New Year, New Venture: 4 Reasons to Buy a Construction Business for Sale in Florida
Estimated reading time: 6 minutes
4 Reasons to Buy a Construction Business for Sale in Florida. 2020 was a rough year for countless businesses across Florida. While the pandemic took a toll on key industries, the damage has already started to subside in 2021. The construction industry, in specific, is already growing at a rapid rate. As 2021 continues, this growth is expected to increase and reap a plethora of benefits for construction business owners and investors.
If you’re considering buying a construction business for sale in Florida, click here to get access to a comprehensive database replete with the most competitive listings. If, however, you’re still on the fence about investing in the construction industry, we’ve rounded up four reasons why you should consider changing your stance. Let’s dive in!
1. The Great American Housing Boom Is Set to Take Over in 2021
There’s a reason why Forbes called 2020 the year of The Great American Housing Boom. While the construction industry faced its fair share of hurdles, there was still substantial growth compared to other industries. This growth has cascaded into 2021 at full throttle.
It’s important to note that both commercial and residential construction businesses are witnessing massive revenue growth. However, the residential sector is specifically reaching unprecedented heights of success.
In June, new home sales increased by an astounding 55%—a percentage that the industry last witnessed in 2005. Today, the residential housing market is set at a whopping $35 million.
While the pandemic seemingly wreaked havoc on the residential construction industry, the facts and figures indicate otherwise. In fact, 2020 was evidently a massive year for construction business owners across Florida.
Needless to say, these massive gains are expected to further snowball and crystallize in 2021. With millions of young homebuyers entering the market, the next couple of years look extra rosy for the construction industry.
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2. The Construction Industry Is Thriving Because of SEO
If there’s one industry that flourished unlike any other in 2020, it’s the digital marketing industry. In essence, online spaces dominated the commercial landscape last year, and their popularity hasn’t faded since. In fact, it’s only getting stronger.
Here’s why construction business owners are gleefully benefiting from the success of SEO in 2021. Unlike many industries, the construction industry can directly ride the coattails of SEO. Construction companies can leverage lead generation, paid marketing, social media management, and web design and development to (i) rank higher on SERPs, (ii) generate more local traffic, and (iii) get more projects/close more deals.
By optimizing their online presence, they can unlock massive growth. This seamless fusion of the construction industry and the digital marketing industry works exceptionally well for the former.
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3. There Has Been a Steady Increase in Home Improvement Projects
While the rate of the construction of new homes remained stable in 2020, the same cannot be said for home improvement projects. Here’s why. The large majority of homebuyers couldn’t afford to put their home construction plans off for the entire year. Owing to time and financial constraints, these plans resumed—albeit towards the end of the year.
In comparison, homeowners who required home improvements weren’t presented with the same level of urgency. In essence, they could wait, and they did wait. This resulted in a decrease in home improvement projects across Florida in 2020.
However, the introduction of a safe and effective COVID-19 vaccine has prompted homeowners to kick-start home improvement projects in 2021. This massive shift has been one of the primary reasons behind the rapid growth of the construction industry this year.
4. The Commercial Construction Sector is Reviving
After months of restricted growth, the commercial construction sector is slowly but surely reviving. Here’s a closer look at the key industry activities that are gaining momentum this year:
- Office Building Construction
- Mall, Retail Store, and Shopping Center Construction
- Restaurant, Bar, and Café Construction
- Hotel Construction
- Gym, Cinema, Pool, Spa, and Other Recreational Building Construction
- Hospital Construction
- Gas Station Construction
- Factory Construction
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As the demand for commercial construction projects continues to increase in Florida, the industry is expected to unlock massive growth this year. These projects include both small-scale and large-scale constructions.
Office building construction projects, in particular, are steadily increasing. Over the past few months, people have started to ease out of remote working and return to the conventional workspace, i.e., the office. This transition couldn’t have been made possible without a massive redesigning of offices. Owing to the pandemic, many offices across Florida are undergoing renovations to fit new design requirements.
The new and improved COVID-19-friendly office design rests on the foundation of physical distancing. How is this achieved? By introducing private zones, segmented workspaces, and flexible barriers. But how is all of this truly achieved? Commercial construction. In other words, a steady influx of revenue for commercial construction business owners.
As both residential and commercial construction projects across Florida resume, business owners and investors have their sights firmly set on this flourishing sector. If you’ve been looking to buy a lucrative, secure, and rapidly growing business, you may want to consider investing in the construction industry.
At TBX Florida, our job is to help you find a construction business that checks off all the boxes. Click here to browse through some of the most popular business opportunities across Florida. Whether you want to buy a business or sell one, we’ll help you get off on the right foot. Our team will take care of the legwork so you can breeze through the buying or selling process and climb the corporate ladder. Call (561) 602-2519 for more information; we’re always happy to help!
For more information, contact John.