As the old saying goes, “the grass is always greener on the other side.” In 2021, that appears to ring particularly true. As the world takes its first tentative steps on the other side of a global pandemic that has raged for over a year, certain industries forecast great demand. While Canada isn’t out of the weeds yet – the number of COVID cases here remains a concern – an aggressive, country-wide vaccination campaign promises a sense of normalcy on the horizon.
Indeed, the grass is greener on the other side for the landscaping industry. As IBIS World points out in its authoritative market research report, the landscaping industry can expect a boost in demand as consumer spending recovers. Fuelled by commercial and government growth, new single-family home buying, and new pushes toward sustainability, demand should rise in the coming years.
This comes as good news to landscaping companies who were hit hard by the halt in spending in 2020. However, the question remains: how do you capitalize on rising industry demand? If you own – or plan to start – a landscaping company, how can you provide a competitive level of service in an already competitive industry?
In this article, we will explore IBIS World’s report, and discuss how access to equipment through Capital Hands can help your business capitalize on the coming years.
The Research Looks Promising
There is a lot to unpack in IBIS World’s market research report, but we will try to keep it as simple as possible. In short, they look at industry trends over the last five years, noting an average industry growth of 0.4%, and then extrapolate about the future. If you look at this graph from Statista, you will see that the market size of landscaping services took a hit in 2020, but that was to be expected. COVID-19 impacted nearly all industries.
So why this sudden optimism? What are the trend-watchers seeing? An analysis of the key drivers in the landscaping industry, including residential and non-residential development, homeownership, and government investment, have onlookers optimistic. Despite current concerns over an overheated real estate market and a (currently) lagging commercial market, the future looks bright. Analysts predict growth due to “favourable macroeconomic conditions,” which is a flashy way of saying that construction activity should increase – and, with it, so too should landscaping demand.
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If you are interested in a more granular understanding of market drivers, benchmarks, and industry outlooks, we encourage you to read the report. Essentially, you can expect rising demand. In order to capitalize on the rising demand, partner with a commercial business financing company to find the right equipment solutions.
How Capital Hands Can Help You Capitalize
Late last year, we published an article on our blog about the current challenges and upcoming opportunities facing commercial trucking companies. In it, we explained the two-pronged need for business financing. On the one hand, trucking businesses want to stay afloat after a year of sluggish performance; on the other, they want to prepare for growth. Our refinancing services and major repairs financing help trucking companies ameliorate cash flow, while our truck loans help them expand their fleets to meet upcoming demand.
The same principle holds true for landscaping companies. If 2020 has left you in a precarious position cash-wise, the experts at Capital Hands can help you secure business lines of credit and term loans, even when the bank says “no.” According to a recent report, over a quarter of business owners said they weren’t able to receive the funding they needed, and nearly half said they used personal credit cards to bankroll their business. This shouldn’t be the case. Our experts work with you to create customized financial solutions so that you can pull yourself back up and start expanding.
Further, our commercial equipment financing options can help set your landscaping business apart in a competitive market. In landscaping, as in other industries, image and functionality matter. A company with new trucks, trailers, mowers, edgers, and tools will function more smoothly and appear more attractive to clients. The experienced commercial financing experts at Capital Hands can help you get what you need. We take a consultative approach to your business’ financing, understanding its strategic needs, budget and equipment requirements.
The last year and a half have been challenging for several industries – landscaping included. But with signs of normalcy on the horizon, industry onlookers predict rises in demand. To capitalize on demand and grow your business after a difficult stretch, contact the business financing experts at Capital Hands. Helping businesses like yours move on to greener pastures is what we do best.