The global automotive aftermarket industry is expected to reach $722.8 billion by 2020. Today’s consumers are keeping their vehicles longer and are more aware of the importance of preventive maintenance and scheduled servicing to maximize the lifetime value of their vehicles. This rising demand for aftermarket parts and services is spurring new growth and revenue opportunities for a wide range of businesses operating in the automotive aftermarket industry. For more information on how to strategically plan your business for growth, give us a call.
HVAC, Electrical, & Plumbing
Over the past five years, the Heating & Air-Conditioning Contractors in the US industry has grown by 2.8% to reach revenue of $93bn in 2018. In the same timeframe, the number of businesses has grown by 2.7% and the number of employees has grown by 4.4%. For more information on how to strategically plan your business for growth, give us a call.
For new entrepreneurs, the start-up phase is the most difficult. Existing small enterprises use consultants mainly to solve specific operational problems. Each stage of business establishment and growth brings new challenges and opportunities for the small-scale entrepreneur. New entrepreneurs have to be prepared for the additional demands that the business will make on their time, and to balance their working time with time for their family and for social pursuits. This can be particularly difficult for women entrepreneurs, as they often have responsibility for child care and household responsibilities. With DMG Small Business expertise, we work alongside of the entrepreneur, to project, manage, and maintain growth. We invite you to meet with Small Business Consultant today.
Through the end of 2023 the funeral homes industry will have increased to $19.5 billion, while profits will reach 12.0%. Funeral homes experienced more funerals because of COVID-19. This greater volume bolstered revenue in 2020. As cremation continues to rise in popularity, the population’s increased mobility will continue to diminish the perceived importance of a permanent resting place. Cremation will continue to gain acceptance because more consumers will have relatives that have opted for it. For more information on how to strategically plan your business for growth, give us a call.
The General Freight Trucking industry’s revenue has been increasing at 2.6% over the past five years. This includes a contraction of 1.9% in 2023 caused by inflation. Profit, however, is projected to fall to 7.4%. Total trade value, a significant determinant of growth for trucking, is expected to grow inflated by the recovery in trade activity following the pandemic. For more information on how to strategically plan your business for growth, give us a call.
COVID-19 temporarily reversed growth for the salon and spa industry yet, profit has accounted for 7.1% of revenue. Salons and Spas were forced to shut down to comply with government orders, leading to a plunge in demand for salon services. However, mass immunization efforts have slowed its spread and stimulus payments allowed salons to rebound. For more information on how to strategically plan your business for growth, give us a call.
The Retail Trade sector revenue has increased 5.2% to $8.1 trillion over the past five years, including an expected increase of 2.8% in 2023 alone, with profit margins set to reach 3.3%. Positive consumer trends will boost revenue over the next five years, per capita disposable income and consumer spending are expected to increase as the economy continues to recover from the COVID-19. For more information on how to strategically plan your business for growth, give us a call.