If you’re interested in opening a hydraulic hose franchise of your own, you’ll need to get an idea of the industry forecast for the next few years. Despite the economic downturn, the hydraulic hose repair industry has grown steadily throughout 2020, with the expectation it will continue as such through at least 2024. Take time to review some key facts and figures that should help you make an informed investment decision.
Thriving Through COVID-19
COVID-19 created complications for countless businesses as the stay-at-home policies forced many companies to put operations on hold or change their routines. However, many have continued operations throughout the pandemic, including:
- Construction
- Agriculture
- Food and beverage processing
- Transportation
Businesses like these have one thing in common: they all rely on machinery that uses hydraulic hoses. For the most part, that means our hydraulic hose franchises have been as busy as ever providing them with services, and PIRTEK has continued to grow.
This reliance demonstrates what we’ve always said: as a company that provides services to other businesses, our services are likely to stay in high demand regardless of economic ups and downs, making our company recession-proof.
Hydraulic Hose Franchise Growth Projected into the Future
Not only has PIRTEK opened new franchises throughout 2020, but also our $10 billion industry is expected to continue growing by USD $506.09 million during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. As the population grows, so does the need to feed, clothe, and shelter them. The many industries that provide these services are growing proportionally, and as such, hydraulic hose repair businesses like PIRTEK will likely continue to grow right along with them as they continue to help keep their machines and systems running smoothly.
PIRTEK Stands Out in the Industry
PIRTEK has maintained a competitive advantage in the hydraulic hose repair industry since 1980. Our franchises provide speedy service, meeting clients right at their job site, and utilizing mobile workshops to complete repairs on the spot. We also maintain walk-in stores, where clients are free to walk in and have their hoses repaired or replaced.
For our customers, stalled jobs due to broken hydraulic hoses can cost hundreds of dollars an hour. Our flexible service options, combined with unparalleled expertise and resources, allow them quick service turnaround so they can get back up and running sooner.
Just like we have competitive advantages for customers, PIRTEK franchisees also enjoy many perks.
- Two flexible franchise concepts to choose from
- Comprehensive startup support and training
- Computer and tablet systems to simplify operations
- Ongoing research and development
These are just a few examples of the many ways we work to keep our franchisees ahead of the competition.
Contact PIRTEK today to learn more about why now is the perfect time to start a hydraulic hose franchise with our experienced team.
