Over the past decade, disaster cleanup has become the new mecca for many whom used to work in the Mortgage Field Services Industry. Disaster recovery jobs span across the United States and range from picking up trash and removing debris to power line restoration and real estate procurement. In fact, growing from a fractured infancy, the Disaster Recovery Industry has grown exponentially in response to the massive natural disasters that have struck throughout the US over the past decade. More on point, though Wall Street has become quite enamored. And the sky — literally — is the limit because when it rains, it pours.
The total cost of U.S. billion-dollar disasters over the last 5 years (2016-2020) exceeds $600 billion, with a 5-year annual cost average of $121.3 billion, both of which are new records.
Almost half of restoration and recovery companies plan to see a 10 percent increase in sales revenue this year, according to the Cleanfax Restoration Benchmarking Survey, a trade publication that publishes an annual survey tracking trends in the restoration and cleaning business.
As meteorology had dramatically improved, well in advance of disasters, workers begin assembling manpower and equipment. As many firms originate well outside of a disaster area, the ability to mass purchase material, food, and fuel is both cost saving and mission critical. Much like military recon units, crews are generally the first on location and often play multiple roles such as removing debris so that first responders and law enforcement are capable of reaching outlying victims and assets. It is a pipeline that is as much dependent upon skill and dexterity as it is in trust of the Prime Vendors to ensure that payments are received.
In the first days and initial weeks, a disaster zone is literally the Wild West. Rules go out the window and crews are 100% on their own. Rarely is there any access to food, clothing and shelter. Moreover, though, 911 is not an option for those in danger and the local auto parts store or mechanics for emergency repairs are non existent.
The segway from the Mortgage Field Services Industry to the Disaster Recovery Industry is a natural one. Generally speaking, both industries deal with debris removal, repairs, rehabs, and restoration. The exceptions are best exemplified by legitimate background checks in the Disaster sector with legitimate regulations as opposed to the Mortgage sector wherein multiple people are capable of using the same Aspen Grove Solutions background check and there is zero training at the field level.
Breaking into the Industry isn’t all that difficult. Where the rubber meets the road is in determining if a contractor desires to work for a firm — which would ensure minimal exposure and steady payments — or aspire to Prime Vendor level status with FEMA and other local, county, state and federal government entities. Things like DUNS, SAM, MBE and financial solvency are all critical when it comes to presenting your portfolio or pitch deck to potential Clients. Another item that separates the wheat from the chaff is having a thorough documentation of all your Policies and Procedures. These volumes, generally in the hundreds of pages, are definite game changers when you are initially courting prospective Clients.
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