Even in the current economic climate, homeowners continue to improve their properties. The only change is that everyone is looking for a ‘deal’, according to the leading property maintenance and refurbishment company, Aspect Maintenance (www.aspect-maintenance.co.uk).
Press Release – 27 Feb 2009
William Davies, managing director at Aspect Maintenance, commented: “People are still spending money on property maintenance and refurbishment, but they appreciate the competitive nature of the market and know that they can shop around for the best price.
“The sector’s margins are being squeezed, and operators are having to be smarter in the way they work. There has been a power shift to the customer and there has never been a better time to get work done on your home. In addition to the competitive market place for the builder, materials suppliers are fighting for sales so good discounts can be achieved by your builder which can be passed on.”
Aspect Maintenance operates a reactive maintenance division, as well as a planned refurbishment business, covering everything from the drains to the roof. At the beginning of 2009, Davies expected to see refurbishments business drop off, but in fact the work remains just at tighter margins. He added:
“We have seen a reduction in the average size of job being undertaken, with customers doing a bathroom or a kitchen rather than the entire property. Standard project size has moved from £100K+ to around £30-£40K. The volume of work has however remained strong.
“And, people’s decision making processes have not changed. Those who had always planned to use a larger firm like Aspect Maintenance, as opposed to a one-man band, continue to do so.”
On the commercial side, Aspect Maintenance has seen little change to the way that shops, restaurants, bars and offices run their reactive and planned property maintenance. Commenting on this sector, Davies said:
“Businesses have just slowed their payments. They aren’t disputing invoices, but what they are doing is slowing the paying timeframes – where previously they may have settled an invoice in 30 days, today, this has been increased to around 40-60 days.
“It is clear to see that the economic downturn is having a real impact on the sector, and the tighter margins will undoubtedly be making it extremely difficult for the smaller operators. It’s about working smarter, and understanding the customer’s needs, both from a residential and commercial perspective.”
Aspect Maintenance is a leading property maintenance and refurbishment company operating across the domestic and commercial sectors.
Founded in 2004, Aspect Maintenance has grown at over 100% year-on-year. The company is based in South West London, and operates primarily across the city and all areas inside the M25. Today, more than 100 staff are employed by the company, and it plans to commence its national expansion in the first quarter of 2009.