currently operating in the industry, make sure you are getting the right training, securing the right tools and are fully prepared to respond in the case of a natural disaster. There is a huge opportunity as restoration industry trends indicate more growth, but you can only help clients if you are prepared in every way.