9% of businesses reach $1M. In the trades, 33% do. The opportunity is real — but the odds demand strategy.
Across all industries, approximately 9% of businesses ever reach one million dollars in annual revenue. In the skilled trades, approximately 33% reach that milestone. One in three — nearly four times the national average.
But 33% also means 67% do not. The ones who make it are not necessarily the most skilled. They are the ones who learned the business side on top of the trade skills. The other 67% tried to build a business on trade skill alone.
In the earliest stage, a solo operator typically generates $80,000-$150,000 in revenue. After direct costs, the owner's take-home might be $40,000-$70,000. That is often less than they earned as an employee. This is where most trade businesses fail — not because there is no work, but because the owner priced incorrectly, spent the tax money, or never built reserves.
The question is whether you will prepare for the opportunity the way the 33% did, or jump into it the way the 67% did. The difference is preparation.