The Bonadio Group's 2012 Contractors State of the Industry Survey
The survey takes less than 20 minutes to complete and answers are completely confidential – all information received will be held in the strictest confidence and specifics regarding individual companies will not be disclosed.
Only survey respondents will get the full, comprehensive survey report.
In addition, the final report will include analysis and insight from TBG Construction Division specialists, organized by size and type of construction firm.
Here’s a sample of the report content that only survey participants receive:
- How drastic will the public vs. private sector revenue shift be in 2012?
- Competitive bidding vs. negotiated contracts – what’s happening?
- Bid success rates – how do you benchmark?
- How does your backlog stack up?
- Are your competitors finding surety bonding easier or more difficult?
- What’s the #1 strategy competitors are using for profitability in 2012?
- What are the top 3 issues keeping your competitors up at night?
...& MORE!
The survey closes February 10, 2012 … don’t miss this opportunity to get information, knowledge and insights that can help you seize advantages and opportunities that will make 2012 a great year!
Please follow the directions carefully. If you have any questions, please contact Jennifer Fehrenbach at (585) 249-2807.
Here is a snipit from the press release regaring the results from our 2010 survey:
The study provides a comprehensive analysis of the construction industry in upstate New York based on input received from more than 150 respondents—representing more than a half dozen types of businesses and more than 10 different types of subspecialties.
One of the most pressing issues today is the growing number of competitors in the area and the overall decline in work to be done.
“Construction companies in upstate New York are feeling the effects of the economic downturn and many are more pessimistic about the future of their businesses than they were two years ago,” said Gordon Robbie, Construction Team Leader for The Bonadio Group. “This is an industry that’s in flux and must adopt the mentality of change or die in order to be profitable and grow in the future.”
Survey results show that the industry is in a transition period—moving from single specialty, family-owned companies to larger, multi-specialty outfits. The percentage of family-owned businesses fell from 62 percent in 2008 to about 59 percent in 2010, and about 15 percent of all respondents said that they have plans within the next five years to sell or transition their businesses.
In order to survive, companies are trying to adapt to the economic climate. For some, it means taking extreme measures and changing ownership through a buyout, a merger, or an acquisition. In fact, about 23 percent of all respondents reported ownership changes during the last five years, up from 18 percent in 2008.
The survey also revealed that 60 percent of contractors report bid success rates of less than 25 percent, compared to 53 percent in 2008. About two-thirds of respondents said that 50 percent or less of their work was bonded, down from 76 percent reporting a 50 percent bonding rate in 2008. In addition, the study noted a 4 percent drop in contractors’ profitability compared to two years ago.
“The silver lining to all of this is that companies are starting to operate smarter by expanding the scope of their services, entering new markets, and finding ways to trim bid prices. Because of these changes, almost half of the respondents expect their revenues to increase this year,” said Scott Cresswell, a construction partner with The Bonadio Group. “We hope the results of this study serve as a valuable tool for construction companies to remain competitive during these tough economic times by learning how others are coping and competing.”
The 2010 Upstate New York Contractors State of the Industry Study was organized into four major sections; overall, aggregated results; results for small-size companies; results for medium-size companies; and results for large-size companies. Of the 150 respondents, 53 percent reported as small-size companies (less than $9.9 million in revenue), 35 percent as medium-size companies ($10 to $49.9 million), and 12 percent as large-size companies (more than $50 million). Each section provides information on contracts, surety bonding issues, profitability, security, and financial outlook.
