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Restoration 1 Franchise Owner Announces Growth Investment from Private Equity

February 16, 2023 6:47 am

Scott Whitaker, owner of Restoration 1 Spokane, Wash., has partnered with Traction Capital, an investment firm dedicated to helping entrepreneurs in the Western U.S. Private equity firms have recently begun investing as franchisees in the restoration industry, signaling a new era of business growth and opportunity. The influx of funds across the industry will allow local businesses to expand their services as well as provide more resources for those impacted by natural disasters. Whitaker opened his first Restoration 1 franchise in 2017 while serving as Captain of the Spokane Valley Fire Department. His goal

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Why Online Reviews Are a Critical Ingredient to Your Business Growth

February 15, 2023 10:26 am

We’ve officially reached the time of year when business owners ask themselves this million-dollar question: “What strategies will we use to grow next year?” Successful business owners ask themselves that question every day, but as a new year approaches, the urgency to find the answer accelerates. And it’s getting more apparent by the day that business owners will need to find those answers while navigating uncertain economic times and recession concerns.  In 2023, the ability to capture market share will become critical. One of the best ways to proactively grow, and play defense against

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Dear David: Should I Buy Insurance From An Independent Broker or On An App?

February 13, 2023 10:56 pm

Dear David,  I buy insurance from an independent broker. Recently, however, I have seen colleagues buy insurance directly from insurers on an app. Which do you recommend? Dear Shopping,  Direct-buy insurance, which is purchased without using a broker, can be quick, convenient, and competitively priced. However, there are significant advantages to buying insurance through an independent broker.  First, buying the right policy is difficult unless you understand all of your risks, coverages, limits, gaps, and exclusions. To illustrate the point, consider the people encountered who have a water back-up endorsement vs those who do

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The Value of Restoring an Appliance Verses Replacing It

February 13, 2023 10:14 pm

When a home or business is impacted by a disaster, it’s common for appliances to be damaged. In these cases, the decision to restore or replace appliances is not as straightforward as it sounds. While replacing appliances may seem like the easiest solution, restoring them can often provide greater value to the insured. Restoring appliances can offer several benefits compared to replacing them: Cost savings: Restoring an appliance can often cost much less than buying a new one. This is particularly true for high-end or specialty appliances that may be difficult to replace.  Click

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Organizational Structure & Profitability | Restoration Master Class Season 2 Debut!

February 8, 2023 7:07 am

Welcome to season two of the Restoration Master Class! The 2023 Master Class is sponsored by Encircle, and focused entirely on profitability! Two times each month, we will drop quick, new episodes on different topics related to profitability – with different industry guests! In episode 1, Trish Wall from SERVPRO Team Wall shares lessons and wisdom on creating an organizational structure that can lead to increased profitability! Find all Master Class episodes here. Or search “Restoration Master Class” on your favorite podcast platform!    

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Verisk and Encircle Announce Integration to Bridge the Information Gap Between Field Service Providers and Insurance Claims Professionals

February 7, 2023 7:26 am

A new integration between Verisk’s property estimating solutions and Encircle’s mobile app for field documentation enables property restorers to capture critical data on a loss and easily share that information with insurance claims professionals. Verisk (Nasdaq: VRSK) is a leading global data analytics provider. As an all-in-one field documentation platform, Encircle makes the collection of critical property loss information easy for field service teams. Restorers using Encircle’s mobile app can capture photos, notes, and measurements on site and create reports that tell the story of the loss in just minutes. “Encircle delivers trusted data

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The 3-Day Drying Myth – Revisited

February 6, 2023 10:03 pm

To begin, let’s try to define what we mean about the 3-Day Drying concept. Essentially, this is a mindset where some believe nearly all water damage restoration projects can be returned to pre-loss moisture content in 3-days or less. There are a ton of theories regarding the origin of this – some more plausible than others as you would imagine – and, at least to my knowledge, none fully confirmed. Is the origin important? I think not, but what is important, regardless of origin, is the fact that the myth is still something professional

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You’ve Mentioned a Sales ‘Transaction’ vs. ‘Transition’, What’s the Difference?  

February 6, 2023 8:22 pm

Q: You’ve mentioned a sales ‘transaction’ vs. ‘transition’, what’s the difference?   JT says: Transaction:  This is the business side of any sale-  NDA’s, LOI’s & deal terms, negotiations, non-competes, working capital, legal documentation, wealth preservation, etc. These pieces are always present.     Transition:  This is the personal/emotional side of any sale. (*Ignoring these variables allows anxiety/fear to creep in and the ‘transaction’ will be jeopardized, guaranteed.)  These variables consider overall emotional preparedness, desire for answers/planning, family dynamics surrounding a sale, letting go of the status and perks that accompany ownership, relinquishing control of ‘your

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Important Tips for Restorers Responding to Hurricanes

February 2, 2023 8:00 am

Disclaimer: The following information has been developed to assist restoration contractors who are responding to hurricane-related restoration work. All users of this information are encouraged to refer to applicable federal, state/provincial, and local authorities having jurisdiction over the subjects addressed within this document. The RIA makes no representation or warranty as to, and is not responsible for, the accuracy, or validity of the information, or its application by any recipient of this document. The authors do not warrant that the information in this document is free of errors and the entire risk of the

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New Year, New You

February 1, 2023 8:00 am

I will be the first to admit, I loathe the whole “New Year, New You” thing. Don’t get me wrong, I am all about goals, growth, and self-improvement. However, it’s very unlikely someone is going to completely reinvent themselves in the new year. As humans, we are far more successful working on one or two areas of improvement at a time, than trying to redo our whole lives.  While I am certainly no psychologist, I can testify that if I run too hard at too many things (those three words being key) for too

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