Water and fire damage can occur at any time, whether due to natural disasters or human error. The global restoration industry is valued at around $210 billion, with a rising demand for restoration services. In the United States, the disaster restoration sector is anticipated to reach $80 billion and is expected to grow by 6.8% annually until 2025. With the increasing prevalence of extreme weather events and natural disasters, this segment of the home services market is forecasted to experience continued growth.
Restoration companies specialize in cleaning, repairing, and restoring homes and buildings damaged by various incidents such as floods, burst pipes, mold, wildfires, and home fires. American Veterans Restoration caters to both residential and commercial properties, with residential homes constituting the majority of its business, making the home services industry a robust investment. Among restoration services, water damage restoration proves to be the most profitable, followed by mold and fire damage.
On average, the cost of home water damage restoration incidents amounts to nearly $12,000. Each day, approximately 14,000 homeowners and business owners contend with water damage issues. A staggering 98% of basements in the United States are susceptible to water damage. Moreover, nearly half of all home insurance claims stem from water or fire damage. Restoration companies acquire business through customer referrals, collaborations with insurance companies, and leveraging social media platforms.
Responding to water or fire emergencies entails a range of crucial tasks, including:
1. Handling standing water and sewage cleanup
2. Conducting water removal procedures
3. Implementing mold removal protocols
4. Performing carpet drying or removal
5. Undertaking fire and smoke damage cleanup
6. Managing debris removal, including trash, furniture, belongings, and damaged materials
7. Addressing storm and natural disaster cleanup requirements
8. Conducting cleanup and sanitization procedures
Water or fire emergencies can inflict significant damage and stress, with no time to spare, as excess moisture can wreak havoc on walls, flooring, and furnishings. If left unattended, fire damage can lead to safety hazards and air quality issues. Property owners rely on responsive, highly-trained restoration experts to swiftly restore normalcy and mitigate the impact of such emergencies.
Interested in owning a slice of the multi-billion-dollar restoration industry? Don’t hesitate to reach out and connect with one of our franchise advisors today to explore the opportunity of owning an American Veterans Restoration franchise.
