It might surprise you to know that the number of people in the US who own a pool, hot tub or spa is approaching the 20 million mark. As of spring 2017, the number was 18.99 million, according to industry statistics. And after six years of modest gains, in-ground pool construction grew by 10% in 2016. This growth trend for the pool industry will likely translate into growth in the market for the services of swimming pool cleaning and maintenance businesses.
Research from IBISWorld showed that, although the swimming pool industry was hit hard by the recession when more homeowners were cleaning their own pools, the industry has recovered. As a sector of the US economy, swimming pool cleaning companies contribute $3 billion each year, have an annual growth rate of 11-16% and employ nearly 70,000 people. Future growth is estimated to be between 16 and 21% for the sector, which includes nearly 52,000 companies nationwide.
Swimming pool cleaning companies compete on the basis of price, quality of service, and breadth of services offered. IBISWorld Research notes the following trends that are likely to work in favor of all pool cleaning businesses that have a competitive offering:
- An increase in household income and jobs will bring revenue back to pre-recession levels.
- The industry’s target market increased over the five-year period, which has contributed to growth.
- As unemployment decreases, people have less time to clean their own pools, boosting industry revenue.
With all of these trends working in favor of the swimming pool cleaning industry, now is a great time to sell your pool cleaning business for top price. It is also a good time to buy a swimming pool cleaning business that has the ability to grow substantially.
Our service, dedication and drive are your guarantee that if you are prepared to sell or buy your swimming pool cleaning business, we are prepared to help.
Search Transworld’s listing of available pool cleaning businesses for sale here.