NASHVILLE, TN--(Marketwire - Apr 12, 2012) - As the nation continues to pull itself out of recession, demand grows for reliable, affordable ways to maintain surfaces in the country's homes.
Market data this year have revealed some signs that the nation's housing market, depressed and stagnant since its 2008 collapse, is slowly recovering. The number of Americans who signed contracts in January to buy homes rose to its highest level in nearly two years, and buyer interest -- fueled by low home prices and record-low interest rates -- is at its highest point in several years.
"As the housing market goes, so goes our business, because we pride ourselves on keeping the surfaces in homes clean and healthy," said Dan Tarantin, president and CEO of Nashville-based Harris Research Inc., which owns Chem-Dry, the nation's leading carpet cleaner. "The market's recovery would be great news for our 2,300 domestic franchise owners, who have been doing great work under difficult circumstances since '08."
The American surface cleaning industry is huge and growing with the population. Carpet is the most common flooring surface. The industry's gross revenues have risen from $1.8 billion in 1988 to $3.7 billion last year, and it's expected to gross $4.4 billion by 2015.
Since 2000, other floor surfaces, such as ceramic tile, have become more common, opening opportunities for companies to diversify their services. Chem-Dry has specialized in carpet cleaning since its founding in the 1970s, but it's branching increasingly into other services, such as cleaning upholstery, stone, tile and grout and area rugs, plus water damage restoration.
Founded in 1977 and based in Nashville, Tenn., Chem-Dry is the nation's leading cleaner of carpet and other household and office surfaces. It uses a patented method of hot carbonated water extraction that provides a drier, cleaner, healthier clean, and its highly ranked franchise system, which consists of more than 3,500 units, extends worldwide. Chem-Dry has maintained a high ranking on Entrepreneur magazine's annual Franchise 500 list for 24 consecutive years. For more information, see www.chemdry.com.
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