The residential sector of the cleaning industry has been consistently healthy, and demographic trends are fueling even more growth in an industry that is usually ripe with opportunity. Such positive indicators make great news for franchises like You’ve Got Maids, which uses its established processes to leverage this demand.
In 2019 alone, the U.S. residential cleaning industry netted a revenue of $943 million. Additionally, the average annual growth has been nearly 3%, and industry forecasts point to a rosy future – experts predict a growth rate as high as 10%.
Many demographic trends may be fueling this growth. First, the number of Americans ages 65 and over has been steadily increasing over the past few years and is expected to hit 55 million this year. Of these seniors, a whopping 87% want to age in place. However, health challenges might complicate home cleaning schedules, and seniors might look for a service that takes care of the dirty work for them.
Young professionals also contribute to the increased demand for residential home cleaning services. For example, busy millennials often look to outsource home cleaning and remodeling projects to be able to devote more time to the things they would like to do rather than the things they need to do.
The confluence of these demographic trends makes 2020 an especially good time to invest in You’ve Got Maids. Our low startup costs, the ongoing potential for revenue and low overhead costs help franchisees hit the ground running. The residential cleaning market is ripe with opportunities for passionate entrepreneurs who want to break into a high-demand opportunity with plenty of growth potential. Now is the time to dive in and learn more about You’ve Got Maids.