2009 Economic Recovery Stimulus Package For Our Customers
Unfortunately we all find ourselves in very tough economic times these days. Along with everyone else in the design and building trades this particular recession has impacted all of us to some degree. Some companies may go along presenting like there are no problems there are with everyone in this industry regardless of what they may tell you. We believe in honesty and transparency and we at Home Installations Professionals have not been immune and have seen a severe impact on our vendors sub contractors and most importantly our customers over the last 18 months to two years with a steady increase in the recessions effect as it goes along in every aspect of our business and in all of our subs vendors employees and customers personal lives.
Home Installations Professionalshave been and continue to be in the business of exceeding our customer expectations in all ways in design build home and commercial improvements since 1973. We take pride in and love to design and build while taking a basement backyard office warehouse or any space and making that space into a beautiful new living space for all to love and enjoy.Home Installations Professionalshave and continue to earn the respect and support of thousands of satisfied customers just about 80 large and small projects a year. However over the last 18 months to two years we have been experiencing a learning curve regarding this new economic reality and how it effects all aspects of our business and how we adjust to it to better serve our customers. In the last 13 months we have had many of our vendors large and small suppliers go out of business altogether are close to doing so or have severely cut back their credit lines or product and stock availability to us. Many of our vendors and sub contractors banks have either called in our vendors or sub contractor business lines of credit or shut down their existing lines of credit and Home Installation Professionals was not excluded. This negatively impacted us and few of our customers in the last half of 2008. Because of the compromised flow of credit and other resources we normally rely on such as vendor and bank credit to meet basic business expenses we had challenges with fortunately only 4 projects during the last quarter of 2008 out of 80 totally satisfied customers in 2008 and thousands of satisfied customers since 1973. This is the first time since 1973 we have ever had challenges such as this occur. We are working through these projects now and working very closely with these customers and all of these projects are completed or are being professionally completed by us. We continue to work with all four of these customers we are professionally completing their projects. and have offered to go above and beyond for them with free upgrades or expanded project scope free to them to get over these rough times.We continue to work with them.
Enough doom and gloom. Now for solutions and what we can and are doing as we move forward in dealing with this economy and making sure we dont have issues again as we did in these four projects in 2008 out of eighty projects last year seventy six with awesome results and most importantly to protect our customers and insure great outcomes far beyond our customers expectations on every project.
1. As of this MonthHome Installations Professionalsreresourced our vendors and reestablish new credit and vendor lines. The new federal programs have helped significantly.
2.Home Installations Professionalsresourced in some cases new subcontractors were necessary and reestablish new payment terms and rules to best serve our customers.
3. Most importantly as of March 1st2009Home Installations Professionals isnow protecting our customers our vendors sub contractors and ourselves and eliminating any economic impact by now only working through professional construction escrows programs professional construction coordinators bank and title companies for all our new and future projects regardless of the size and scope. All funds are directed from the customer to the bank and or Title Company and payments are incrementally made through the title company in small increments only when specific performance based projects steps are accomplished. For example in a basement or an addition project a payment is made only at framing one at electrical one at HVAC one at finish flooring etc. And this payment is only made upon complete approval of all parties the homeowners the GC the subs the bank and or title company and local municipal inspectors. Performance bonds are included; also when all payments are made each payment to any party is not made until after all mechanics lien releases and associated paper work are provided by the sub vendor or GC. So each and every incremental step and all payments are inspected and approved by all as the project goes along. A complete project budget called a Contractors statement listing all line items and payments to all vendors GCs and subs that is available to all at all times. Upgrades can be added if required to the budget or contractors statement at anytime. Home Installations Professionalspays all fees for the title company professional construction coordinator and performance bonds.
Since 1973 we have always relied on our very detailed pro client contract and our interaction trust and team work with our customers has always worked for everyone on our projects from 1973 through the first half of 2008 but our recent learning curve has taught us that sometimes is not enough given and depth and length of this recession which seems to have particularly targeted the housing build and remolding industry. We do know that had we had the Title escrow program in place none of the challenges we had with these four customers would not have occurred since every project detail and cost is listed and must be approved by all before any payments are made.Home Installations Professionals isworking on four projects right now that are all Title coordinated one for a Vice President of a large local bank and through the professional construction coordinator and all are going very smoothly without issue.
Home Installations Professionalslook forward to 2009 and the inevitable turn around and economic recovery we hope will come much sooner than later. In the mean time we look forward to continuing to exceed all our customer expectations in all home improvement and commercial design and build projects. One great thing this recession has done is that we are now offering our customers at least 20 to 50 discounts on overall project costs because of the tough economic times we are all in along with our standard policy of beating any professional proposal in all ways including many free upgrades along the way for our customers that other builders will not even consider along with our free architectural and professional interior kitchen and bathroom design services and our free lifetime warranty on everything we do. Please talk to us about other stimulus packages and discounts we offer and please come and see our work tour our local projects and talk with our customers.Home Installations Professionalswill work through this together improving today for a better tomorrow.Home Installations Professionalsbuilds on our success and turn challenges into improvement to better serve all our customers.
Thank You
Brian Weinstock
About the writer: I was born and raised in Northeastern Illinois is an Educator Engineer Builder and Professional Home Inspector with over 31 years experience in the field. I’m a professional residential and commercial inspector licensed by the State of Illinois.
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