Industry Analysis & Industry Trends
A declining crime rate is causing industry revenue to fall, as participants compete among each other for a decreasing number of jobs. As a result, operators must compete on price, which is causing profit to contract. Luckily for industry operators, crime is going nowhere any time soon. Although revenue is forecast to continue contracting over the next five years, well-established and experienced operators are expected to gain market share as unsuccessful companies exit.... purchase to read more
Industry Report - Starting a New Business Chapter
The industry has a low level of concentration, with no player holding significant market power. The industry is highly fragmented, with a large number of small and independent players. Competition within the industry is high, contributing to its moderate barriers to entry. The skill level needed to compete successfully in the industry is moderate, and operators are required to complete a certification process. Operators must also comply with federal regulatory requirements.
Once certification is acquired, new entrants will be further challenged by several factors, including building brand recognition. To effectively compete with established competitors, potential operators must gain the trust of consumers by developing a reputation for reliability and quality work... purchase to read more