I have a small remodeling business in arizona (phoenix), and as of april this year work came to an almost stand still as the two investors we were working with decided to sell everything "as is"...(we were actually right in the middle of a complete remodel when the investor said to pack it up he sold the place as is..)..We have been scrambling ever since to come up with work.. a couple small jobs here and there..At any rate, if there is anyone out there who has some ideas as to how I can find new investors who have need of a good contractor, or even homeowners who need small repairs or big projects done I would really appriciate the info and / or help... we really need work bad...
Eggs in one basket is a hard lesson to learn.:o I have been in your shoes and walked all those construction miles in one house.
You need to see it comming before it happens and set your company up for the slow periods, they happen every ten years in the cycle up here.
Diversification for when you see the change comming also helps.
I started to look into home inspections after 20 years of building, and remodeling. Then that lead to training because of all the info from my past work. Which leads to other oportunities to be hired for speaking engagements.
I also have started energy audits which will help folks with decisions on the homes that are old and new.
Now I am interested in building again because of all the junk on the market which is very inefficient.
So don't despair and wait for other people in slow times, you need to grab your business by the horns and learn as much as you can about where you are going, sometimes it is hard to change direction, but if you do not, you will end up doing a job working for someone else you will not like.
Mike, we are a roofing contractor in middle Tn and we were about 50% re-roof and 50% new construction on upper end $800,00-10 million dollar houses. Guess what stopped, new construction. InspectorD hit the nail with eggs in one basket. I would suggest networking with some of the other trades people that you have meet and putting your name out. I refer a lot of folks that I know that will do good work and is dependable. Try a listing in the weekly or monthly papers, they are cheap. Go to the building supply stores, they usually have a board where people post help wanted or services offered. Make some signs and tack them to some telephone poles. I see them all the time, but the best way to get new business is referrals from previous customers. We get more business this way than any other we have tried and better customers than the phone book tire kickers.
Hang in there, things will cycle and improve.
The economy is on the upswing now. It make take some time before it's firing on all cylinders again, but at least things are getting better instead of worse.
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