Managing Your Restoration Business

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Studies show that 93% of consumers say reviews impact their purchasing decisions. In fact, nothing has a larger influence on a customer’s buying decision than their impression of a company’s online reviews – especially if they don’t have a lot of pre-existing knowledge of the industry. 

If restorers don’t embrace some of the same cost-saving measures as the service industry post-pandemic, they may find themselves taking a back seat to national conglomerates and franchise groups that are already moving in this direction.

The inability of contractors to cover overhead expenses is one of the key factors why so many restoration companies fail and will continue to do so unless the overhead burden of the company is accurately reflected in their estimate’s markup.

While this article is just a snapshot of the data captured in R&R’s 2021 State of the Industry study, the trends largely continue to be the same. In addition to biggest challenges, third party administrators, spending habits and future predictions, this year we explore the impacts of the COVID-19 pandemic on restoration companies.

Valerie King introduces herself to the restoration and remediation community.

My experience with the sale of a business has been an eye-opening one, and it’s helped me realize the full spectrum of emotion my clients encounter during the selling process.

The role diversification plays in increasing the value of your business.

Most entrepreneurs have a strong instinct to grow their revenue through new businesses instead of doing more with the business they already have.

Buyers will pay more for a business that is growing than one that is declining or stagnant.