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2024 U.S. Industry Statistics & Market Forecast - Personal and Household Goods Repair and Maintenance
Market Size & Industry Statistics
The total U.S. industry market size for Personal and Household Goods Repair and Maintenance:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Personal and Household Goods Repair and Maintenance industry include:- Increased demand due to economic downturns - consumers repair instead of replace items
- Growth in sustainable practices - upcycling and refurbishing gaining popularity
- Technological advancements - need for repair experts in electronics and smart devices
- Shift towards service subscriptions - recurring revenue models for regular maintenance
- Impact of online tutorials and DIY culture - consumers opting to fix items themselves
- Growing importance of local services - preference for community-based businesses
- Expansion of mobile repair services - convenience in home or office repairs
- Regulations on right-to-repair - legislative changes affecting service accessibility
- Decline in traditional skills - shortage of skilled artisans and repair professionals
- Increased use of analytics - use of data to improve service efficiency and customer satisfaction
Product & Services Breakdown
Research products and services in the Personal and Household Goods Repair and Maintenance industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Maintenance And Repair - Appliances And Powered Household Equipment |
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Maintenance And Repair - Household-Type Lawn, Garden, And Snow Removal Equipment |
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Maintenance And Repair - Major Household-Type Appliances |
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Maintenance And Repair - Household Furniture |
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Maintenance And Repair - Footwear |
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Maintenance And Repair - Watches And Jewelry |
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Maintenance And Repair - Garments |
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Maintenance And Repair - Sports And Recreation Equipment |
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Maintenance And Repair - Water Sports Equipment (Exclude Powered And Non-Powered Watercraft.) |
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Maintenance And Repair - Other Sports And Recreational Equipment |
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Maintenance And Repair - Recreational Transportation Equipment |
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Maintenance And Repair - Motorcycles |
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Maintenance And Repair - Powered Watercraft And Powered Sports Vehicles |
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Maintenance And Repair - Musical Instruments |
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Resale Of Merchandise |
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Resale Of Parts And Supplies Not Included In Repair Work |
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Resale Of New Equipment |
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Resale Of Other Merchandise |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Personal and Household Goods Repair and Maintenance company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Personal and Household Goods Repair and Maintenance industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Personal and Household Goods Repair and Maintenance measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% | Order at top of page |
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| General and Operations Managers | 5% | |||
| Sales and Related Occupations | 5% | |||
| Office and Administrative Support Occupations | 16% | |||
| Other Office and Administrative Support Workers | 6% | |||
| Office Clerks, General | 6% | |||
| Office Clerks, General | 6% | |||
| Installation, Maintenance, and Repair Occupations | 40% | |||
| Vehicle and Mobile Equipment Mechanics, Installers, and Repairers | 12% | |||
| Small Engine Mechanics | 11% | |||
| Motorboat Mechanics and Service Technicians | 7% | |||
| Other Installation, Maintenance, and Repair Occupations | 25% | |||
| Home Appliance Repairers | 14% | |||
| Home Appliance Repairers | 14% | |||
| Production Occupations | 21% | |||
| Textile, Apparel, and Furnishings Workers | 12% | |||
| Miscellaneous Textile, Apparel, and Furnishings Workers | 6% | |||
| Upholsterers | 6% | |||
Personal and Household Goods Repair and Maintenance Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Personal and Household Goods Repair and Maintenance industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Personal and Household Goods Repair and Maintenance industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Personal and Household Goods Repair and Maintenance industry. |
Source:
Innovation News
- Jan 26, 2024: Same Day Service trademarks "SAME DAY APPLIANCE REPAIR" - Installation, maintenance and repair of kitchen equipment; Installation, maintenance and repair of appliances; Repair of household and kitchen appliances
- Jan 09, 2024: Serveco North America trademarks "LUXE CARE" - Furniture care kits comprising cleaning products for furniture
- Dec 06, 2023: Thomas M. Amato trademarks "THOMAS M. AMATO" - Furniture repair, reconditioning, refinishing and restoration
- Aug 07, 2023: Prefix Maintenance raises $4 million in funding.
- May 16, 2019: Central Boiler Companies patents Systems And Methods For Agitating Fuel Within A Heat Exchanger
- Jul 19, 2018: Central Boiler Companies patents Boiler With Access To Heat Exchangers
- Jun 30, 2016: Plumchoice patents Systems And Methods For Providing A Client Agent For Delivery Of Remote Services
Recent Federal Contracts for Personal and Household Goods Repair and Maintenance
- Apr 02, 2024: MECO CONTRACTORS LLC (Arp, TX) awarded $250,446
- Apr 01, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $10,070
- Mar 29, 2024: M & E SERVICES, INC. (Hopewell, VA) awarded $2,650
- Mar 29, 2024: BAY AREA MARINE SERVICES LLC (Sausalito, CA) awarded $9,558
- Mar 29, 2024: NOELS INC (Farmington, NM) awarded $6,890
- Mar 28, 2024: DIVERSIFIED LABORATORY REPAIR INCORPORATED (Gaithersburg, MD) awarded $14,750
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