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By: IBISWorld Analyst, Ian Buchanan
Strategic Questions for Choosing the Right Supplier
Facilities management services have been becoming more popular among building owners. Providers offer direct management of a range of facility functions, from janitorial services to landscaping, building maintenance and energy management. As the
economy has been growing during the past three years, business investment has risen, thus encouraging demand for these services.
The market is estimated to have nearly 2,000 service providers spread throughout the country, with no one supplier controlling a majority of the market share. With no front-runner setting a market standard, buyers may experience difficulty choosing a high quality provider. Despite the large supplier pool, selecting one is an important process. Suppliers are placed in charge of a wide range of critical services that ensure the building is, and remains, operating efficiently and effectively. Properly vetting service providers prior to signing a contract will help guarantee necessary services are carried out in a timely manner. During the negotiation phase of selecting a service provider, there are a number of key questions buyers should be asking in order to determine the supplier’s quality and gain insight into how they will perform.