The Benefits of Being in the Mold Remediation Industry
The mold business is usually an invisible one. It’s rarely talked about or referenced outside of particularly gruesome growth. Few people even think about it unless they absolutely have to. But just because mold isn’t a sensational topic doesn’t mean it’s not a legitimate business. Mold can occur at any time, anywhere, and it needs to be dealt with as quickly as possible. Those who want to get ahead in this competitive world should consider offering a service that everyone can take advantage of.
Successful entrepreneurs know that their motivation, drive, and talent are more important than the industry they enter. Those with the right motivation and work ethic could theoretically conquer any industry they choose. That being said, it helps to find an industry that is both met with high demand and isn't overrun with the competition.
Whether you’re a first-time business owner or a seasoned entrepreneur, mold remediation is an industry that checks off practically every box a hopeful mogul could want. It may not have the glamour of other professions, but it’s one of the more secure careers you can choose for yourself.
Removing mold isn’t like installing marble countertops. Luxury items can easily be discarded when the economy takes a turn for the worst. But mold is a serious health risk that no homeowner or commercial business owner can ignore.
The longer mold grows unchecked, the more likely it is that residents will become seriously ill. In some cases, they can develop chronic health problems that are severe enough to cause death. It's just one of the many reasons why mold remediation is a recession-proof industry — one that boasts big profits for those who recognize the opportunities.
The Strength of the Industry
The independent market research group IBISWorld valued the mold removal industry at $210 billion, and it’s not likely to shrink anytime soon. In fact, it’s only likely to continue growing. Here are just a few reasons why mold remediation is almost certainly going to be in even higher demand in the coming years.
- Aging buildings: The older a building is, the less resistant it is to mold. Older buildings are also more likely to contain hidden infestations that have been overlooked or ignored by property owners.
- Poor construction: Building codes and regulations change from year to year. Even buildings that are less than 10 years old may be at risk for mold infestation. Shoddy construction and decaying ventilation systems make mold a common threat.
- Wild weather: Weather patterns that are as severe as they are unpredictable give mold the perfect conditions to form. From hurricanes to floods, water damage and humidity will only get worse.
Having a needs-based service like mold remediation is a smart entrepreneur's dream. And while there may be more competition in the field today, there are still plenty of clients to serve in a territory near you.
Stats to Consider
The Water Damage Defense organization published a report estimating that around 14,000 homeowners a day will have some type of water damage. That’s 5.1 million homes a year left vulnerable to mold. And while not every homeowner with water damage will develop mold, it drastically increases their chances of an infestation.
At an average of $7,000 per insurance claim, water damage is an expensive problem to fix. Mold remediation is even more difficult to address. It's not as easy as dragging out a bucket of bleach and pouring it on the visible colony. It takes a real professional with industrial equipment to fix the problem.
Property owners who ignore mold risk the health of their families and tenants. People who live, work, or shop around mold can develop symptoms that may look like allergies at first but are actually an involuntary response to air contamination. You're not only choosing a stable industry but also making entire neighborhoods safer to live in.
Taking the Plunge
Jumping into a new career can be overwhelming, no matter which industry you choose. There’s always an element of risk that can be off-putting for those who like to play it safe. But mold remediation is an industry that isn't threatened by economic swings or machine learning. It takes real people to come to these buildings and perform this valuable service.
You don’t have to be an expert in botany to succeed in the mold industry — you don’t even have to be passionate about the idea of working with bacterial growth every day! Mold removal businesses are about keeping your community healthy and growing your clientele in the process. If you want to help your customers maintain the value of their property and improve the safety of everyone inside, mold removal may just be the business for you.
Call (888) 926-4046 today or request more information and learn more about franchise ownership with an industry-leading restoration franchise. One of our franchise licensing advisors will be happy to answer any questions you have and assist you with evaluating whether franchise ownership is right for you.