You’re eager to start a business that truly helps others. The home services industry provides plenty of opportunities, but it can be difficult to know which path is right for you. Fortunately, water restoration businesses – part of the growing restoration services market – are in high demand. Research predicts the global disaster restoration industry will see a compound annual growth rate (CAGR) of 5.7%, resulting in a market value of $75.8 billion by 2034.
But why else should you consider a flood restoration business? Learn the top reasons to make the investment.
6 Reasons to Start a Water Restoration Business
A water and flood restoration business offers ample opportunities to aspiring entrepreneurs. Here’s why you should consider investing in water restoration services:
- Growing demand: Fueled by the increasing frequency of natural disasters, the demand for restoration services is on the rise. Additionally, the country’s aging infrastructure is creating more frequent water-related issues, ensuring a strong need for these essential businesses.
- Recession-resistant industry: Regardless of the economic climate, these services are always in demand. As long as homes and businesses need protection and repairs from water damage, the sector remains resilient and reliable, even during economic downturns.
- High profit potential: With specialized projects, such as water extraction, drying, and mold remediation, business owners can charge competitive rates, leading to strong profit margins. Additionally, many restoration companies develop relationships with insurance companies, which can ensure a consistent flow of work and a solid revenue stream.
- Scalable business: A water restoration business can grow and expand through opening more locations or offering different services over time. Additional services may include fire damage restoration, mold remediation, or even full construction and reconstruction.
- Low barrier to entry: Starting this type of business is typically more affordable than other ventures. The low barrier to entry makes a water restoration business a more accessible option for those looking to transition into a new industry, even without extensive capital.
- Help your community: Providing restoration services gives you the opportunity to make a real impact in your community. When disaster strikes, homeowners and businesses rely on these services to help them recover and rebuild. As a business owner in this industry, you’ll be providing an essential service, restoring safety and stability to people’s lives after an emergency.
Why Franchise with Lightspeed Restoration?
Lightspeed Restoration, backed by Home Franchise Concepts, is a leading restoration franchise opportunity. Learn what really sets our brand apart from the industry:
- Proven business model: Lightspeed Restoration offers franchisees an established business blueprint along with an in-house national call center at no cost to the franchisee, training on the ins and outs of working with insurance carriers, equipment rental programs, and loans to keep franchise owners cash flow going during catastrophic events.
- Top-notch training and support: At Lightspeed Restoration, our comprehensive training program goes beyond basic business operations. We built a state-of-the-art, IICRC-approved flood house at our Experience Cetner in Dallas where franchisees receive hands-on training. With our training and support, you'll be empowered to confidently handle any restoration project, from water and fire damage to mold remediation.
- Access to a recession-resistant market: Restoration companies clean, repair, and restore damaged homes and buildings after floods, burst pipes, mold, wildfires, home fires, and more. Natural disasters, aging infrastructure, and other environmental factors are all contributing to the growing demand for restoration services. Lightspeed Restoration positions franchisees to grow alongside this expanding, recession-resistant market.
- Low initial investment: Our franchise opportunity is affordable. Interested candidates should have a net worth of $300,000 and at least $120,000 in liquid assets to qualify. Our startup costs range from $154,230 to $252,500, which includes our $49,000 initial franchise fee. We also offer up to $35,200 in-house financing to qualified candidates.
Ready to get started? To learn more about our franchise opportunities, inquire now.