In 2010, the Home Improvement Research Institute (HIRI) reported the first positive growth numbers for the home improvement industry in several years. Two years later, that growth is continuing to rise; this year it is expected to reach 5 percent. Throughout the recession, many professionals struggled to make ends meet. Yet while as many businesses didn’t make it, even more were able to pull through.
When the jobs aren’t coming in, the bills are piling up and customers can’t pay for completed jobs, home improvement professionals need to make tough decisions about how they run their business. Whether it means working extra hours, laying off workers, or cutting back on benefits, surviving a recession is a challenge.
Why We’re Asking:
While many professionals made hard decisions that they hope to never repeat, others may have been forced into unique and productive solutions that actually improved their business with few negative consequences. Desperate times that call for creative measures, and we want to hear more about those solutions.
Our experts wouldn’t be here to contribute if they didn’t survive the recession. They knew how to adjust when necessary and now we’re looking to find out how they did it.
So experts, it’s time to weigh in:
How did the recession affect your business?
How did your business weather the recession?
How did you change the way you do business?
How did you cut costs, if necessary?
As the recession picks up, will you go back to your old ways, or will you incorporate new practices into your work?
Do you sense that the economy is getting better? Worse?
Experts, post your answers in the comment field below!