Industry Analysis & Industry Trends
Companies in the industry provide a range of hard and soft services. Hard services include repairs and maintenance to buildings and equipment, while soft services include cleaning, security and reception services. Industry revenue is estimated to grow at a compound annual rate of 4.3% over the five years through 2016-17. The industry has benefited from increased outsourcing in the public and private sectors for over a decade. More companies, businesses and government agencies use combined facilities support services to reduce their operational costs and focus on their core business functions. Rebounding economic conditions, growth in the number of businesses and improving business confidence levels also increased demand for industry services... purchase to read more
Industry Report - Starting a New Business Chapter
The barriers to entering this industry are low because little capital is required to establish a new firm, there are few regulatory requirements, few licensing restrictions and workers do not need much training or a particularly high level of education. Some larger firms benefit from scale economies, as well as economies of scope by providing a wide range of facilities maintenance services and other complimentary services.
Some service segments in this industry, such as maintenance and cleaning, require higher capital inputs for equipment and vehicles than other service segments. Overall, the industry has low capital requirements, with the majority of work carried out by manual labour. Thi.. purchase to read more