2020 has been a very challenging year for businesses. Many of the services that companies have provided are either temporarily not in demand or prohibited by government mandated lockdowns. As is the case in any recession, now is the time to look at what your company does and see if you can make adjustments to remain profitable or regain profitability. One of the ways to survive is to change your product and service offerings. To do this, you may need to invest in quality equipment.
Find the Opportunities
Few people enjoy a recession. Times are tough. If you need to make changes to your business model, that can be hard and require some flexibility. All businesses have to look at consumer behavior now and then try to predict what it will be in the future, in both the short and the longer term.
For example, if you have a carpet business and you have been installing carpet in new construction or residential homes, it’s likely that you’ve lost business in the past months. With the economy in freefall, fewer buildings are getting built. People have been ordered to remain in their homes and to isolate themselves from other people. Unemployed people have a lot less discretionary income to spend, so you may not be selling and installing nearly as much carpet as you were in 2019.
In order to balance the loss of income from these streams, it’s possible to make changes in the services or products you are offering. If you, like many people, anticipate that the above trends might continue, you might want to look at offering services like binding and serging carpets, repairing area rugs, and selling area rugs. In the short term, rugs may be what is in demand and what people have the discretionary income to purchase.
Investing in Quality Equipment
- Portable sergers
- Portable binders
- Tapestry binders
- Stationary industrial table binders
- Table mount heavy duty sergers
If you would like to jump right into carpet binding and want everything you need to begin, we have machine deals that combine equipment and supplies and make everything as simple as possible.
We also offer an assortment of carpet cutters and bevelers to suit your carpet cutting application. These range from simple carpet scissors and electric shears to portable bevelers and six blade carpet cove cutters.
For customers who might want to invest in carpet binding equipment but limited budgets for equipment outlays, we also lease equipment and have used equipment for sale on our clearance outlet page. The equipment listed changes, so check back regularly to see if what’s in our clearance inventory fits your needs.
Diversifying your service offerings or products is one way to survive the pandemic and recession. If you’re looking to invest in quality equipment like carpet binding, serging, or cutting machinery that will last over time, call us at 1-888-800-BOND. We will be happy to help you find exactly what you need.