reccesion proof?

Status
Not open for further replies.
S

shocker3218

Senior Member
I am about ready to start my Electrical business back up. I went out of business once before because of several personal issues.

Does anyone know of good areas to look for business that are more recesion proof than others? I am open to anything. And with a degree in electronics, factory maintenance, and several years of lead-man experience on large commercial jobs, I feel I could tackle about anything in the electrical field.

Your input is appreciated!
 
Re: reccesion proof?

What recession?
We are going like crazy here in N.W. Indiana.
It will take some beating of the bush's to find what there is a call for in your area. I survived the "78" crunch by doing anything and everything to get by, and even moving back to Florida as there was a building boom there and they couldn't get enough electrican's at that time. But keep your fields open as many times it will be the unexpected area's of the field that will stay going when others areas die down. Just keep an open eye on where the demand is and go for it. just don't put all your eggs in one basket by specializing. as keeping other fields open will keep the money flowing.
And also keep an eye on interest rates as if they go up, building goes down. This is just what happened back in the "70's"

[ May 01, 2004, 02:19 AM: Message edited by: hurk27 ]
 
Re: reccesion proof?

There is no such thing as "recession proof." Electrical work is not immune to the laws of economics.

However, one thing I hear over and over again, is that "Good electricians are hard to find."
So take that for what it's worth.
 
Re: reccesion proof?

A really good sector to be in when starting up and for continuous work is realty. Existing homes sales and rental leasing is always hot.

You can provide electrical inspections reports for homes bought and sold by the realtor, provide electrical service work to rental units, provide maintenance contracts, service upgrades, etc... I perform work for 6 different realtors in my area. They combined have approximatetly 600 existing homes for rental purposes, and are buying and selling several homes a week.

Many of my service calls result in additional work for the renter, the agents use me for their personal electrical needs and many of the renters and/or buyers that move on to new homes or own businesses will continue to use my services.

Its a win-win situation. In many cases, most work up to $150-$200 does not require preapproval, and I have never failed to be paid.

Good luck! :)
 
Re: reccesion proof?

That will vary from area to area, I am fairly lucky to live near the Nation's Capital. With the dot com, the Government, and genetic research we have gone strong for 34 plus years I have been at it.
Big construction in this area may slow down but the service sector seems to keep busy, with the 3 seperate diverse sectors of our economy.
 
Status
Not open for further replies.
Top