Water damage can cause permanent harm to your belongings. It can shrink porous objects, cause damage to the property, can penetrate your basement, and wreak havoc on your furniture.
Who do you call when you are in such a situation? A water damage restoration company, right? It just takes 24 hours for major problems like mold to emerge due to pools of water inside and around your house. A water restoration company will act quickly to estimate the damage and decide the most effective remedy to protect the parts of the house not yet affected by the damage.
The impactful work of the water damage restoration industry is making it a lucrative career option. According to an estimation, globally, 14000 people experience water damage problems in their house or the professional site. These people call for water damage restoration experts to make an appraisal of the situation.
The cost of water damage restoration is not cheap either. Simply drying an uncontaminated water leak can cost around $2,700. Still, it can go as high as $7,500 if the damage has spread over the whole house, engulfing carpets and drywall as well. So, no wonder with the amplified demand for a water damage advisor for cleaning domestic and worksite water damage, water restoration has become a billion-dollar industry. Therefore, a highly attractive career choice these days.
If you have been thinking about making a career choice, you can work as a Water Damage Advisor, though you will require proper skills and training.
Here are some other reasons why working in a water damage Restoration Company is on the rise.
The industry has great potential
As of 2018, the water restoration industry’s worth stands at $210 billion. The figure is likely to grow in the coming years. The sector is regarded among the top growing industries. Several reasons contribute to this pace of growth, including the intensity and frequency of natural disasters such as floods, torrential rains, aging buildings, and low-quality building material.
Another factor is the way modern houses get constructed. Though they are all laced with cutting-edge technologies, they are also facing more severe mold problems. The fact that new homes are more covered restricts the airflow inside the house, leading to the mold problem. In the past, people experienced molds too. However, they were less sensitive to the problem, unlike now when awareness about the spread of disease is more prevalent. People are concerned about the health impact of mold in their houses. New technologies help home restoration specialists to detect mold better. So the demand for the water damage industry is expected to soar, and so is the need for water damage experts.
Restoration work has high profit margins
As mentioned above, this is a billion-dollar industry charging a handsome amount from their customers. Often the jobs can have as much as 75% profit margin. For the larger projects such as repair and rebuild, the cost can reach $10000 too. Out of this, the profit margins can be 50% of the price. It means as a business, you only need a couple of hundred small projects to make thousands of dollars per year.
The first year of your business can be a little rough as you are still trying to make your mark in the presence of the players. However, you can improve using advertisements and social media campaigns. You can also partner with local government bodies and firefighting departments and work together.
It offers a chance to develop to start your own business
If you have the right experience of working in the industry, you can start your own business. The growing demand makes it a relatively less saturated sector. A welcoming aspect of starting your own business is that you don’t need bulk investment. At the start of the company, you might offer limited services. But as time passes, you can develop your portfolio.
At the start buy essential equipment to offer the basic services of a water restoration company. Initially, you can develop a business model to hire subcontractors for individual jobs who use their equipment. It buys you time to develop business and take a team of professionals on board. So with proper experience or skills, you have the opportunity to move up the development ladder and start your business.
Working in the water restoration industry is relatively risk-free
Some industries have a high risk of getting impacted by economic and recessionary influences. Water restoration is not one of them. Regardless of the financial state of affairs, there will always be a demand for water restoration specialists to clean after a nasty pipe leakage or sewage problem in your area. If there are never-ending problems, people will always be willing to pay. So working in the water restoration industry is relatively risk-free.
Working in the restoration industry is about helping others
Working in the restoration industry gives a chance to help others get rid of their problems. Many of you might want to get engaged in a sector that is not only monetarily beneficial, but it offers the peace of mind that you get by helping others. Water restoration specialists engage in tiring and strenuous labor, often working in dirty water pools, dirt, and hunk. So, if you care about other people, you could be the greatest fit for this industry.
The water restoration industry is lucrative
There is no doubt that people want to opt for an industry with a scope and pays well. The same goes for the water restoration industry. The industry is making billions, is profitable, and pays well too. According to the Zip Recruiter, a water damage technician can earn an average salary of $34,446 /year. The highest they can earn is $48,500. Therefore, people looking to work in an industry that pays a relatively good salary have the option of working in the water restoration industry.
The demand for water restoration specialists is rising, and it will continue to do so in the coming years. The drastic changes in climate causing severe and sudden alterations in weather can result in torrential rains, floods, and other water problems. Hence, the demand for water damage advisors is on the rise. If you have an innate desire to help people eliminate their problems, this is the job for you. It is financially lucrative, offers development opportunities. Above all, it is least affected by economic and recessionary factors. Working in this business provides job stability because there is a constant need.