What is the Size of the Disaster Restoration Industry?
The construction industry has credited their booming growth over the last two years to the natural disasters that have resulted in an increase in work. 2017 saw major catastrophes such as Hurricanes Harvey and Irma, tornados, wildfires, and flooding. 2018 saw California’s deadliest wildfire, as well as terrible hurricanes and winter storms. In just the first half of 2018, a total $6 billion in damages was recorded.
A study of the disaster restoration industry saw contractors report positively on the state and future of the industry. The revenues of roughly 66% of contractors were up, and they indicated that they expected this to continue. 32% expected consistent revenue and only two percent indicated they expected a decrease in revenue.
According to Mark Maier, Paradigm Labs vice president of marketing and sales for the Enviroguard Division, “Traditionally, the R&R industry has focused on curative services alone. By that, I mean when there’s a problem, our industry provides the solution. With that view, it’s easy to understand why most customers are considered once and done opportunities. The truth is that structures have consistent problems and 60 percent of all structures right now have some sort of moisture issue.”
Maier goes on to explain that there is a trend for restoration companies to educate their customers, and to provide more than just emergency restoration, but also moisture control solutions.
There is also a drive towards adopting new technologies and software in order to cope with the workload. Contractors have more access than ever before to management software solutions, as well as to other technological tools.
According to Kris Rzesnoski, VP of business development at Encircle, “Adopting new technology is the driving force behind how the restoration industry will work collaboratively and effectively with other industries to achieve common goals. We have to face that our industry is changing for the better.”
If you do experience water, fire or smoke damage, remember that the professionals of SunGlo Disaster Restoration Specialists are here to help with your clean-up and restoration.