Human services have enjoyed strong growth in the United States in recent years. The Institute for Supply Management (ISM) points in its latest monthly notes to solid new orders and rising prices for personal services, which augurs well as a signal of rising personal consumer spending.
In this favorable economic context, 2 American companies stand out for their impressive growth figures: Authority Brands, which owns 14 dedicated brands ranging from plumbing to pool maintenance, saw its sales increase by 30% in 2022. Restore, which owns cryotherapy centers in 4 corners of the United States, saw its sales grow by 50% in 2022.
Authority Brands, the residential services specialist in North America
Founded in 1966 and based in Maryland, Authority Brands is built around 14 iconic brands operating in distinct and varied fields ranging from pool repair to home care for the elderly, lawn care and plumbing.
The home services market has been growing steadily for years, driven by an aging population, an increase in the number of dual-income households and a growing number of homeowners. The sector is also highly resilient in times of crisis (particularly for essential services, which account for around 60% of Authority Brands' offering).
Originally called The Cleaning Authority, the company built its growth through numerous acquisitions: Homewatch CareGivers, America's Swimming Pool Company, Mosquito Squad. The group, now known as Authority Brands, consolidated in 2019 with 3 new acquisitions, then 2 new ones in 2020 ... Authority Brands now has 14 market-leading brands.
Restore, #1 in cryotherapy in the United States
As we have seen, the homecare market is experiencing phenomenal growth across the Atlantic. The same is true of beauty care and the wellness sector, particularly since the end of the Covid-19 crisis and the advent of consumers who want to take care of their bodies and minds.
In recent years, Restore has established itself in North America as the benchmark brand for well-being, thanks to its range of treatments based on "hyperstimulation" of the body's natural defense mechanisms. Its various formulas are among the most affordable on the market. Treatments offered at Restore centers range from cryotherapy (cold slimming) to NAD injections (stress reduction).
Its story began in 2015, when Jim Donnelly and Steve Welch were training for a triathlon. The two friends began using cryotherapy for muscle recovery. Adepts of this method, they decided to open their own clinic in Austin, with the aim of offering their customers a warm and pleasant experience.
Thanks to the success of their Austin facility, in 2017 they began opening other clinics in Texas, coupled with expansion into the states of Virginia and Connecticut. By 2021, the company had 115 locations across the U.S., and secured an investment of General Atlantic, becoming part of Vintage Altaroc Odyssey 2021. By 2024, the company expects to have 500 centers throughout the United States.
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