As with any financial investment, considering the long term viability of your investment is an important factor. The prospect for the future of carpet cleaning is a bright one, and if it is done correctly, it can be a smart investment that is sure to give you a healthy return.
What does the Future Look Like?
The future of the carpet cleaning industry looks very promising. Though some homes have gone to wood or laminate flooring and are not currently in the need of carpet cleaning services, most businesses have maintained carpets as it costs less to replace, helps to prevent workplace injuries, and can be bought in bulk for carpeting multiple areas of the business. Unlike wood, regardless of the batch the product is made in, carpet will look the same; it can be uniformly added to large spaces if small pieces need to be replaced, and companies certainly appreciate this benefit. In recent years, many homes are going back to carpeting, and this will increase future opportunities for carpet cleaning businesses.
By the Numbers
There are over 20,000 carpet cleaning businesses in operation across the United States. The carpet cleaning industry is dominated by smaller businesses, which are usually those that cater to their own communities. These businesses employed nearly 70,000 people and generated revenues in excess of 3.1 billion dollars in the last year. In the last decade, the increase has been largely due to the commercial industry. It is relying more and more on the cleaning of carpets so that the flooring does not have to be replaced as often.
It is estimated that carpet cleaning business should increase in the next decade by up to 20%. Part of the reason there has been slower growth in recent years is that many home owners are struggling with the lagging economy. The stronger the middle class income, the stronger the profits for cleaning companies. Once this unfortunate decline has passed, experts predict that one of the first industries to recover will be in the cleaning area. In fact, carpet cleaning and other areas of cleaning have been some of the types of services to decline the least during this economic low point.
One area where there has been substantial growth has been in cleaning companies who are using non-toxic and “green” principles to do their cleaning. It is expected that this area of cleaning will see even more growth in the coming years than is expected for traditional cleaning, and this is not just for personal home cleaning. Many businesses are taking their employees’ possible allergies or health concerns into account and are leaning to this safer cleaning option. Cleaning companies that are willing to take some risks, step outside of the box, and try new methods of cleaning along with new green products will find that their client base could expand dramatically.
Like many businesses, economic times can have an effect on the bottom line, and this is no different for carpet cleaning services. What is different is that this business has fared comparatively better than other service industries and is on a projection to continue to increase in the years to come.