IFA Calls Out Chem-Dry as Strong Player in 2021 Economic Outlook
Industry professionals call for a dramatic rise in cleaning services business in the post-pandemic months, a perfect opportunity for a Chem-Dry carpet cleaning franchise to surge
While it’s hard to predict with any certainty exactly how the U.S. and global economies are going to take off in 2021, forecasters agree that the post-pandemic period will be one of significant growth. Among the areas that are likely to take off are professional cleaning services for homes and businesses. In its 2021 Economic Outlook for Franchising, the International Franchise Association (IFA) had a lot to say on the topic — and they even mentioned the Chem-Dry carpet cleaning franchise opportunity by name.
Home improvements include deep cleaning
“FRANdata saw increasing need among homeowners for home cleaning, sanitation, and disinfecting services amidst the pandemic, which have all bolstered franchises in the commercial & residential sector,” the report said. “For example, Chem-Dry, a carpet and upholstery cleaning franchise, has signed agreements to expand its footprint with 64 new franchises across the nation as of October 2020.”
“A Consumer Specialists survey of more than 600 homeowners conducted in June 2020 revealed that 57% of homeowners had undergone a home improvement project between March and May,” the report continued. “On average, those homeowners spent $1,750 making home improvements and cited available time as the primary reason. The National Association of Home Builders’ (NABH) Remodeling Market Index’s (RMI) reading of 79 for the fourth quarter of 2020 also indicates strong consumer demand for home improvement, resulting in continued investment in the housing market with surges in refinancing opportunities.”
Recovery to near-2019 levels predicted
“Assuming control of the COVID-19 pandemic is forthcoming this year, FRANdata predicts that by year-end, franchising will have recovered to nearly 2019 levels in most metrics: business growth, employment, economic outlook, and contribution to the GDP,” the report said. “FRANdata projects that more than 26,000 new franchised businesses will open in 2021, recovering most of the losses felt in the previous year. Franchises will employ some 8.3 million people, adding nearly 800,000 new jobs. Much of this employment will be in the retail, food, and services industries and will be for lower-skilled workers, a group that has been disproportionately hurt by the economic downturn.”
“Overall, franchise establishments in the commercial & residential services sector are expected to grow at a rate of 3.4% in 2021 to approximately 76,000 units,” the report concluded. “An estimated 48,000 jobs will be added to the sector in 2021, leading to a total of 301,706 franchise workers sector wide. Franchise output is anticipated to grow by 8% in 2021 to $53.3 billion.
Chem-Dry is the world’s largest carpet and upholstery cleaning franchise with more than 3,000 franchises in more than 55 countries, serving 11,000 homes and businesses a day. Chem-Dry has been Entrepreneur magazine’s top-rated carpet cleaning franchise for 33 straight years. The Chem-Dry Hot Carbonating Extraction process delivers a faster-drying and more environmentally friendly clean that appeals to home and business owners. In addition to carpet and area rugs, Chem-Dry provides cleaning and renewal services for tile and stone, granite countertops, leather and upholstery.