Lawn & Landscape recently released their State of the Industry Report for the 2023 year. The report dove into a breakdown of a variety of numbers including revenue, regional outlook, and factors like wages, wages and labor market, and inflation.

Research shows that revenue jumped in 2022. While last year's mean was $1.74 million, it grew to $2.32 million this year. The median in 2021 was $604,000 and grew to $1 million in 2022 which marks the first time that both numbers were $1 million. This year, a remarkable 48% saw more than a million in revenue compared to last year's 39%.

 

The report goes on to show that industry confidence in business and the industry is strong however, many business owners are concerned about keeping up with workloads when the industry is facing a labor force shortage. According to vice president and COO, K&R Landscaping in Hamilton, Ohio's Ken Schwarz, said he manages the labor shortage well and pools from the H-2B program. The NALP backed program allows U.S. employers or agents to bring foreign nationals to the country to fill temporary nonagricultural jobs.

Meanwhile, in the West, CEO, Botanica Landscapes in Yuba City, California, Jennifer Chaplin said, "For us, this year is going well. When COVID hit, our residential construction portion of the business really increased, and it has pretty much stayed at that point. We are booked three months out for appointments. That's just scheduling a visit."

The analysis shows that landscape maintenance, design/build services, and lawn care chemical application will be the fastest growing revenue services in 2023. This stays in trend with what was the fastest growing service for revenue in 2022. The industry sees the quality labor shortage, high fuel prices, and the economic recession as the most impactful issues on business in the next three years.

To read more of the State of the Industry Report, click here.