Despite facing difficulties during the economic downturn and during the pandemic, cleaning services are bouncing back and are expected to make a full recovery.
Predictions & Trends
A 2018 report from Allied Market Research predicted that the cleaning services market would grow at a compound annual growth rate of 6.2%, reaching $74.2 billion annually in 2022. Commercial cleaning accounted for more than $37 million in growth, while residential services were expected to see a faster growth. That being said, no one saw the pandemic coming and the economic downturn that plagued every industry, so how has the economic downturn affected economic predictions and trends? It’s estimated that cleaning industry revenue could decline by 1.6% which is thankfully low, but prices have increased for commercial and office cleaning from an average of $25 or $30 per hour to $55 to $65 with residential rates facing a similar increase in costs.
It’s estimated that cleaning industry revenue could decline by 1.6% which is thankfully low, but prices have increased for commercial and office cleaning from an average of $25 or $30 per hour to $55 to $65 with residential rates facing a similar increase in costs.
Floor care for carpet and upholstery has had the highest revenue and fastest growth and is predicted to continue showing the highest growth of most commonly provided services. Considering the amount of people that have industrial grade carpet cleaners in their homes or know how to use the machine efficiently, it’s likely that carpet cleaning -whether it’s whole house or a rug – will continue to be a big source of income. Windows are another priority for almost half of spring cleaners with a similar favorability base for gutter cleaning in the fall.
To stand out in hard times with lower growth predicted up to 2024, it’s important to cater to ultra-niche services. Category-wise services are more affordable but require complete staff training and equipment for a broad market. For example, carpet, gutter, window, and minor handyman services need specific staff and equipment depending on the job. Thankfully, at Authority Home Services we’ve completed different projects in window cleaning & sealing, gutter cleaning, repairs, re-design, garage insulation & interior finishing, dryer vent cleaning/ repairs/outlet screen install, grout and carpet cleaning, and much more!