Despite a summer marked by the Coronavirus pandemic and widespread economic uncertainty, America’s home improvement contractors expressed a marked increase in overall optimism in a national survey conducted last week.
463 contractors from across the United States participated in the Summer 2020 National Contractor Survey, conducted by Payzer, the leader in software for the home improvement industry.
Key findings include:
- 73% of respondents expect Summer 2020 revenues to equal or exceed those of Summer 2019
- 59% of respondents report that June 2020 revenues equaled or exceeded those of June 2019
“HVAC, plumbing, and roofing contractors in America are smart, creative, and resilient,” said Chris Halligan, COO of Payzer. “It’s good to know that they are navigating today’s turbulent environment so successfully.”
Other key findings from the National Contractor Survey
- 19% had increased staff or expenses, while only 17% had reduced staff or expenses since last year
- 74% indicated that they were optimistic about their business going forward, with only 6% expressing pessimism about their business
Contractors are adapting to COVID through a variety of methods, including increased use of PPE and contactless service calls: