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Recession
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rjssigns
Active Member
I'm ramping up slightly. Some of the things I do: Personal watercraft, yachts, industrial labeling, construction equipment, class 8 trucks etc...
I also print for another shop and weld/fab for hire on various projects.
Also adjunct faculty at a local college.
Push your existing talents and learn new skills. Got a paint shop in your building? Start doing motorcycle "tins".
Multiple streams of income is where it's at. If there's a downturn in signs I can get more welding or fab work.
When the business slows a bit in winter I'm teaching.
There is no silver bullet other than pushing your talent and always learning.
I tell my students: "If your work doesn't intimidate you from time to time you're not learning anything."
I also print for another shop and weld/fab for hire on various projects.
Also adjunct faculty at a local college.
Push your existing talents and learn new skills. Got a paint shop in your building? Start doing motorcycle "tins".
Multiple streams of income is where it's at. If there's a downturn in signs I can get more welding or fab work.
When the business slows a bit in winter I'm teaching.
There is no silver bullet other than pushing your talent and always learning.
I tell my students: "If your work doesn't intimidate you from time to time you're not learning anything."
Texas_Signmaker
Very Active Signmaker
Right now, there is no recession. Job market is strong, business is good, people are not spending themselves silly. The main concern is inflation and the stock market. Because of that consumers are pessimistic, but everything else is doing OK for now
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spectrum maine
New Member
s long as you raise your prices 30 percent there is no problem at all.
When you say "everything else" I wonder what the everything else is?
They are reprogramming gas pumps for $10.00/gal. So it is more than consumer pessimism.
I always laugh at the way Obama skewed the formula calculating inflation away from energy, gasoline and food (what else is there?) I have a friend who describes his occupation as "economist"'who tries to tell me this reworking of the formula makes sense. I always say with this new formula the Weimar Republic was doing ok...
Notarealsignguy
Arial - it's almost helvetica
In order to slow inflation you have to slow demand. That doesn't mean recession or the sky is falling. Gas prices are high, it's not like this is a first either. People are paying it and habits haven't changed. After watching how so many people blew all of their money over the past years rather than sock it away makes it real hard for me to care or listen to a bunch of whining.
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Texas_Signmaker
Very Active Signmaker
Yup. This is all a result of the free money that was handed out during Covid. Increase the money supply and you will have inflation. The spending of that money caused huge demands on goods and services and companies were swimming in sales. Stock market was happy about that. Now inflation is starting to eat into those companies profits, and the stock market is coming back down to reality. We are just reaping what we sowed. Add Russia's war in the mix and that spooks the market even more.
Notarealsignguy
Arial - it's almost helvetica
I don't buy into the free money thing, the middle class got peanuts in the grand scheme of things anyways. This is a result of bad monetary policy, lowering interest rates when they should have been rising to temper this bubble. Then add in all of the QE. The PPP also didn't help much, that might go down as the stupidest government handout in history and they did it twice. The fed's actions have been swayed by potential political retribution and now they have backed themselves into a corner. I wonder what Greenspan would do? Hey, there's a sticker opportunity for you cricut guys.
Texas_Signmaker
Very Active Signmaker
PPP is the free money. It was much more than the peanuts everyday people got, but it all adds up. You're right, QE and low interest rates feed into this too. Low interest on housing pushed prices up further. The Fed waited too long and are STILL moving too slow. Maybe there are people much smarter than me that could explain that being the right move. Stocks are finally on sale and I've been buying.
FireSprint.com
Trade Only Screen & Digital Sign Printing
Keep adding value. Keep hustling. You'll be OK if you focus on your clients and get it every day. Especially as a small shop.
Recessions are a great opportunity for those of us that keep pushing to improve every day.
Recessions are a great opportunity for those of us that keep pushing to improve every day.
What’s a good way of adding value? Investing in new equipment? New products? Skills?
96XP
New Member
Past couple of years have been solid, and bookings for custom designed work never stops here. However, I anticipated a slowdown at some point and started a local print-sign business on the side - just in case, and we squeeze in the odd job if we can.
But, been so busy the past few months, that we can't advertise it yet because there just isn't enough time in a day, and I work seven days a week as it is. (love every moment)
And no, I do not want staff or a bigger operation, just a bigger computer. Lol
Am very comfortable just being a mom & pop kind of shop (wife and I) and a couple legacy printers that are paid for and I try to service the best I can, with help from great forum members as well.
That said, every year changes here. Sometimes it's been full out dragster and boat year, and then evolves to other power sports as time passes.
Dragsters have been slow this year in particular, though considering hauling a trailer with a truck, and a dragster for the track, AND the price of fuel, inflated economy, etc... it's no wonder.
In my area, we're currently at $2.19 a litre (regular fuel) = $10.36/US Gallon I think. Diesel is higher.
In winters, slack is picked up plowing snow and love the challenge.
Aside from that, in spare time, I upgrade software and skills; design new scenes for the coming year, as well for making custom framed canvas prints.
I thank God we've survived this long, and have heard from many customers over the years that it's because of the style of what we do, and believe that's what keeps us afloat. To note, I'm a big failure at so many other things, but this has worked out well.
All said, the globalists are hell bent in going green and that will be our demise. No fuels, no power toys. Maybe no plowing too.
As rjssigns mentioned, and I agree, it's good to learn new skills and diversify.
34 cores/68 threads and I'm for hire in the winter months, Oct ~ Feb.
No size too large !
Price negotiable
But, been so busy the past few months, that we can't advertise it yet because there just isn't enough time in a day, and I work seven days a week as it is. (love every moment)
And no, I do not want staff or a bigger operation, just a bigger computer. Lol
Am very comfortable just being a mom & pop kind of shop (wife and I) and a couple legacy printers that are paid for and I try to service the best I can, with help from great forum members as well.
That said, every year changes here. Sometimes it's been full out dragster and boat year, and then evolves to other power sports as time passes.
Dragsters have been slow this year in particular, though considering hauling a trailer with a truck, and a dragster for the track, AND the price of fuel, inflated economy, etc... it's no wonder.
In my area, we're currently at $2.19 a litre (regular fuel) = $10.36/US Gallon I think. Diesel is higher.
In winters, slack is picked up plowing snow and love the challenge.
Aside from that, in spare time, I upgrade software and skills; design new scenes for the coming year, as well for making custom framed canvas prints.
I thank God we've survived this long, and have heard from many customers over the years that it's because of the style of what we do, and believe that's what keeps us afloat. To note, I'm a big failure at so many other things, but this has worked out well.
All said, the globalists are hell bent in going green and that will be our demise. No fuels, no power toys. Maybe no plowing too.
As rjssigns mentioned, and I agree, it's good to learn new skills and diversify.
34 cores/68 threads and I'm for hire in the winter months, Oct ~ Feb.
No size too large !
Price negotiable
Attachments
Stacey K
I like making signs
I was told by a bank president to prepare for the recession, it's coming. She said the only thing that will save "us" is that baby boomers will retire so there will be plenty of empty spots to fill.
Baby boomers seem to spend money no matter what is going on. The recession doesn't affect them as much. I've had several older gentlemen come in lately for pinstripes and odd ball decals for boats, etc. I've been making sure to fit them in so this winter I expect to have quite a bit of work doing that kind of thing...they keep telling their friends LOL
Baby boomers seem to spend money no matter what is going on. The recession doesn't affect them as much. I've had several older gentlemen come in lately for pinstripes and odd ball decals for boats, etc. I've been making sure to fit them in so this winter I expect to have quite a bit of work doing that kind of thing...they keep telling their friends LOL
Texas_Signmaker
Very Active Signmaker
The stock market was spooked with inflation numbers and Russia. It seems to of bottomed out and PE ratios are looking attractive again after being elevated for so long. Housing is starting to take a breather, and spending B2B is still strong, consumer travel bookings are strong even into the fall so that hasn't died down. I might be completely wrong and look back on this in a year or two but the outlook is not as bad as people think. Now that everyone is crying recession recession, it's time for the smart money to invest when everyone wants to get out.
Our company has had some long stretches of being really busy. We had one slow-down earlier this year which thankfully didn't last long. Next thing we knew we were covered up with work. Rampant inflation has me pretty concerned customer activity could drop off to nothing without warning.
Around the time of the dot-com bubble burst period, late 1999-early 2000, our company hit a brutal slow patch and struggled well into 2001. The strange thing is once the war got going business started getting back more back to normal. The housing market here in Oklahoma wasn't gamed up in the mid 2000's like it was in so many other parts of the country, so we didn't get all that badly affected when the housing bubble burst. My IRA took one hell of a beating. But business stayed pretty solid.
This time is different. Housing prices and rent prices here have grown ridiculous, at least in terms of local income/wage scales. I feel like we're in an unsustainable financial situation. The sign industry is part of the advertising industry overall. When an economy starts sliding into recession one of the first places that gets hit is spending on advertising.
We're trying to get projects completed and billed out as fast as we can to keep positive momentum going. The supply chain issues are very frustrating. Projects with LED variable message displays get held up because of long delivery times. We're having to wait upwards of 20 weeks on some units. Inflation on various materials makes it harder to bid jobs. Someone with an old bid from a year ago who is actually interested in buying now has to get the project re-bid because that old price is no good. That just adds another possible variable that could feed into customers not buying.
Around the time of the dot-com bubble burst period, late 1999-early 2000, our company hit a brutal slow patch and struggled well into 2001. The strange thing is once the war got going business started getting back more back to normal. The housing market here in Oklahoma wasn't gamed up in the mid 2000's like it was in so many other parts of the country, so we didn't get all that badly affected when the housing bubble burst. My IRA took one hell of a beating. But business stayed pretty solid.
This time is different. Housing prices and rent prices here have grown ridiculous, at least in terms of local income/wage scales. I feel like we're in an unsustainable financial situation. The sign industry is part of the advertising industry overall. When an economy starts sliding into recession one of the first places that gets hit is spending on advertising.
We're trying to get projects completed and billed out as fast as we can to keep positive momentum going. The supply chain issues are very frustrating. Projects with LED variable message displays get held up because of long delivery times. We're having to wait upwards of 20 weeks on some units. Inflation on various materials makes it harder to bid jobs. Someone with an old bid from a year ago who is actually interested in buying now has to get the project re-bid because that old price is no good. That just adds another possible variable that could feed into customers not buying.
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Notarealsignguy
Arial - it's almost helvetica
The fundamentals are solid, unemployment historically low, high numbers of job openings, labor participation is high. Everyone has an opinion especially now when they can just regurgitate whatever headline they read. The financial ones are the WORST for click bait.
Stacey K
I like making signs
I'm doing the same, I'm trying to get the money makers out the door and invoiced as fast as possible. Last month I had a week where the phone didn't really ring and I was getting pretty caught up. The following Monday I was slammed again. I have enough work right now to keep me busy for about 2 months with plenty of estimates out and probable job prospects out there.
I'm constantly thinking of additional ways to diversify.
I'm constantly thinking of additional ways to diversify.
Solventinkjet
DIY Printer Fixing Guide
If we do end up in a recession, the used equipment market will come alive again. The last decade it's been cheap to borrow money so people have just been buying new. We used to sell used equipment all the time but now it's very far and few between. Once that cheap money isn't an option anymore, used equipment is going to have value again. Not to mention, recessions tend to trim the low quality shops from the bush. All those people undercutting prices to steal your customers will be selling their equipment to pay the bills.
petepaz
New Member
for whatever reason we have been busy right through the pandemic and recession up to date. we had two lulls one back in april 2020 when we were closed due to 3/4 or our employees having covid then maybe about 6 or 7 months ago. other than that our only issue has been getting materials so just been trying different vendors and brands to find replacements. as far as the work load we have been lucky. i would say if you are slow you might want to look in to other services or products you can offer to hit a wider spectrum of customers. fortunately we are a pretty big company and offer a lot of different things. we have silk screening, hot stamping, flexo printing, digital printing (solvent, UV and latex) we have a laser cutter and flatbed router, doming, we also make steel rule dies and inhouse die cutting so we cover a lot of areas