Tradie shortage uncovers a "Gold Mine" in niche markets
- Written by Hannah Heyen
With Australia in the midst of the worst tradie shortage in years, a gold mine opportunity has opened up for tradies to earn premium rates for a number of jobs. Data released by find-a-tradie site ServiceSeeking.com.au recorded a high number of specific home improvement jobs, but a lack of qualified tradies to complete them.
On average, jobs listed on ServiceSeeking.com.au receive 4 quotes, however there are a number of specific categories that aren't getting filled. These jobs are niche and often require specialised skills, yet they represent an opportunity for tradies to net serious cash while supply and demand remain out of kilter. If the housing construction boom wasn’t enough to drive this imbalance in demand and supply, apprenticeships are now at their lowest since 2004 according to figures released by the Mitchell Institute.
Jeremy Levitt, CEO of ServiceSeeking says: "This gap in the market offers a great opportunity for tradies looking to grow their business. The few tradies that do work in these industries are never short of work and charge premium prices as customers grow desperate to get them done."
The percentage of niche jobs in FY17 with no tradies:
- Bathtub resurfacing (69%)
- Glass installation (64%)
- Staircase jobs (64%)
- Garage, shed and carport installation (60%)
- Stonework and masonry jobs (56%)
How much money is on the table?
In FY17 there were 7,729 jobs netting $4.9 million in the top ten under supplied job categories alone, that passed by due to a lack of qualified tradies. People agree that there is good money to be made. A recent survey conducted by ServiceSeeking.com.au revealed that 75% of Australians believe that going straight into a trade after high school gives children more of a financial head-start in life versus going to University.
Highest paid niche Jobs in FY17:
- Stonework and Masonry jobs make an average of $3,438 per job
- Cabinet-making make an average of $1,576 per job
- Insulation installation make an average of $1,416 per job
- Carpet laying and installation make an average of $1,199 per job
The full data set is below:
|
Niche Category |
Missed revenue (FY17) |
Average value per job |
% of jobs with no tradies |
|
Stonework and Masonry |
$996,875 |
$3,438 |
56% |
|
Cabinetmaking |
$898,149 |
$1,576 |
39% |
|
Garages, sheds and carports |
$717,723 |
$643 |
60% |
|
Insulation Installation |
$645,641 |
$1,416 |
55% |
|
Staircases |
$504,000 |
$2,400 |
63% |
|
Carpet laying and Installation |
$404,172 |
$1,199 |
41% |
|
Bathtub Resurfacing |
$236,000 |
$500 |
69% |
|
Tinting and films |
$122,563 |
$360 |
46% |
|
Fridge repair |
$68,969 |
$146 |
55% |
|
Glass Installation |
$30,800 |
$560 |
64% |
|
Total missed revenue: |
$4,970,038 |
||
This data was derived from over 52,000 quotes submitted by customers to ServiceSeeking.com.au over FY17.
Scott Morrison
