HindSite Software unveiled findings from its 2015 Green Industry Benchmark Report, comprising two months of feedback from hundreds of green industry business owners.
Released for its third year, the report provided a positive outlook for the industry in 2015, with 82 percent of respondents expecting to grow revenue in 2015 and 48 percent of respondents expecting the economy to improve.
However, growth also is leading to new business problems, according to the report. For the first time in three years, marketing isn’t the top area in need of improvement for a typical green industry business. Instead, attracting and retaining quality employees is now the primary area in need of improvement. Growth also is leading to inefficiencies, with 16 percent of respondents indicating their operational inefficiency is the biggest area in need of improvement.
Other key findings include:
- 43 percent of businesses experiencing revenue growth in excess of 10 percent;
- 49 percent of respondents report profit margins were less than 10 percent in 2014;
- businesses expect to hire, with 73 percent of respondents planning to add new employees in 2015;
- more businesses plan to grow their revenue by adding services (40 percent) versus increasing their territory (14 percent);
- nearly 60 percent of respondents who used field service software saw revenue grow by more than 10 percent in 2014, compared to 35 percent who don’t use software; and
- 62 percent of respondents plan to raise prices in 2015.
The Green Industry Benchmark Report is downloadable for free at info.hindsitesoftware.com.
