In the June 2020 Snapshot Survey, contractors share their strategies for coming out of the COVID-19 crisis to help you incorporate best practices into your plans. Here's one survey question and its results from the summary report, which will be available in its entirety to EGIA members on 7/24/20.
How does your current revenue compare to this time last year?
When stay-at-home orders first began, many contractors were uneasy about how revenue would be affected. According to data collected throughout the month of June, it seems that the pandemic has had little to no impact on most contractors, and in some cases, may have even benefitted their bottom lines. 57% of survey respondents reported that revenue in June 2020 was higher than it was in June 2019, and 19% said it was about the same. Increased time indoors may have been the contributing factor for many homeowners to seek out home comfort improvements. As COVID-19 cases steadily raise throughout the United States, home services contractors will continue to be called upon to provide essential comfort amenities for confined homeowners.
Here's what a contractor from Ohio had to say:
“We are up 81% this quarter over last year. We are looking at an awesome year for growth.”