How Does Restoration 1 Stay Ahead of a Booming Industry?
The fastest-growing restoration franchise is capturing a sizable share of a tremendous market
Restoration 1 is the fastest-growing franchise in the restoration industry. Our years of strong and consistent growth are a reflection of the industry’s unprecedented growth. Now valued at more than $210 billion annually, it is predicted to continue its upward trajectory — fueled by factors such as worsening storms due to climate change, aging infrastructure and today’s poor home-construction practices.
“At the beginning of the year, I started doing research to determine where the restoration industry is headed,” says Kurt Hurley, Vice President of Marketing with Restoration 1. “The growth is overwhelming: the terrible hurricanes that we experienced last year, Harvey and Irma specifically, were major drivers of the restoration industry’s growth to $210 billion. While severe weather is going to continue to damage coastal cities, the restoration industry is going to grow regardless of the impact of weather. Aging infrastructure is a continual problem for home and property owners, as are the building practices for the millions of homes built between 1990 and 2001. The growth of this industry is not going to slow anytime soon.”
While the industry is booming, Restoration 1 is one of the only brands that still has territories available and room to grow. This positions our franchisees to capitalize on the rising demand for restoration services in their communities. Our business model offers the potential for high margins in downturns as well as in good economic times, which is why Restoration 1 has added more than 100 locations in the past three years.
“The restoration industry is recession-resistant,” Hurley says. “In almost every other industry, when there are severe dips in the economy, people become extremely guarded with their money. However, when something unexpected happens to someone’s home that makes it uninhabitable, there is no choice: they have to take care of the issue as soon as possible. This is why the restoration industry is a growth industry in good times and bad times, and it is why Restoration 1 has grown so rapidly. We’re extremely proud that our brand has persevered and thrived despite downturns in the economy.”
Restoration 1’s continued significant growth also is the result of consumers becoming increasingly savvier. In the years before Google Reviews, Angie’s List and other online review sites, consumers were forced to hire brands they knew very little about, which allowed companies to over-promise and under-deliver.
“The level of professionalism that Restoration 1 brings to the consumer is undeniable,” Hurley says. “Building customer trust and establishing our brand as a respectable option for consumers is a deliberate part of our ongoing strategy. As a result, our franchisees are able to capitalize on the demand for their services, simply because of how we position ourselves in the market and the trust that we’ve earned after years of performing our services at an expert level. As a result, services such as water damage are growing revenue streams for our franchisees because consumers can now research brands before they hire them. They quickly discover that they should hire Restoration 1 if they want the job done the right way.”
Restoration 1 stresses the importance of delivering a five-star experience for the consumer so we can maintain that positive online reputation across multiple review sites.
“Our total strategy includes reputation management,” Hurley says. “We want our franchisees to learn the importance of online review boards, about how even one negative review can be disastrous. We work diligently with them to show how to build meaningful relationships and deliver the gold standard of customer service. It’s really paid off for us; our franchisees do an exceptional job of building customer trust. It’s vital, because when you sell that five-star service, you have to deliver it. That’s the underlying theme of this organization: we practice what we preach.”