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Key Insights

Check out these key business trends!

Labor shortages will get worse - From 2024 to 2032, US population growth will outpace labor force growth by nearly 8 to 1, increasing the skilled labor gap for home services and construction.

Millennials now make up 32% of the home buying market, making them the largest segment in the space. This generation values technology, convenience, and personalized services more than any other age group. To meet their expectations, residential service platforms are investing heavily in modernizing their offerings.

For home services companies, offering financing options to customers isn’t just a nice-to-have—it’s a powerful growth tool . Costly service repairs like roof and HVAC replacements are significant investments , and providing financing solutions allows homeowners to manage these costs more easily, helping them make necessary repairs or upgrades without delay.

Employee-owned businesses see higher wages (33% higher), longer job tenure (53% longer), and greater household net worth (92% higher) for employees. Companies benefit from higher profit margins (8.5% higher) and faster sales and employment growth (2% faster per year).

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