Often the impact of cost increases on profitability can be fully discerned only in hindsight. As contractors examine their books to find out if sales volumes reached expectations and determine if increases in insurance costs necessitate an increase in service rates next year, they might wonder how others in the industry have been faring.
The News’ “Salary and Service Rates Editorial Study” was conducted in 1999, 2000, and 2002, and the data accumulated from the more than 1,600 respondents over this four-year period can help contractors put their own rates and expenses into perspective as they prepare to navigate an uncertain economy in 2003. While looking back at past surveys, The News interviewed several contractors to examine how the recent economic downturn affected their businesses and ask them about the challenges they foresee in the year ahead.