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Jobber, a leading provider of home service management software, today released its latest Home Service Economic Report: 2021 Review. The report features expert insights and proprietary data aggregated from more than 160,000 residential cleaners, landscapers, HVAC technicians, window washers, plumbers, and more, who use Jobber.
"The performance of the Home Service category has made the trades an attractive option for entrepreneurs, those seeking a career change, and young adults entering the workforce," said Sam Pillar, CEO and co-founder of Jobber. "The year 2021 was a notable year as it demonstrated just how essential the Home Service category is with its high growth and unprecedented consumer demand."
Raking in the Green: Home Service Outperforms Most Other Categories
Spending on Home Service outperformed most major categories, such as Food and Beverage Stores, Clothing Stores, and Restaurants, throughout 2021, with growth exceeding pre-pandemic levels. Home Service revenue growth has been steadily growing since June 2020. Year-over-year median revenue grew at a faster rate in Q4 2021, even while new work scheduled during Q4 2021 slowed, showing companies were able to make more per job.
The active real estate market, further heightened by the desire to purchase homes before mortgage rates increase, continued to create momentum and demand for home services.
Payments Tech: Pay Now or Later?
Home Service businesses have their own unique dynamics related to payment collection. Some businesses like the immediate liquidity of cash, while others prefer to take checks for a large job so they don't have to pay credit card transaction fees. That said, Jobber's data does indicate that adoption of payment technology is on the rise.
Skilled Worker Trends: Retirements Open More Opportunities For Those Starting Their Careers
The challenge to hire skilled trade workers remains widespread, despite a significant opportunity in earning potential for those who choose to enter Home Service.
"It's a testament to the resilience of the Home Service category that revenue growth can be sustained even when there's a drastic shortage of talent," said Abheek Dhawan, vice president of business operations at Jobber. "With Home Service demand at a record high, the category remains ripe with opportunity for those willing to enter it."
To download the Jobber Home Service Economic Report: 2021 Review, visit: https://getjobber.com/home-service-reports/february-2022/