Every year, Lawn & Landscape releases its State of the Industry report, highlighting projected trends and the financial health of the industry.
To read the full report, click here.
The industry saw quite a jump in revenue in 2022, according to our 2023 State of the Industry survey. Last year’s research showed mean revenue was $1.74 million, but that grew to $2.32 million in this year’s report.
The median revenue in 2021 was $604,000 and that number moved to $1 million in this year’s report, making it the first time in recent memory that both numbers were $1 million or greater. In this year’s report, the number of companies reporting more than a million in revenue was 48%, compared to last year’s report of 39%. Companies larger than $7 million grew from 9% to 15%.
With the number of mergers and acquisitions the industry has seen, that’s not surprising. Speaking of M&A activity, the number of people approached about selling their business has grown from 43% to 50%.
For this report, we broke down the challenges and triumphs of landscapers by region. In the West, we saw how a lot was going right out on the left coast. Contractors down South reported some difficulties dealing with prices and politics. In the Midwest, it was all about weathering the storms of the summer season. And all the way out East, we saw how contractors were keeping things current on the coast.
How does this stack up with last year?
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