Commercial Disaster Restoration Industry SWOT
To understand the strengths, weaknesses, opportunities and threats for the commercial disaster restoration industry.
- The 2018 State of the Restoration Industry 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.
WeaknessesA 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.
OpportunitiesThe "steady emergence 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.
ThreatsAnother 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.
Proposed next steps:
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Our initial research was able to cover a select number of strengths, weaknesses, opportunities and threats to the commercial disaster restoration industry. We believe further time will uncover more to provide a robust SWOT analysis of this industry. Furthermore, we also propose covering immediate and future trends in the industry and then further examining how larger environmental trends are impacting the business. Since no region was specified, we will focus generally on the US/North America.
Alternatively, we could focus exclusively on building a robust SWOT analysis of the commercial disaster restoration industry.