Investing In Flood Restoration Business

As 2023 rainy season kicks in, coupled with global warning, investing in flood restoration would be a very lucrative job.

Tackling devastating effects of flood by flood restoration services will also create jobs for hundreds of youths in the country.

Although most states are flood prone states, however, 25 states: Rivers, Bayelsa, Cross River, Delta, Edo, Lagos, Ogun, Ondo, Adamawa, Abia, Akwa Ibom, Anambra, Bauchi, Benue, Ebonyi, Ekiti, Gombe, Imo, Jigawa, Kaduna, Kano, Kebbi, Kwara, Nasarawa, Osun, Oyo, Sokoto, Taraba, Yobe, Zamfara and the Federal Capital Territory are more prone to flooding.

Heavy rainfall over a short period of time can cause flash floods or moderate rainfall, over several days can overflow rivers or dams. So, investing in a business that caters for flood victims, will generate huge income. 

According to an expert in flood restoration, Mr Busayo Kayode, based in Kogi State but with an office in Lagos, starting the work requires determination and passion to offer service in helping fellow mankind.

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Moreover, Kayode mentioned some tools which one must have in order to start the flood restoration work. “If you want to start doing flood restoration, you need liability Insurance, Bonding Coverage, Business License, Water Restoration Equipment, Commercial Truck or Van, Moisture Meters, Air Movers/Centrifugal Fans, Air Scrubbers/Negative Air Machine, Dehumidifiers.”

Another expert in flood restoration business, Mr Kamuru Sholadeen, said, “Since one may need to take quick action from the moment their property is affected by flood water, they should act swiftly to minimise the potential lasting effects of the damage. Flood restoration is the process of removing the water, decontaminating the property, and making it safe for repairs.” 

According to him, “Anyone who is considering opening a commercial restoration company, should carry out research beforehand. When looking at what it takes to start a restoration business, most people don’t consider all the costs involved in running one; they only think about startup fees and equipment costs. 

“What are the costs of starting a restoration business? You’ll need to be able to answer this question before you get started, so you don’t start taking on more than you can afford.”

Moreover he said, “Remember that you will need: a truck for transporting equipment and materials, portable and moveable power generator, ladders, boots, gloves, and safety gear (like eye protection and dust masks), chemicals for cleaning up water damage or mold and other basic supplies.

“Don’t forget to include insurance costs for your vehicles. You will need general business insurance to rent workspace. This type of insurance will cover liability claims that may arise from accidents and use of equipment like power saws.

“You may need to hire employees depending on the size and scope of your restoration business. Employees can be paid hourly or monthly, though you’ll want to set up a payment system that works best for you and your needs.”