Every year we conduct a survey to discover what installers really think about the state of the industry and the economy.The results from our latest Installer Barometer have recently landed and they make very interesting reading when it comes to determining what we think about the current health of the glass and glazing industry.
Installer performance in 2014
Just under 60% of installers we surveyed thought that 2014 had seen their profit margins increase, 34% of those surveyed thought that their profit margins had stayed the same, and only 6% thought that they had worsened.56% of installers thought that they had been in a better cash flow situation in 2014 than 2013, and 51% thought that their number of leads had improved in 2014.All of this is very encouraging news, suggesting that a perceived economic recovery is slowly taking place in the construction and home improvement industry.
Installers expect the glass and glazing industry to grow in 2015
53% of installers surveyed expect the fenestration industry to grow in 2015, with only 5% of people believing it will shrink, and 38% expecting it to stay the same. Surprisingly though, most installers expected their workforce to stay the same size, indicating that the majority of employers weren’t considering taking on any new members of staff.
Most installers expect to make a profit in 2015
Overwhelmingly, 72% of installers surveyed expected their sales to increase in 2015. In addition to that, 69% of people surveyed expected their profits to increase in the same year. Again, this points to growing industry confidence in the recovery and the condition of the industry in 2015.
The economy is expected to improve in 2015…
55% of installers surveyed think that the UK economy will improve over the next five years. The majority of installers also believe that employment opportunities will improve and that inflation and UK debt levels will stay at the same figure.
Installers think that mandatory Insurance Backed Guarantees are a good thing
Surprisingly, 45% of installers thought that the recently introduced competent person scheme and the mandatory Insurance Backed Guarantee scheme that came into force earlier this year was a good idea. This is a particularly encouraging sign, showing that the majority of installers in our industry recognise the value of such services: both as a sales tool, and as an effective means of consumer protection.As one of the industry’s leading suppliers of Insurance Backed Guarantees
, we’re extremely pleased to see a measure that we’ve extensively lobbied for embraced by so many installers.