The 2023 Restoration Benchmarking Survey Report
To make your restoration company more competitive and profitable, you need industry data. You need to study relevant statistics and trends to guide your decision-making. Are you offering the most profitable services? Are your wages competitive? Is everyone struggling with employee turnover? (Answer: Yes.) The Cleanfax 2023 Restoration Benchmarking Survey Report is here to give insight into these questions and more with the facts you need to tackle your top challenges and grow your company.
Cleanfax surveyed leaders in the industry to capture a complete snapshot of operations, revenue, services offered, challenges faced, employee issues, and more. Sponsored by Legend Brands, this survey report is your annual inside look at the restoration industry.
Of interest in this year’s survey is how the top challenges mirror what was reported in 2022. Recruiting and retaining staff stays at the top, with many of you commenting that finding and keeping good workers is a challenging issue to figure out. Maintaining margins and profitability ranked second of the top challenges, with differentiating a company coming in third.
As for how restoration companies are getting work, referrals topped the list once again, followed by getting jobs from the insurance industry. Interestingly, social media advertising moved up the rankings, overtaking networking opportunities.
Insurance wait time saw a slight improvement from 2022, with those waiting 3–5 weeks dropping 10%. Companies participating in TPA programs continued to fall with 31% participating, down from 40% in 2022.
Water damage restoration continues to top the services offered category—and with good reason, as it also continues to rank as the most profitable service reported, followed by mold remediation, and then fire/smoke restoration.
Crossover from cleaning to restoration is common, and that is represented in the additional services offered category. Nearly 61% of those surveyed indicate they offer carpet or rug cleaning services.
These data points and more are available in the 2023 Restoration Benchmarking Survey Report. Cleanfax thanks all those who participated in the survey and helped create this valuable industry resource. Dig into the full report here.
About this report: The data recorded in this survey is based on results from restoration contractors responding to invitations to participate in the survey. Results are not necessarily based on audited financial statements.
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February 21, 2023