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Research Outline
Prepared for Mike M. | Delivered September 3, 2019
Commercial Disaster Restoration Industry SWOT
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Goals
To understand the strengths, weaknesses, opportunities and threats for the commercial disaster restoration industry.
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Early Findings
Strengths
The
2018 State of the Restoration Industr
y reports that revenues are generally up, mostly due to the increase in large-scale disasters.
Companies are successfully
expanding
their services from just curative to preventative, such as moisture control systems. This expansion relies on customer education.
Weaknesses
A reported top challenge to this industry is finding and keeping
skilled workers
. This also means companies are needed to spend more on worker pay and benefits. Similarly,
employee burnout
during peak seasons can be a significant issue.
Only around
25%
of work completed in the restoration industry is commercial, whereas 65% is residential. This means companies focusing solely on commercial properties are at a disadvantage.
Furthermore, private jobs tend to be completed
twice as fast
as TPA work, which could be a weakness if a company focuses too much on TPA jobs.
Opportunities
The "
steady emergenc
e of medical data", mostly due to information accessibility, is leading companies to understand indoor air quality is related to health and be more likely to purchase preventative systems or schedule regular maintenance.
Another expanding segment is
drug residue removal
.
There is a
need
for companies in this industry to keep up with technology, such as innovative software that help in the disaster restoration process and the use of physical tech like
drones
.
The top
trends
in the industry continue to be related to water/moisture and mold.
Threats
Another reported top challenge to this industry is finding and keeping
skilled workers
. This also means companies are needed to spend more on worker pay and benefits. Similarly,
employee burnout
during peak seasons can be a significant issue.
Clients are
demanding
the industry adapt to using less toxic chemicals in the restoration process.
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