How Big Is the Restoration Industry?
Owning a franchise in the restoration industry is your chance to meet an enormous, growing need
Unless you haven’t turned on the news recently, you know we’re living in an era where weather related disasters occur frequently – and in every part of the country.
The United States has a diverse landscape, from mountains to deserts to plains to lush forests. In recent years, almost every area of the country has been impacted by a natural disaster or severe weather. From the wildfires in California, the droughts in Texas, the hurricanes that hit coastal towns with alarming severity – and these issues are only going to get worse.
NASA reports that the impacts of Climate Change have yet to reach their peak: “The potential future effects of global climate change include more frequent wildfires, longer periods of drought in some regions and an increase in the number, duration and intensity of tropical storms,” NASA reports in an article entitled, “The Effects of Climate Change.”
In fact, property damage caused by weather related disasters has steadily increased for several years. Harvard University’s Joint Center for Housing Studies found homeowners spent an estimated $14 billion in 2017 alone for disaster-related renovations, a 23 percent increase from the $11.4 billion spent in 2015.
That’s why the restoration industry is worth an estimated $210 billion, and is why entrepreneurs are investing in the restoration industry in large numbers.
The need is overwhelming
Consider these facts:
- 2019 CoreLogic Wildfire Risk Report revealed that 8.7 million acres burned in wildfires in 2018. This area is equal to the area of 74 of the 75 largest cities in the United States.
- CoreLogic reports that more than 170,000 homes in Napa and Santa Rosa alone were at risk of wildfire, estimating it could cost $5 billion to rebuild the region should fire strike.
Hurricanes and tropical storms:
- The Center for Climate and Energy Solutions reports that Eight of the 10 most expensive hurricanes on record in the United States have occurred since 2004.
- Hurricane Katrina in 2005 caused $125 billion in damage, and Hurricane Sandy in 2012 caused $65 billion in damage. In 2019, Hurricane Barry caused $600 billion worth of property damage.
Water damage is always unexpected:
The most common call that 1-800 WATER DAMAGE franchise owners respond to are from homeowners who have an unexpected crisis occurs from within their homes. Burst pipes, basement floods, and mold growth from extended exposure to moisture are much more common than you might realize. As an example, Marketwired reports that 14,000 people experience water damage every day, costing homeowners more than $10 billion every year to remediate and restore mold and water damage.
Homeowners need a trusted company to turn to when disaster strikes
While the facts listed above may seem alarming – and they are – it’s important to remember that when a natural disaster occurs, property owners need a brand they can turn to help them put their lives back together again.
1-800 WATER DAMAGE franchise owners offer residential and commercial customers top-quality property restoration services around the clock, 24/7. As a leader in property restoration and carpet cleaning, 1-800 WATER DAMAGE stands out thanks to our people. Our water damage recovery teams are the most dedicated and hardworking franchisees in the industry, and with unmatched corporate support and commitment, our franchise owners are able to make a real, lasting difference in their communities every day.
“The need for our services becomes immediately apparent once you open for business,” says Tim Fagan, Brand President of 1-800 WATER DAMAGE. “If you’re looking for a business that lets you work hands-on, become a leader, build relationships and truly help people during some of the worst times in their lives, this is the business for you. It’s recession-resistant – I’ve made it through several recessions in this business because it’s not a want for a homeowner, it’s a need. It’s a good business for when times are good, and it’s a good business for when times are bad.”
Ready to join the restoration industry and bring 1-800 WATER DAMAGE to your community?
If you’re ready to join the restoration industry and bring a franchise to your community, simply fill out a form on this site and begin a conversation. We can’t wait to learn more about you!