EvolutionoftheRestorationIndustry-BusinessMentors.pdfVIP

The Evolution of the Restoration Industry Topic: General Author : Rosebrook, P. Date/Pages Apr 2001 pp. 14-16 I find it absolutely amazing that a person can place a piece of paper into a facsimile machine and the information from that machine is sent to another, anywhere in the world, within seconds. The paper that I was holding in my hand can now, in a sense, be thousands of miles away! I can also turn on my computer and have immediate access to more information in seconds than past generations encountered in their entire lifetime. Sometimes change is dramatic and immediately evident, and other times it occurs incrementally and it is not noticed. Many restoration owners and managers are so busy in their daily operations that they fail to notice and react properly to changes taking place around them. It is an exciting time to be a restorer with the industry currently experiencing so many dramatic changes. Your realization and subsequent reaction to these changes could determine the success or even the survival of your company. However, the restoration industry continues to provide incredible opportunities to those that seize them and create proactive plans for success. There are several factors affecting these changes. The primary changes are being driven by shifts in the restoration and insurance business cycles. Most of the other changes are the derivatives of these shifts. All industries follow similar growth patterns and the changes that occur industry- wide are quite predictable. Industry growth cycles have four major components: emerging, growing, maturing and declining markets. Restoration just started a dramatic shift into the maturing phase. This trend began nearly five years ago and was preceded several years by the insurance industry shifting to a maturing phase. Emerging markets are characterized by high prices, minimal recognition of the indust