Sooner or later, most building and remodeling contractors experience a slowdown in business. The housing market is given to unpredictable swings, and any number of factors can affect the amount of work available. A rise in timber prices or interest rates, a series of bad winter storms, or a dip in consumer confidence can all produce a temporary lull in sales. Whatever the reason, the result is usually the same: the phone stops ringing, business dries up, and potential customers all but disappear. Here are some suggestions for riding out the inevitable downturn. Keep a Lid on Overhead Tracking overhead costs is never more important than during a slowdown. Without a clear idea of what it costs to run your
