The Home Services Boom
by Patrick B. Digital Marketing SEO Advertising Social MediaThe Home
Services Boom
The business of home
remodeling. You’re either in it or you’ve interacted with someone in the
trades. Its always been a lucrative market, now more so than ever. From flooring contractors to fence companies, the entire industry is exploding.
With many people spending more time at home, there is an
abundant need to clean up and beautify the entire house; both inside and out.
General contractors such as those involved with home
renovation projects, are slammed and literally cannot handle the workload.
Many homeowners end up calling around to various contractors just based on
availability alone. For instance, concrete
contractors are heavily in-demand due to the shortage of qualified local contractors to be able to perform the
work. Whether people are looking for exterior contractor services like fencing or landscaping, homeowners are having trouble finding contractors to be able to complete the services.
In this new “gig economy,” you see displaced workers from
other industries moving into the trades, to stay employed. But not only to stay
employed, many are starting their own businesses. I have met people still in
college starting their own contracting businesses. It is a booming market, and
everybody is trying to get their piece of the pie.
The fantastic thing is that contractor management services have been made available to handle backoffice operations, sales, and marketing to help contractors scale. Its something I have personally witnessed with contractors attempting to start from scratch and scale without failing.
Prior to nationwide quarantines, there was always a need for
these services. However, many people still spent most time at work, versus at
home. Projects were slow to evolve. Today, purchases are made quickly and with
confidence. The market has been flipped on its head, with everyone scrambling
to fill the demand that exists in this new marketplace.
Industries such as cleaning services were not very
in-demand. The demand was consistent but never growing or thriving. In today’s
world, we see cleaning companies booked out for months, for both residential
and commercial jobs. Home delivery services, remarkably similar. We always had
steady growth, but not a large trajectory within a matter of months.
Restaurants and retail stores quickly had to adopt new Standard Operating
Procedures to meet the demands of their customers, on a dime.
Now services such as Uber, Lyft, and Amazon are literally
part of our daily living expectations and needs. How will we get groceries, how
will we get our new iPhone without some type of delivery service dropping at
our doorstep?
It has not been even a full year yet, but you already see
the reliance on these types of instant gratification services. The “I want it
now” world we have always lived in has taken on a completely different scope
entirely. Electronic payment online or even in stores is the expectation. Many
places are not even able to break large bills due to the lack of inbound
physical dollar bills they have in their drawer; they cannot give change. They
ask you use some form of electronic payment due to the “coin shortage.”
While it seems that our economy is going downhill in some
ways, I feel it is just morphing into something else. And while it morphs,
there are mass changes that will affect millions of people. Displacement and
replacement. Taking away from one industry and fulfilling the need in another.
For instance, commercial services. With the lack of need for
exceptionally large extravagant buildings to house thousands of workers during
the daytime hours, commercial building services are in extremely low demand.
But if a company that traditionally has focused on commercial services switches
to homeowners, they can fill that gap rather quickly and expound upon the need
in a new market.
As we move into 2021 we will continue to see the rise in the
need for homeowner services. Not to mention small business owners that run
their businesses out of their home now. Many have gotten used to being at home,
being more productive, and will never go back to a brick and mortar office. As
I mentioned, the needs are not going away, they are just being displaced
somewhere else.
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Created on Sep 27th 2020 09:21. Viewed 363 times.