Why you should start a mold & water damage restoration business in 2023

1. Mold and water restoration services are highly sought after and profitable.
   For simple water mitigation jobs or dry-ups, the average cost of water restoration services is around $2,650 and typical profit margins are 73%. Average costs for mold remediation vary between $4500-$8000.
   
   
2. The Restoration Industry: A Thriving Field
   The US has a booming mold and restoration industry, currently valued at $210 billion, and it's expected to rise by 3% each year. The demand for restoration services is due to a few key factors. Firstly, the increasing intensity of natural disasters such as flooding or wildfires. Secondly, aging homes that require repairs due to weathering over time. Lastly, infrastructure failures like burst pipes that can lead to water leaks and mold growth within homes.
   
   
3. Due to market fragmentation, there's an opportunity for new players to enter the field.
   As the saying goes, "when it rains, it pours." And when it comes to mold and water damage, this couldn't be more accurate. Whether it's due to a plumbing accident, a natural disaster or simple humidity, water can turn your life upside down in mere moments. For those in the mold restoration business, however, fragmentation can mean opportunity. With plenty of gaps in the market, new players can make their mark in this industry - especially with a franchise.
   
   
4. Mold and water restoration businesses have minimal overhead expenses. Misconceptions about mold water restoration businesses are often presumed to charge exorbitant prices to make a profit. In reality, however, this is not always the case. With low overhead costs, these businesses can offer reasonable prices and still generate revenue.
   
   
5. Recession-proof industries
   Water damage is an unpredictable and unwelcome issue that can arise at any time in any home or business. It can result from a variety of causes such as broken pipes, hurricane damage, or a leaky roof, and can lead to costly and severe damage. However, the silver lining is that the mold and water damage restoration industry is one of the most reliable and recession-proof businesses around. According to IBISWorld, the industry is projected to grow by an average of 3.8% per year through 2020. This makes it a promising prospect for business owners who want to invest in a dependable industry.
   
   
6. Investing in mold and water restoration businesses can offer high return on investment (ROI).
   Starting a mold and water restoration business can yield a great return on investment (ROI). High demand for restoration services due to frequent water-related disasters guarantees a steady workflow for your business. Additionally, the profitability of water restoration businesses promises a good income. If you are considering venturing into this industry, now is the perfect time to start.
   
   

Investing in Mold and Water Restoration Businesses: A Wise Choice

Mold and water restoration businesses can provide a lucrative investment opportunity, with a high return on investment. If you're seeking a recession-proof business with minimal overhead costs, Mastertech can help. Reach out to us for a free consultation to learn more about starting your own mold and water damage restoration business. We're here to answer any questions you may have as you embark on the incredible journey of business ownership!