ECN Forum Forums General Topics of the Trade Business Related Discussion How is 2010 shaping up for you?

Very weak the last couple of months. A little short term improvement with some of the wind damage and generator sales. Hanging in there.

just caled another tech back to work monday,full speed ahead and dam the torpedos.

this is yr 12 on my own, and definitely the worst one yet. I'm thinking of going 'green' here. I know it's very politisized, but regardless of one's politics, there is business to be had. For instance the Vermont senate voted to have Yankee nuke shut down in '12, so there's going to be one heck of a rate hike comming....etc etc....

~S~

the warm weather and tax refunds have helped. The phone is ringing again and we are booking work.

In the last 3 years I've worked for 12 general contractors. Recently I checked their license status with the Contractors State License Board. Every single one has had their license revoked or suspended.

The life expectancy of a GC is normally 5 years but this recession has really cleaned out the industry. Since I primarily work for general contractors this means I'm essentially out of business.

Tight credit and lack of home equity means that homeowners will for at least the next 3 or 4 years be unable to finance remodels or additions.

The massive inventory of vacant homes means the residential new construction market will not return for another 2 years.

Most economists expect the recession to continue through 2011 and into 2012 before recovering and many are saying the the recovery will not include the construction industry.

My wife is a well paid scientist with a 6 figure income. For the last 2 years she has funded $40,000 into marketing efforts for my business that has essentially resulted in zero sales.

Last week a potential customer asked what I would charge to come out and replace a Zinsco single pole 20 amp breaker (the handle had snapped off). I know the breaker is about $25 so I quoted a total price of $75. He asked "why so high?" and said he had a price from another electrician for $40.

The golden age of electrical contracting is over. I'm spending all my new found leisure time riding bicycles, lifting weights and will be starting college at the age of 53 this June.

Sometimes we must learn the hard way that electrical contracting takes a greater skill set than just being able to read the code and twist wires.

I have said this before and I will bring it up again. There are plenty of HOAs and gated communities who still have money and are trying to upgrade their communities. I understand that may seem daunting but if you can find HOAs with decent site managers the checks cash and the work can be steady.
This might be a bridge until the building business recovers. It is the kind of business where word of mouth between these various community managers is your best advertising.

The fact of the matter is, economists claimed this was an L shaphed recession over a yr ago. We've outsourced most manufacturing due to free trade, and the only thing that's kept us going here is that we are a 70% service GDP.

The disparity now is approaching the gilded age, so expecting other factors to follow suit isn't a stretch.

An inflationary cycle would be one element to consider in our near future. This hidden tax can be a healing phenomenon for our general economy, yet that Zinco might go for $45 next yr, and all the contractual hullabaloo that goes with it

~S~

Obviously this snide response is meant to insinuate that due to some personal flaw or lack of business acumen, I am responsible for my current financial difficulties.

Your smug and condescending attitude is exactly what I expected from the brain trust of this forum. It would be difficult to over state the contempt I have for know-it-alls like you.

Did you read your own post? 12 contractors who all have been suspended or revoked, I check who I work for because what they do reflects on me I dont get blinded by dollar signs. 40 grand to promote your business with 0 return After the first grand Iwould be rethinking my strategy and sought help.It is easy to run a contracting business when times are good but when times are tight the entrpeneur will succeed were the tachnician will fail.sorry things didnt work out but not everyone is cut out to do this.