Can Construction Data Help Your Appliance Business?

construction data

The small home appliance market forecast¹ for 2020-2026 was released in February. The small home appliance market includes:

  • Food Preparation Appliances
  • Heating Appliances
  • Irons
  • Personal Care Appliances
  • Small Kitchen Appliances
  • Vacuum Cleaners

The large home appliance market² includes:

  • Air Conditioners
  • Kitchen Appliances
  • Refrigerators
  • Television
  • Washing Machines
  • Others

If you sell appliances – small or large – you’re part of the construction industry, which means construction data can help you develop marketing strategies for tough times. Like today.

Use Construction Data to Strategize

The coronavirus pandemic may not have caught us completely by surprise. But few could have predicted the global shut-down for many industries, including the appliance market.

Contractors and homeowners are concerned about income, but when the economy bounces back – and it will – construction data tools will have you poised to take control of your geographic market share.

Timing is Everything

The only thing that overcomes hard luck is hard work. -Harry Golden

It’s slow right now; that can be a good thing. Developing real-time leads using building permits information is going to give you a competitive edge. Now is the time for you to lay the foundation to better your business. Building reports generate construction data that can be sorted by project information such as: 

  • Address
  • Scheduled start date
  • Types/job specifics
  • Value

How to Boost Your Appliance-Industry Business

Your first task is to decide what type of construction data will best provide the information you require. Building permit tools are available. Plugging them in is your job.

Basic construction data information may give you exactly what you need. It will also tell you the top 15 general contractors you should cultivate in any area of the U.S. (It’s free.)

Sometimes, more really is more:

Powersearch – Choose from:

  • Architects
  • Contractors
  • Developer/tenants
  • Owner/builders
  • Owners

…Then select residential and/or commercial construction. Whether it’s in-the-works new builds or temporarily paused renovations, connect with decision-makers. Let them know when they’re ready for appliances, you’ll be ready.

Construction Monitor: 30 Years of Construction Data Development

Startups must work hard to overcome experienced competitors. Established companies work even harder to reinforce their brand.

We understand what your business needs to succeed, and we want to help. Construction Monitor is the flagship building permits reports information source, and we work hard to be the best.

Let us partner with you today for a better tomorrow.

¹https://www.marketwatch.com/press-release/small-home-appliance-market-2020-global-industry-analysis-size-share-growth-trends-key-players-and-forecast-to-2026-2020-02-06
²https://www.marketwatch.com/press-release/home-appliance-market-overview-2020–impact-of-industry-peers-driving-factors-distributors-wholesalers-end-use-sector-by-region-by-country-forecast-to-2026-2020-01-27

New Homes Being Built: 3 Things You Can Learn

new homes being built

Single-family starter-home buyers are intimidated by price tags even though financing options and rates are at lows that haven’t been seen in a very long time. Is there a solution to the high costs of new home investment? Yes. You can learn more about new homes being built using construction data.

Starter Homes May Be Big Business

“Smaller homes, smaller lots, smaller price tags,” says a Northwest Minnesota Housing Cooperative in Thief River Falls, Minnesota. If you are involved in the construction industry, this is a trend you’ll want to watch. And what do smaller home developments need?

  • Apartment-sized furniture
  • Durable, easy-cleaning flooring for families
  • Handicap bars for seniors
  • Push lawnmowers
  • Stackable washer/dryer combos

…and everything from neighborhood drycleaning to community healthcare facilities.

We will always need commercial or residential housing. If you sell or service almost any product, your business can benefit from construction industry knowledge. You have a lot to learn, and building permits reports can deliver what you need to know.

3 New Home Factors That Can Impact Your Business

Some of the construction industry forecasts released March 18, 2020 went out the window March 19, 2020. Okay, it wasn’t really that bad, but all bets are off while we wait out the most virulent pandemic in global history.

If you reviewed statistical information quarterly or even monthly, now is the time to switch to weekly analysis because that’s how fast U.S. markets are changing right now. Here are 3 factors that may tilt the economic scales for 2020 new home construction:

  1. “Made in the USA” products and materials are going to be more in-demand than ever before. Many consumers feel recent shortages were a result of imported goods. 
  2. New home builds vs. renovationsFebruary forecasts were dynamic, but closing businesses to reduce crowds has led to conservative investing. An economically challenged population may favor remodeling over new-home purchases.
  3. Slow housing starts data – Expect home sales to fall as much as 35% this spring. That’s a sign you need to cultivate alliances with builders and architects now.
    Consider mass mailings because snail-mail is getting more attention than ever before. Use construction data to target your market.

There’s no such thing as TMI (too much information). Construction Monitor has information about new homes being built that can shape your marketing strategy for success. Call 800-925-6085 or contact us today.

Using Construction Data for Your Cabinet Business

construction data for your cabinet business

Basic building permit reports are public information. Anyone can access them. It takes time – a great deal of time – to fine-tune the construction data your organization needs and can use.

By the time you have sorted trends, projections, new housing starts, renovation requests, historical data… You may be too tired to structure a marketing plan. And that’s the primary purpose of identifying construction data found in building permit reports: to give companies a competitive edge in any kind of economic environment.

Trends in the Cabinet Industry

The U.S. market for kitchen cabinets is estimated at $9.5 billion and estimated to reach $17.1 billion globally by 2021. The growth is being driven by “showpiece” kitchens for new housing starts. Age-in-place renovations for single-story homes should include easy-access cabinets with pull-out shelving and racks.

Building Permits Give You Acess to What, When, and Where

If your business is focused on selling cabinets for kitchens and baths, you should know your customer base. Also know this: Your customer base changes and in this fast-paced economy, 5-year plans are ridiculous. Savvy organizations access construction data monthly and weekly.

Large companies use local retailers to market their brand. If your cabinetry demographics are national, building permit reports can tell you which areas of the country need nurturing. Which areas of our country are building-boomers? Your retailers need up-to-date, local construction industry data to develop marketing campaigns.

Strong Foundations for Future Success

If you pride yourself on creation and artistry – you are a cabinet-maker – your customer base can be national as well. “I’ve got more business than I can handle,” may work for you today, but your granddaughter crafting alongside you may feel differently someday. Provide the local, state, and national building permit information she can evaluate and use when the time comes.

Local Contracts, Cabinetry Jobs

Even though most cabinet remodeling does not require building permits, knowing which areas are aging and prime for renovation is important to your business. Also, keep in mind as more homeowners need wifi ports and charging stations in kitchens, the need for business permits may change as the need for cabinetry/countertop electrical installations increases.

The construction industry depends on special trades and subcontractors, including your cabinet business. If you want the jobs, use construction data customized for your area and your company. Contact Construction Monitor.

What Can I Learn from Building Permit Reports?

building permit reports

It’s difficult to think of any industry that isn’t impacted by housing starts and residential or commercial development. Business magazine Entrepreneur¹ says any organization that depends on a physical location needs to evaluate customer availability, accessibility, and proximity to other businesses/services. Building permit reports provide that information.

Location, Location, Location

Even internet-based companies target their audiences based on geographics. You can sell vacuum cleaners in dust storms if you target the right market. (Buy-online DIY swimming pool kits don’t sell well in Antarctica.)

Building permit reports give you information about which locales are developing, remodeling, or stagnant. You can drill down U.S. housing starts and building permits by region (East, Midwest, North, South), state, county, city, subdivision development… These analytics can lead to informed, up-to-date decision-making.

Do you want to grow your nail salon business? Look for up-and-coming commercial and residential development. Is it time to franchise your unique bakery? High-traffic communities might be the places to examine. Building permit reports are the foundation for business development.

Types of Building Permit Reports

January 2020 saw the strongest gain in building permits² since September 2012. This information offers insight into key economic indicators: jobs, income levels, and tax rates.  

Building permit reports give companies information to increase income and profits:

  • Develop sales leads
  • Discover potentials for partnering
  • Identify competitors
  • Plan marketing strategies/campaigns

Types of building permit reports you can use include:

  • Agricultural buildings/sheds
  • Arts/museums
  • Banks
  • Cabins (private)
  • Churches
  • Commercial
  • Entertainment venues
  • Footing/foundations (commercial, residential)
  • Garages/carports
  • Grading/dust (commercial/residential)
  • Hospitals/healthcare facilities
  • Industrial manufacturing sites
  • Mobile homes
  • Motels/hotels
  • Office complexes
  • Parks/recreation sites
  • Personal care (commercial)
  • Private/public schools
  • Professional buildings
  • Remodeling/additions (commercial/residential)
  • Reroofs (commercial/residential)
  • Residential (single-family, duplexes, apartments/condos)
  • RV parks
  • Solar/alternative energy provider sites (commercial/residential)
  • Storage buildings
  • Swimming pools/spas
  • Transportation-related structures
  • Utility provider sites
  • Vehicle (auto/truck) sites for sales/service
  • Warehouses
  • Wholesale facilities

Successful Businesses Use Building Permit Data

Spring 2020 will be filled with profitable opportunities. You can be the company others look to for ideas and inspiration. Information is your differential. 

Let Construction Monitor explain more about construction data and analytics customized for your business. Call 800-925-6085 or contact us today.

9 Things You Can Learn from Construction Spending

construction spending

Data – information – is available to everyone. Even if you feel confident you know your business, its goals, and your industry, it’s difficult to know which information sources can deliver usable facts and figures. Construction data, including building permits information, is pertinent to our companies as well as our industry. But there’s another source of information you should investigate: construction spending.

Construction Data; Construction Spending Statistics

“Construction spending” measures the amount of investment in new construction. U.S. public and private sector new-construction spending information is used for economic forecasts and financial decision-making. The Census Bureau studies the construction value-in-place (VIP) every month.

Construction spending estimates include costs of:

  • Architectural and engineering work
  • Contractors’ profits
  • Interest and taxes
  • Labor and materials
  • Overhead/miscellaneous

FYI: Construction Spending 2020-2026

Construction spending data has led to good construction forecasts for this year and beyond. However, doubts surrounding steel and other building material costs continue to be driven by tariff and supply uncertainties.

How You Can Use Construction Spending Information

If you think you’re a “small-time” company, then don’t bother evaluating U.S. construction data, including spending. And forget about following the global construction industry. That’s one way to guarantee your growth and profits remain small.

The only limitations you have are the business decisions you make. Here are two things you need to know:

  1. Timely, relevant construction industry information pertinent to where you work (your geography) is critical to your business.
  2. Global and national trends impact your local business.

Construction spending data can give you the information you need to:

  1. Assess monthly fixed costs (rent, salaries, utilities, etc.) vs. comparable businesses
  2. Improve your budget and money management, which:
    • Keeps costs in-line with projections
    • Leads to better decision-making for profit
    • Captures a more realistic idea of revenue potential
  3. Compare industry trends with local economic projections and building permit data
  4. Determine if your rates are competitive and reasonable
  5. Develop a concise business plan
  6. Evaluate direct cost expenses (project-related labor, materials, subcontractors)
  7. Evaluate industry trends
  8. Identify cash flow variances based on time of year and competition
  9. Reinforce planning/financial goals (and adjust when necessary)

Our Success Depends on Yours

Construction Monitor believes data-driven decisions are shaping the global market for every industry, including construction. Our mission is to provide construction analytics and information you need for success. Call 800-925-6085 (International callers 435-586-1205) or contact Construction Monitor to learn more.

10 Tips for Bidding on Construction Projects

bidding on construction projects

Subcontractors bidding for work on construction projects face a number of challenges to submit a winning proposal. Effective bidding requires confirming the client’s requirements and budget while also ensuring your costs and profit margin are fully covered. Overbidding risks losing the job to a low-balling competitor. Conversely, a bid that is below your actual expected costs eliminates profit potential.

Here are ten tips to increase your chances of a successful, profitable bid:

  1. Meet with or speak to the prospective client/contractor. Discuss requirements and what will be necessary to fulfill expectations.  
  2. If blueprints are available for the project, inspect them. If the job site is accessible, conduct a walk-through.
  3. Estimate the days involved to complete the work and look for special circumstances or complications that could impact the cost of getting the job done on schedule.
  4. Figure costs of materials and work hours involved as well as any other likely overhead. Allow for unexpected expenses. Estimate daily costs then multiply by the expected number of days to completion.
  5. Determine your preferred profit margin and add that figure into the total.
  6. The formal written bid must include name, business address, and other relevant contact info. Summarize the work to be done and state expected start and completion dates. Include payment terms as well as the terms of any warranty.
  7. Itemize all estimated costs for materials and labor. These figures may be subject to negotiation with the client, so allow for changes, if necessary. 
  8. Arrange for a meeting with the client to present the bid. Be prepared to verbally describe all details of your planned work. 
  9. Expect to negotiate terms, including completion time and costs, if required. Decide in advance what your negotiated limits will be.  
  10. Following the presentation, provide the prospective client with business cards. Arrange a follow-up call or other meeting to provide additional information or answer further questions.

Get an edge when bidding on construction projects by utilizing data from building permits. Contact the professionals at Construction Monitor for more information.

4 Ways to Use Building Permits

Building Permits

Few can predict the future, but economists try. U.S. economists watch building permit application trends very carefully. They review monthly statistics. Based on the number and types of building permits applied for by homeowners, land developers, and businesses, economists can reveal “economic indicators.”

Let’s say you’re considering expanding your flooring business. There has been a marked increase in single-family home building permits in one region just outside your service area.

You’ll cultivate the contractors and builders winning the new construction bids. But it might be worth your time and money to add a satellite center in an area that will be frequented by the new homeowners.

That’s one way to use building permits data to grow your business. Here are four more:

1. Competitive Analysis

If your business is doing more than it can handle, work that success and expand. If your competitor is getting the work you need, figure out why. Use building permits information to determine the relationships your competitors have with customers, builders, architects, and plumbing contractors. Analyze their strengths and weaknesses. Develop your marketing strategy to build upon your strengths and take advantage of their weaknesses.

2. Demand Generation

When building permits reports indicate remodeling business permits are dwindling (and your business depends on renovations and conversions), take advantage of the downtime to create demand. This is the time to educate buyers about what your business can do for them.

Substitute your product or service word in place of the word “it.”

One customer said, “I didn’t know I needed it until you told me how great it was. Then I wanted it.”

That’s demand generation.

3. Demographic Data

Where are your industry’s products/services most utilized in your locale, state, and in the country? Those areas are great places to be but using building permits information can give you the information edge: Where are the demographic areas that will soon need your services?

4. Opportunities and Risks

You may understand how building permits can reveal opportunities. With targeted analysis, you will also be able to pinpoint marked economic downturn and potential risks.

Call 800-925-6085 (international callers 435-586-1205) or contact Construction Monitor to discuss how up-to-date information can benefit your organization.

How to Find Construction Projects to Bid

construction projects to bid

If you haven’t read any horror stories lately, check out “The Successful Bid That Put the Contractor Out of Business.” You may need the cash flow and feel an obligation to keep good employees working, but if you don’t find the right construction projects to bid – and bid them the right way – you could be writing your own horror story. Or obituary.

Here are some ways to find construction projects to bid:

Double-Dip

“If you’re a general contractor (GC), you really should be pursuing jobs as a subcontractor,” says estimator pro Daniel Quindemil. He calls that double-dipping. He says you may not always get the job as a GC but you’ve got a good opportunity to get work through the bid-winning general contractor(s).

Get Out There and Look

You must either pound the pavement, hire your nephew, or use a lead-generation service. It is essential you get out there every week to find real-time leads. Which of your subcontractors have jobs in the pipeline? Find out what, where, and when.

Connect regularly with HOAs (homeowner associations) throughout your region. You want to be the first name they think of when renovations are needed. Some GCs calendar reminders to network with potential customers.

Fact: You should spend 80% of your time involved with sales and marketing and only 20% actually running your business.

Google It

You’d be surprised what you can learn from Monday-morning search-engine surfing. Let’s say you’re serving Marion and Hamilton counties in Indiana. You enter this search string:

New+real+estate+development+carmel+indiana+2020

Here are some leads you might generate:

…and more.

Lead-Generation Services

There are plenty of them out there and several are good. If your time and budget for resources are limited, utilize a low-cost comprehensive local information source.

You not only want up-to-date data, but you also want access to construction industry historical trends in your area. Building permit information is key to finding the right construction projects to bid.

Let us know how we can provide topical, relevant information customized for your business. Contact Construction Monitor to learn more.

Using Construction Data to Improve Your Website

construction data to improve your website

Construction data can help make your website more relevant and informational to your most likely prospective clients. Research shows interested customers don’t linger long on sites where products and services are not specific to the customer’s needs or locale.

Effectively prioritizing the information on a website helps generate maximum exposure and amplify sales potential. Utilizing construction data from building permits provides the raw information to accurately aim website content and attract the most suitable prospects.

Target your marketing

Data from building permits offers the opportunity to more accurately match services on your website to specific demands and/or a particular season. For example, building permit data can indicate particular areas where renovations and remodels are trending upward this spring. This information gives you an edge by enabling you to synchronize the information on your site to the rising demand in that specific area.

Localize specific services

Construction data can also pinpoint particular areas where certain services are increasing in demand. With accurate data, you’re empowered to target the site accordingly by emphasizing closely related services and products.

A spike in recent permits issued for water damage recovery might indicate areas where a market for structural repair and rehab of flood damage also exists. Increases in permits for installation of high-efficiency HVAC (heating, ventilation, air conditioning) and/or high-tech insulation retrofits could be a sign of increasing concern about local energy costs or environmental issues.

Track your competitors

Information about who’s getting what kind of work—and where—can be derived from permit data. If you learn contractors and other companies providing services similar to yours are thriving in a particular geographic zone or income level, that’s information you can use. For example, you can use such data to adjust your website content appropriately as well as localize your sales outreach to the most promising locale.   

Use construction data to effectively fine-tune your website content and engage potential customers in a targeted market.  Contact the professionals at Construction Monitor for more information.