Home services have been essential throughout the years. However, when the pandemic hit the US, it was one of the most affected industries. Right now, the industry is experiencing a resurgence and growth. This article will delve into the fastest-growing sub-sectors in the home services industry.
At the start of the pandemic last year, the home service industry was one of the most affected industries in the US. The growth rate of the sector has decreased after years of constant growth. Many businesses also went bankrupt due to the lack of business operations. But as the months passed by, the sector has recovered and has become one of the fastest-growing industries in the US.
One of the main reasons this is happening is because the sector is proven to be recession-resistant. Many sub-sectors in the industry are essential, making revenue streams constant despite the economy shrinking last year. Learn about those sub-sectors in the home service industry to have a well-informed decision when entering this particular sector.
HVAC Cleaning and Repair
HVAC systems are essential to many American homes. Overall, Americans spend $29 billion annually to power these systems. That’s about 6% of the country’s overall energy costs. However, HVAC systems are the most expensive to replace, costing Americans about $6,000. This is why HVAC cleaning and repair are important.
Right now, HVAC cleaning and repair is one of the leading sub-sectors of the home services industry. It’s a big deal to many Americans because they don’t have access to the necessary equipment to do this in their homes. Additionally, the installation of central air conditioning systems is becoming more popular alongside the increase of smart devices. This requires heavy equipment and important skills that most Americans don’t have, doing it an even more essential service.
Home Cleaning
Home cleaning is an essential service, populating a decent chunk of the overall home service industry. This is also one of the highest-earning sub-sectors in the industry.
Cleaning is a widespread activity done by Americans. But most of them spend more than six hours doing them every week. Of course, now that people are forced to stay in their homes, you might think that because of this, more of them would spend more time spending. But this isn’t the case.
The home cleaning sub-sector is expected to grow by 6% in the next few years despite the pandemic. More and more Americans are demanding this service, and more of them are asking for people to create companies dedicated to this sub-sector. Many freelancers are doing this service in the US, and they can easily be your employees if you decide to start a business in this industry.
Home cleaning is a sub-sector that has received a reliable growth rate throughout the years. Therefore, this should be the best starting point for entrepreneurs new to the industry. Leverage the growing freelancers entering this business, and you should be good to go in starting a home cleaning business.
Landscaping
Lastly, we can’t talk about the home service industry without talking about landscaping. This is easily one of the most demanded sub-sectors of home service, earning billions of dollars annually. However, much like home cleaning, freelancers are filled with many teenagers working it part-time.
Starting a landscaping business is all about equipment and tools. This is where you should put all your starting investment into. This will make your landscaping job much more efficient. It will also directly translate into the quality of your work. You should also think about expanding into more complicated tasks such as landscape design. This will give you access to more clients.
Landscaping is another reliable choice for new entrepreneurs. But it is equally rewarding for business owners who have already spent some time in the home service industry.
How to Make Your Home Service Business Work
There are a couple of essentials in making your home service business work. One of them is utilizing digital scheduling to make your services more accessible to people. Additionally, more people are on their phones during the pandemic, making this an even more important way of gaining consumers. Since you’re working in the realm of service, making customer satisfaction important. Investing in ways to increase this can help your business grow in the future.
Lastly, you must concentrate on the quality of work you do. The home service industry is quite demanding when it comes to quality, so make sure you give your employees the necessary training to perform better.
Here are currently the best sub-sectors in the home service industry. Each sub-sector has its own unique set of challenges, but they each have room for more entrepreneurs because of the tremendous growth they have received throughout the years. Starting your home service business can be quite challenging but certainly worth the investment.
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