A Message to Industry Leaders: Remodeling is the most fragmented industry in the nation - meaning it is more composed of smaller companies than any other industry out there. Many of the remodeling companies are comprised of only one or two people. Kermit Baker, Economist from the Harvard Joint Center for Housing, reminded us that this fact has not changed in ten years at his yearly forecast to us (this year’s will be in March).
Most companies start with only one to two employees, but what is it about our industry that keeps us small?
I would rationalize that this fact coincides with the remodeling industry not being known for it’s professionalism or high standards. This hurts all stake holders - the consumer, the business owners, and employees (or lack there of). While size does not always equate to profitability, one does need to grow in order to increase profits.
So how does one grow successfully in an industry known for its lack of good examples?
For me, finding those who have bucked the tradition has been my single most successful action. NARI has been the vehicle that has provided these individuals.
At our December meeting, Paul Winans was a prime example. Paul built a company that he was able to sell, and propelled his career in helping other remodelers. I certainly walked away with applicable tools I will be using to improve my company, NEDC.
On January 4th we will have another incredible event brimming with industry leaders. Shawn McCadden (who is also in the small minority of remodelers who have successfully sold their companies) will moderate a Peer Panel consisting of:
As I move on from my tenure as President of this great organization, I look forward to continuing on by helping the rest of the Education Committee continue to bring in valuable insight on how we can all become industry leaders. At some point this will spread to the point where our industry has reached a new plateau. Thank you for being an EMNARI member and joining me in this very worthwhile purpose.
2016 EMNARI President