The economy - Contractor Talk - Professional Construction and Remodeling Forum

BULLDOG-TILE · 01-14-2009, 05:48 PM

I'm very interested in how the economy is effecting your business? I've had mine for 21 yrs. and have never seen a drop like this.

rusty baker · 01-14-2009, 07:05 PM

I have owned 2 businesses, one for 35 years, the other for 20. They have both been declining since 2001. But really bad since 2005.

**Floorwizard** · 01-14-2009, 07:48 PM

10% drop at the worst. All other years were record highs so we can handle a bit of a decrease speciallly when you raise your profit margin.

How do you like the cold? Still room up here....

Mike Costello · 01-14-2009, 09:15 PM

I would brave the cold for a steady flow of work. We usually have a bit of a slow down this time of year but this year is epic.

The problem is the buisness has gotten so watered down. It use to be, the only place to get flooring was your nieghbrhood flooring store. With the advent of the box store and online shopping and the liquidator, there a a million places to get flooring.

I use to know just about all the installers in my area. we were actually a tight knit group at one time. Now it seems anyone with a vanand a kicker is an installer

nlgutters · 01-14-2009, 09:36 PM

Quote:

Originally Posted by Mike Costello

I would brave the cold for a steady flow of work. We usually have a bit of a slow down this time of year but this year is epic.

The problem is the buisness has gotten so watered down. It use to be, the only place to get flooring was your nieghbrhood flooring store. With the advent of the box store and online shopping and the liquidator, there a a million places to get flooring.

I use to know just about all the installers in my area. we were actually a tight knit group at one time. Now it seems anyone with a vanand a kicker is an installer

I was just thinking the same thing the other day. And i see a lot more guys advertsing for the smaller jobs like flooring.

Floordude · 01-15-2009, 12:29 AM

It is still going pretty strong here. We have not been as affected as other cities in the state.

Cdat · 01-15-2009, 07:42 AM

I took a large chunk of my savings and purchased a number of higher end specialty machines and charge local cabinet makers, trim guys and flooring guys to use them. Basically a small mill. It has helped me to be more profitable by decreasing my build time. Also, finding really great deals on some nice lots of wood. Now, I get to travel more to find those great deals.

Mike Costello · 01-15-2009, 07:57 AM

Quote:

Originally Posted by Cdat

I took a large chunk of my savings and purchased a number of higher end specialty machines and charge local cabinet makers, trim guys and flooring guys to use them. Basically a small mill. It has helped me to be more profitable by decreasing my build time. Also, finding really great deals on some nice lots of wood. Now, I get to travel more to find those great deals.

All due respect, what does that have to do with the flooring trade?

Cdat · 01-15-2009, 11:07 AM

Quote:

Originally Posted by Mike Costello

All due respect, what does that have to do with the flooring trade?

Easily. I branched out. That is how I'm surviving the current situation.

neolitic · 01-15-2009, 11:20 AM

Quote:

Originally Posted by Floordude

It is still going pretty strong here. We have not been as affected as other cities in the state.

It helps when you have state
government and universities
to buck up the employment
market in your town.

**Floorwizard** · 01-15-2009, 12:18 PM

Hooking up with insurance companies has sure supplimented my income and kept me busy.

Norrrrrrrrrrrrm · 01-15-2009, 01:26 PM

I do sub work for a company installing their tiles in the bathroom jobs they sell. I used to do do at least two a month. That was enough to cover my mortgage. Now I have done one tiny floor in four months. OUCH!!

strathd · 01-15-2009, 01:34 PM

Framed 24 to 36 houses a year till 2 years ago. Framed 4 in 08

**Floorwizard** · 01-15-2009, 02:11 PM

The best advice in these times is to change things up.
To do better this year you have to do things different than last year.
Doing the same thing and expecting different results is insane.

I know this advice is more core related and not specific, but I thought it was worth a mention.

SelfContract · 01-15-2009, 02:29 PM

Multiple jobs, multiple skills, multiple knowledge, multiple advertising, with multi-flexible creative thinking, etc.. to survive in this bad economy.

**Floorwizard** · 01-15-2009, 03:34 PM

A closed mind will bring a closed bank account.

inthegutter · 01-15-2009, 05:00 PM

our busiest time of year came (fall) and the work didn't pick up. First time in five years.

Norrrrrrrrrrrrm · 01-15-2009, 05:21 PM

I had been busy for a year straight. I even had to turn work away. As in the previous post, end fall came and the phone is not ring to much. I have made calls and so on. It is just slow time for everyone here. The upside is a have multiple skills which still gets me work. Just not as much as I want. The upside is I have free time to work on my house. Just don't have money to buy cool things for it!

jarvis design · 01-16-2009, 10:10 AM

Up here in Canada, we have seen the new housing market finally slow down after years of record levels, but, renovation spending seems to be keeping pace. The one challange I think established business's are going to face are all the new "contractors" in the market place who worked in a factory, now laid off, have a few tools, and are calling themselves renovators. I lost a job just last week because of this - although I wasn't overly excited about the job in the first place as the only concern for these people was to do the job as cheap as possible. I think I did myself in when I refused to tile onto green drywall as a way to save money. I'm sure there contractor of choice will do what he is told to do!!

For the most part, I will be still be advising people to use the proper materials and installation methods for their projects. After all, many people who were thinking of selling are putting it off until the market picks up again. Why put crap in and then have to redo it in a few years when you want to sell your house?

floorinstall · 01-18-2009, 02:48 PM

A lot of our work in the panhandle comes in the off tourist season when the condos are not rented. This year there has not been much of that work to do and what there is people are doing it for next to nothing. I am losing bids that I would normally get because there are guys doing tile and hardwood installs for $1.00 sqft. The only thing keeping us going right now is the commercial because the hacks are not legal and can't bid on the work. Even that has gotten tougher because a lot of out of town contractors are bidding on it too. I guess my dad was right, The secret is not making more but learning to live on less until this economy turns around and I am sure it will.