ECN Forum Forums General Topics of the Trade General Discussion Area Is the economy affecting the contractors?

Is the sluggish economy affecting the work load or pricing of the electrical contractors?

If so, how do you combat that? more hours? lower prices?

I have worked as an industrial maintenance electrician most of my career but someday hope to own my own small business contracting. I was just curious about the ups and downs and how small businesses cope.



[This message has been edited by Winchester EE (edited 08-16-2003).]

What sluggish economy?

We've never been busier and our prices have never been higher.

I don't know any unemployeed people and the applicants for our job openings are the bottom of the barrel. Very hard to find qualified help. That tells me that the other contractors are in the same boat.

More hours and lower prices would be a hobby not a business, and not that good of a hobby.
Don't forget to ask all your suppliers to also lower prices, material, insurance, phone, and all your overhead expenses.I don't think you will have much luck getting prices reduced. So why would you want to lower yours. As for hours worked, with all your time invested to learn the trade and stay current, your hours have value.

[This message has been edited by LK (edited 08-18-2003).]

I might start my own business in another year and I'm probing around for for some 'been there, done that' advice.


Thanks for the good advice.

If you have slowed down could you raise your price so that you will make the same amount working less? I certainly wouldn't lower them.

"As for hours worked, with all your time invested to learn the trade and stay current, your hours have value."

EXCELLENT response LK! I couldn't agree with you more. I'm sure we have all worked with some electricians that are worth twice their wage while others aren't worth half! The electricians that make every effort to increase their knowledge are inevitably the same people that make FULL use of their "clocked-in" time.