Automotive
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.
Doctors & Physicians
Workforce challenges in the health care industry, such as staffing shortages in hospital specialties and nursing shortages are evident across the globe. Compounding the problem is a scarcity of next-generation skills to guide and support the transformation to becoming patient-centric, insight-driven, and value-focused organizations. When planning for the future of work, health care organizations will need to assess the physical proximity, automation level, and talent category. For more information on how to strategically plan your business for growth, give us a call.
HVAC, Electrical, & Plumbing
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.
Real Estate
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.
Law Firms
The law firm industry revenue has increased to $397.1 billion over the past five years, including an increase of 0.7% in 2023, when profit margins will reach 21.5%. Revenue growth is supported by corporate law. Industry revenue increases are in line with overall economic growth. For more information on how to strategically plan your business for growth, give us a call.
Funeral Homes
Through the end of 2023 the funeral homes industry has increased to $19.5 billion, while profits reached 12.0%. Funeral homes experienced more volume due to the COVID-19 pandemic, leading to even greater revenue increases 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 as 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.
Trucking
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. Total trade value, a significant determinant of growth for trucking, is expected to grow, but be 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.
Hospitality
Full-service revenue has grown $208.9 billion over the past five years, including 1.1% growth in 2023 alone, when profits reached 4.0%. Fast-casual restaurants where patrons pay for quick-service food products before eating that offer quality food and ambiance, have become popular because they provide convenient, gourmet food. Revenue has grown 2.5% over the past five years with profits reaching 5.1%. For more information on how to strategically plan your business for growth, give us a call.
Wellness Centers
Due to the effects of the COVID-19 pandemic, growth in the spa and salon industry was halted temporarily. However, profit was able to account for 7.1% of industry 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.
Retail
The Retail Trade sector revenue has increased 5.2% to $8.1 trillion over the past five years, including an increase of 2.8% in 2023 alone, with profit margins reaching 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 pandemic. For more information on how to strategically plan your business for growth, give us a call.