2025 State of the Trades Industry Survey

Businesses In The Trades Are Financially Stronger—But Still Structurally Fragile

Financial confidence is rising across the trades, but the data tells a deeper story: half of owners lack reliable lead generation, most aren’t tracking conversions, many have no second-in-command, and over half have no exit or succession plan.

The industry is growing, but the foundations remain vulnerable.

Download Full Survey Report

Key Findings at a Glance

Measure20242025
Owners financially “better off” than the prior year33%52.2%
Owners expecting to be “better off” in the next 12 months55.4%81.5%
Owners expecting worse conditions in the next 12 months13.6%4.6%

The 2025 survey added a new 12-point operational maturity assessment. While many owners rated strengths like revenue stability, accurate bookkeeping, and work-life balance, several foundational weaknesses surfaced repeatedly. As demonstrated below, the survey highlights critical weaknesses across the trades:

Measure2025
Have no exit or succession plan
54%
Do not track lead conversions consistently52%
Lack a reliable lead generation system50%
Don’t know their business value48%
Can’t step away from daily operations1 in 3
Have no second-in-command42%

“Owners feel stable, motivated, and ready to grow, but the data also shows that many businesses still lack the systems and leadership needed to support that growth.”
—John Bartlett, Founder, Brentwood Growth

A Strong but Fragile Recovery

2025 was a turning point. On one hand, stabilization in demand and improved profit outlooks are giving owners breathing room. On the other, many companies still lack the structure needed to scale, grow value, or reduce owner dependence.

For businesses in the trades to move from good “surviving” businesses to premium “scalable enterprises,” companies need to build leadership, standard operating procedures, lead-generation engines, and a long-term valuation strategy.

What This Means

  • Demand is recovering and confidence is rising, but markets change.
  • Inflation, labor shortages, and supply constraints remain real risks.
  • Businesses built around an owner are vulnerable to burnout, turnover, or unplanned exits.
  • Companies with strong systems and leadership will command higher value when the time comes to sell or pass on ownership.
  • For trades owners this is a moment to build long-term optionality.

“Owners deserve the freedom that comes from a self-managing company. When the business does not rely on you to function, you finally gain choices — exit, succession, or stepping back. And buyers are willing to pay more for it.”

—John Bartlett