Drawing on data from 3,271 UK trade businesses, analysis by Tradify, which provides job management software for tradespeople, reveals that tradespeople are successfully scaling from sole traders into sizeable companies employing teams and generating multi-million-pound revenues.
The new Tradify research suggests some are building trade businesses that generate up to £2 million in annual revenue.
Overall, average revenue across the six major trades analysed has increased 14% year-on-year.
Tradify’s latest figures show HVAC & Refrigeration businesses generated the highest average annual revenue this year at £428,538, while Carpentry & Renovations recorded the strongest year-on-year growth.
Among larger businesses employing 13 or more staff, average annual revenue exceeded £2 million in both Electrical & AV (£2.09m) and Property Maintenance (£2.02m), while Plumbing & Gas businesses approached the same milestone (£1.99m).
Sole traders generated more than £100,000 annually across every trade analysed, with HVAC & Refrigeration sole traders averaging £184,566.
Commenting on the findings, Michael Steckler (pictured), CEO, Tradify, said: “For a long time, university has been seen as the traditional route to a successful career. But it’s far from the only option. Our data shows tradespeople across the UK building multi-million-pound businesses, creating jobs, and growing successful companies from the ground up.
“The trades shouldn’t be seen as an alternative to academic success, but as another route to achieving real financial success – one that can lead not only to skilled employment, but to business ownership and long-term growth”
For more information and full report insights please visit the Tradify website
Image: Tradify
