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2009 Construction Outlook
01/08/2009 - By Admin The Bad News
We all felt it or least knew it was coming. Construction industries are slated to grow at half the rate of professional and service industries for the near future, although neither is at a breakneck pace. Repairing is the type of work that historically does well in a recession. With no money for new or improved things like additions, kitchens, carpet, landscaping, etc. people instead only pay for things that break or really need to be fixed.
The Upside
There is more repair work being offered. You may prefer to do new kitchens or fine wood work but in tough times you have to go where the work is and thats repairs.
People are also spending money to save money. Insulation, pellet stoves, better windows, alternative energy all get taken much more seriously when people are strapped. They see the value in the investment much more clearly when times are tough and will spend the money to try and ease the burden in the long run.
The Future
A lot of experts are predicting that "green" jobs will grow the fastest, as soon as this year. Environmental impact is on everyone mind these days more so than ever before. Not only are people looking to go green to save money long term, but the social and environmental aspects are weighing more heavily.
The availability of newer and more affordable alternatives make it easier for people to see the long term saving they gain for themselves while simultaneously doing good.
Suggestions
Get into some side jobs you may not normally do such as repairs and green work.
When you do a repair, do it like its your finest work and make sure the homeowner knows that your real trade is new or custom work. When that homeowner sees what you can do with a hole in the wall you will have a customer when things get better and they are spending money on additions again.
Competition is going to get fierce! You need to be better than the next guy. Homeowners with tight budgets are going to pay closer attention to what they pay for and will not accept anything less than what they paid for.
Increase the efficiency of you marketing. That means targeting the people who are actually looking for you for as little money as possible. Things like billboards, newspaper ads, and radio are referred to as mass marketing.
They are like throwing a bunch of mud on the wall and hoping it will stick. Target marketing attempts to spend every dollar marketing to the right person at the right time. Spending less to get more is what the survivors will do till the recession is over.
National Contractors Rating Bureau, LLC and www.TrueBlueContractors.com can help with all of this for less than a coffee a day!
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