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Covid and business

Bpracing1127

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So now that it has been just about a year since covid took off and shut downs occured. How has your industry and business faired? Seems to me a lot of the people who suffered were in low income jobs.

For me I work in the material handling business (batteries for forklifts) and we have had our best year yet and me personally it was my best year yet too. No end in sight for us either!

So what about your industry and business either owned or worked at, how are you doing?
 

Ace in the Hole

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So now that it has been just about a year since covid took off and shut downs occured. How has your industry and business faired? Seems to me a lot of the people who suffered were in low income jobs.

For me I work in the material handling business (batteries for forklifts) and we have had our best year yet and me personally it was my best year yet too. No end in sight for us either!

So what about your industry and business either owned or worked at, how are you doing?
Wild swings...but we are at less than half of what we should be doing. We streamlined to cut costs. 2021 is shaping up to be a good year though... Texas got a double whammy with covid and oil drop...so things got interesting in our industry. I'd have to really look at it since I haven't done taxes yet...but I'd say I took home 40% of what i should have..I paid my guys first..as it should be.
 

Done-it-again

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We are in the material handling business and specialize in garment distributions (GOH). A lot of our work comes from the industrial laundry side with uniforms for business. Had a lot of projects last year right up to November/December. But these had been in the works for many many months prior. Now the large jobs are far in between as they take 6 months from concept to development. So anything we are working on now can be months away.

So working on smaller ones here and there and some R&D. We have been working with a large marijuana out door grow on how we can get their product from the field to the warehouse to hang and dry and move around the factory floor on a trolley track . Pretty unique for that industry.
 

Icky

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Food, beverage and pharmaceutical industry have been busy for the last few years. Minor slow down when it first started in March last year but that's it.
 

Bear Down

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We Export Fruits and Veggies, which Is about 70% of our division.... matches my portfolio and I was down about 60% of volume compared to 2019. Some what shifted sales focus to augment loss with Continental US based business so really only dropped around 30% for myself... 2021 will still be lower than 2019 but not as bad as 2020...2022 should be a stellar year if everything clears up due to shift of focus and will have an increased portfolio overall in 2022... in theory..
 

jetboatperformance

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Happy to say the "winter recreational marine" doldrums were almost non existent this fall/winter, seems like a lot of recreational business is in the same "boat" (RVs Fishing , camping) not what we expected from Covid craziness ...,
 

paradise

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We're in IT and AV and it has been interesting to say the least.

Business itself has been good, not off the charts but good. Our hospitality clients have struggled obviously but are starting to come back. The AV (construction) side has been very busy and people for the most part are way more concerned about when we can start vs what the price is. Some absolutely silly pricing for construction in the past year.

That said, I lost a few guys due to wanting to work from home or just laziness and deciding it was easier to get unemployment and a cash side job. The work from home thing just doesn't work for me and I am totally not a fan. There is no way people are as productive and as much as it sounds like micromanaging there's very little way to see how employees are interacting with my clients over the phone or how long they are spending on a given task. It's a challenge and seems like an uphill battle that I'm not sure what direction we'll go in.

Then you've got the masks and dealing with some of my employees having a love for them while I am not a fan. For the most part it becomes a "You do you" situation but it makes me cringe when they put a mask on because they are walking across the office...
 

batterup

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I own a commercial insurance agency and business has been good. I think a lot of brokers dropped the ball on coverage changes that could've helped save companies premium during covid. I work with a lot or restaurants, contactors and auto part manufactures. Obviously restaurants took a hit, but most of my other clients saw a steady increase in business. The good news for companies is work comp remains really soft and commercial auto has stabilized. The big increases are with umbrella and excess liability. Hopefully, Biden doesn't go and screw things up.
 

gqchris

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I dont see any one on RDP hurt over this. Hell, I cant see anyone hurt in general. Toys are selling at ridiculous prices, everywhere is busy. The lake is stupid busy 24/7. The desert is packed. I dont know, seems very odd to me.
 

Flatsix66

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Tech/Chips - Despite everyone working from home and material shortages demand and sales have been off the hook. Record bonuses paid and company stock/RSU value has doubled since last year. It's weird that I've had the most free time ever, almost feel semi-retired, but it's also been one of the most profitable.
 

Cole Trickle

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Personal lines insurance broker..

We have been working mostly remote for the past year and i don't really see that changing going forward. We are talking about downsizing the office as rent continues to climb and we hardly see clients in house these days. About a year and a half ago I dumped ATT after 40 years and went voice over IP where we can now use our cell phones. If that hadn't have happened when it did Covid would have been a outright nightmare. Not only are we getting more but i saved about $400 a month with the change.

Business wise we are about the same our book is very well established and we specialize in service/retention vs. new business junk sales. I will tell you that for the most part the only clients we are loosing are clients leaving California and it's more than you would think.
 

traquer

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Own a small SEO agency and 2020 was an excellent year. The more business and spending moves online/mobile, the better for us.

Glad we didn't niche down into any specific industry or else we could have gotten burned pretty bad.
 

Ace in the Hole

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I dont see any one on RDP hurt over this. Hell, I cant see anyone hurt in general. Toys are selling at ridiculous prices, everywhere is busy. The lake is stupid busy 24/7. The desert is packed. I dont know, seems very odd to me.
I think a lot of people myself included saw what was going on and decided to still live life and had the liquid to do so..just a thought..maybe I'm wrong. I don't think many people in the beginning saw this being politicized as it has and having the economic impact that it did. Some guys here made a killing last year while others tanked.

This texas ice storm has been a freaking boom for us right now....and we are going to ride the wave the best we can. Went from slow as shit to back to back appts this week..its crazy.

Our biggest issue last year is job losses impacted financing and defaults in our industry increased..which wasn't something common before. My primary client lender upped all their credit requirements to the point that 50-70% of the ones they would have previously approved now fail.
 

HNL2LHC

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Luxury home segment of construction and have been very busy the last few years. Last year was up once again. Hope for the same foe this year. It certainly not slowed down any.
 

paradise

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I dont see any one on RDP hurt over this. Hell, I cant see anyone hurt in general. Toys are selling at ridiculous prices, everywhere is busy. The lake is stupid busy 24/7. The desert is packed. I dont know, seems very odd to me.
It's all artificial. When you pump trillions into the economy it has to go somewhere...
 

Cole Trickle

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I dont see any one on RDP hurt over this. Hell, I cant see anyone hurt in general. Toys are selling at ridiculous prices, everywhere is busy. The lake is stupid busy 24/7. The desert is packed. I dont know, seems very odd to me.
My wife was laid off along with nearly 500 other people after working for the company for 17 years. (covid is a good excuse to send 500 jobs over seas and still have the books look good for the stockholders ;)

Luckily we are in a position where we will be ok but taking a 50% pay cut defiantly makes things interesting...lol

She filed for unemployment january 1st and as of today she hasn't received squat from the state. I actually feel really bad for people that live month to month i can see how everything (bank accounts,mportgage,car payments,credit,etc...) could go sideways really really fast.
 

Done-it-again

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My wife was laid off along with nearly 500 other people after working for the company for 17 years. (covid is a good excuse to send 500 jobs over seas and still have the books look good for the stockholders ;)

Luckily we are in a position where we will be ok but taking a 50% pay cut defiantly makes things interesting...lol

She filed for unemployment january 1st and as of today she hasn't received squat from the state. I actually feel really bad for people that live month to month i can see how everything (bank accounts,mportgage,car payments,credit,etc...) could go sideways really really fast.
FYI. I have some field guys apply for UE Dec 5th and still haven’t received anything. I’ve heard the system is pretty f’d up.
 

manxman

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Custom Plastics and fiberglass, machining and fabrication. We were fortunate to be a niche market perfect for a pandemic. Still cant really grasp 2020.
If you take my best year in the last 40 years (yes, 40year old company) and double it! That was 2020. We slowed a bit in November, December and January, wich is normal for us, but we are right back to being crazy busy again. I am bidding and quoting and getting more jobs then ever. I think it will be hard to keep pace with 2020, but we are on track to have a good year this in 2021.
 

Bpracing1127

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Custom Plastics and fiberglass, machining and fabrication. We were fortunate to be a niche market perfect for a pandemic. Still cant really grasp 2020.
If you take my best year in the last 40 years (yes, 40year old company) and double it! That was 2020. We slowed a bit in November, December and January, wich is normal for us, but we are right back to being crazy busy again. I am bidding and quoting and getting more jobs then ever. I think it will be hard to keep pace with 2020, but we are on track to have a good year this in 2021.
You scored! My company flux power does work with you
 

gqchris

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My wife was laid off along with nearly 500 other people after working for the company for 17 years. (covid is a good excuse to send 500 jobs over seas and still have the books look good for the stockholders ;)

Luckily we are in a position where we will be ok but taking a 50% pay cut defiantly makes things interesting...lol

She filed for unemployment january 1st and as of today she hasn't received squat from the state. I actually feel really bad for people that live month to month i can see how everything (bank accounts,mportgage,car payments,credit,etc...) could go sideways really really fast.
Ugh this just flat sucks. 17 Years and thats the "thank you" they get.

It worries me because I am in IT and since we are all remote now, what stops the company from outsourcing us to India and we all lose our jobs?!!

And the worse part of this story is your wife, who DESERVES the UI cant get it timely, but losers that scam the system are rolling in it.

Hope things get better brotha!
 

hallett21

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Ugh this just flat sucks. 17 Years and thats the "thank you" they get.

It worries me because I am in IT and since we are all remote now, what stops the company from outsourcing us to India and we all lose our jobs?!!

And the worse part of this story is your wife, who DESERVES the UI cant get it timely, but losers that scam the system are rolling in it.

Hope things get better brotha!
Position yourself so that if you go so do the clients?


Sent from my iPhone using Tapatalk
 

gqchris

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Position yourself so that if you go so do the clients?


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Yea I already have my business and I service clients direct. My main client hired me 3 years back so its kinda the best of both worlds. Losing either side of things would definitely sting though! I have never advertised since I started 20 years ago, but thinking it may be time to hire some more guys and really expand.
 

NicPaus

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Housing market is booming here with all time high prices. Keeps us slammed with work. Majority of my new work last year was work on houses before they got listed for sale. Regular customers its been steady like usual. Material prices have gone way up though.
 

DanG

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Restaurant supply distribution here. Luckily we have some government contracts, hospitals, senior living, etc. Also have picked up some market share from competitors. Sales are still down 35-40%. Republican states that are more open are obviously doing much better, with Democratic states with shutdowns and limited indoor dining are suffering badly. Hard to keep sales up when you go from selling a $150 case of china to selling an $8 case of to go containers.
 

Activated

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Transportation industry.

Record profits. Our customers need us more than we need them at this point.
 

spark2678

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Commercial Electrical. 2020 was a great year with a revenue record, profit down a bit. 2021 is looking superb as well.
 

sigband

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I agree that covid is a bad thing for a new business now, but if you know what you are doing you can turn even such things in your favour! All I want to say by this is that while a lot of companies are complaining that they don’t have all the necessary conditions in order to exist, the other companies are flourishing and are getting more and more customers. I am talking about those SEO, Marketing, Digital and SMM marketing companies. A good website like neetish sarda father can easily show you what are the main mistakes when it comes to set up a new business in this hard period of time. Just go there and you will understand what I’m talking about.
 
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H20 Toie

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We rent video equipment, had 8 months of zero income we are probably at 40% now with studio work. zero on conventions and concerts, so overall this last year has been a disaster.
 

DMF

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Commercial electrical here as well mainly on the retail sode. 2020 definitely took a hit. 2021 is insanely busy!
 

paradise

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We rent video equipment, had 8 months of zero income we are probably at 40% now with studio work. zero on conventions and concerts, so overall this last year has been a disaster.
Just sent you a PM. 👍
 

Blackmagic94

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Unemployed assholes made a ton of money for what they were worth, i know a guy in NJ that was making almost 5500 a month to sit on his ass.
 

Mandelon

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Building, Remodeling, Mold Remediation, Waterproofing, etc.
Busy as hell. Never slowed a bit, and only seem busier now. Materials costs going up, hard to get some products. People seem willing to pay whatever it takes.
 

Dirtbag

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So now that it has been just about a year since covid took off and shut downs occured. How has your industry and business faired? Seems to me a lot of the people who suffered were in low income jobs.

For me I work in the material handling business (batteries for forklifts) and we have had our best year yet and me personally it was my best year yet too. No end in sight for us either!

So what about your industry and business either owned or worked at, how are you doing?
we closed up shop feb 28. 12 years and a quarter of my life gone
 

ChumpChange

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Commercial Banker. Busier than ever right now with a ridiculous amount of competition.

Slammed at the start of COVID due to PPP. Four weeks of working from 6am-10pm or whenever I'd get an email, seven days a week, even on Easter. Was such a crazy time but did what we had to do.

After that initial fun, it was all about being on the modification committee where I'd talk to our customers who needed help. Finding modification solutions. Really sucked for the restaurant and hospitality portfolio. as they were all closed up. Some very sad stories there. Depending on location and if they rely on business travel, they are still hurting. The less experienced bankers got some relaxation at this point as they had nothing to do and weren't on any teams.

Now I'm busier than ever with new requests. Tons of competition though for the good deals. Closing the largest credit facility of my career next week with even larger ($100mil) request right behind. Should be a good year for production numbers but taxing for sure.
 
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