The plumbing industry is projected to lose 550,000 employees within the next year. That’s a huge shortfall for such an important cog in the U.S. economy that could cause a ripple effect of higher prices, delays, and more. The good news: There are many ways you can help your shop — and the industry as a whole — weather this storm.
It’s a paradox. The plumbing industry contributes more than $442 billion to the U.S. economy and supports nearly 1.8 million jobs. But the industry could face a shortage of approximately 550,000 plumbers by 2027, making recruitment, training and workforce development increasingly important for contractors.
In Part 1 of this series, we looked at the areas of your business — beyond revenue — that affect your bottom line. These key performance indicators tell the story of how you’re doing, what you’re doing right, and where you can improve. In Part 2, we’re going beyond those numbers. That’s become the numbers are only half of the equation. Knowing what to do with all of that data is the key to a more efficient, effective, and profitable business.
