Navigating a 25% Drop in Business: Seeking Advice from the Community

As a small business owner in the restoration industry for nearly a decade, I have faced my fair share of challenges. However, the past year has been particularly tough, with a significant 25% decline in business compared to last year.

Over the past few months, I have diligently monitored all quotes and inquiries to identify trends and understand our customer base better. This meticulous tracking has revealed a concerning pattern—many potential clients indicate that our prices are too high, opting to seek services elsewhere. Historically, we have positioned ourselves competitively, often slightly below our competitors, so this feedback comes as a surprise.

It’s common to hear of businesses increasing their prices during inflationary periods, but I’m now faced with the prospect of lowering our rates to maintain a steady stream of work. Each passing month brings a continued slowdown, leaving me at a loss for how to reinvigorate our business without compromising quality.

Is this downturn a temporary hurdle or could it signify a lasting shift in our industry? I would greatly appreciate any insights or advice from fellow business owners or industry veterans. How do you navigate challenging times, and what strategies have you found effective in attracting clients when faced with increased competition?

Thank you in advance for your support and guidance as I attempt to navigate this uncertain period!