How Bad is Your Business Hurting?

[Bullydog]

Dont know why, but this made me think of something last night on I10 between San Antonio and Columbus. Traffic was stacked pretty good with the same old few drivers that refused to stay in the right lane unless passing. People camped out while I and others tried to get moving. A vehicle came up behind me and I moved over before he got close. As he passed I saw it was a cop. The car in front of me didnt yield ( he didnt have the emergency lights on, just driving faster than traffic ). He sat behind them for a bit then flashed his lights and they moved over. He got bebind the next car. Same thing. Again and again, with only a couple yielding before he flashed his lights. He did this until he was out of sight.

Hope some learned their lesson, but doubt it.

Yea, I see it constantly. Just seems a lot of folks have a sheer disregard for anyone but themselves. I respond to a lot of stuff at night, and I live quite a ways away from where I need to get to. Supposed to run with lights on the entire time if we are going 1 mph over 80. Most of the traffic is already going 80 at that time at night. Second I turn my lights on all hell breaks loose, people slam on brakes in front of me on Hwy in the fast lane, move over onto the left shoulder, or just don't move at all, and unless less I lay on the siren, they don't have clue I'm even behind them. But the MAJORITY don't move to the right as basic drivers ed taught them to...

Back on to the thread topic, I feel for anyone struggling with their employment right now and taking care of their families. It's a scary time, but we have been through these before. I was raised by depression-era / wartime grandparents, so it's hard for me to complain about much.. knowing what they went through. But I'm human, so gas prices and my wifi not working still tick me off.

[Rubi513]

We are swamped.
Getting certain material is another story though.

[Uncle Saggy]

We are swamped.
Getting certain material is another story though.

Same

Fuel is hurting too


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[Preacher Man]

I'm in the truck driving around (locally) for about 20-25% of my time. Fuel costs are the biggest issue that directly impacts my business. I can arrange my own schedule so I can minimize high fuel costs a bit.

The indirect costs of rising grocery bills, among other items, will impact me too.

So far, I haven't had to increase my prices. This summer, however, that may happen.

[Quackerbox]

Hang tight, buddy. Subdivisions are going in at a crazy rate and that shows no signs of slowing in the near future. Lots of those houses will want pools someday. People are making a lot of money in a lot of areas right now and those people want pools. Fuel ain't gonna stay at this price forever and when it goes down, people will buy pools to celebrate. Supply chain issues are no joke, but they'll work themselves out and no sense worrying about things you can't control.

You're relatively new to business ownership, so as your friend I'm gonna give you a little piece of what I've learned the hard way....Nothing in business is ever as good or as bad as it seems. And God's will be done.

Business is pretty good. We've got the biggest backlog we've ever had....unfortunately all that work was bid with $3/gal diesel, so that'll be a challenge. The engineers and architects and general contractors that I work with are all bowed up with huge backlogs and tons of work in the pipeline. $100bbl oil is, and always has been, good for Texas economy. We're seeing inflation that was overdue, a housing market where prices are just now catching up with the rest of the country and some supply-line issues that will be fixed in time. A worldwide "pandemic" backed a lot of stuff up, but I do believe it will straighten out eventually.

There were a lot of people griping when oil tanked and they swore our economy was doomed. There are a lot of the same people griping when oil is booming and they swear our economy is doomed. I've come to the realization that a lot of people just like to gripe and fear impending doom. But I know that McDonalds will bring the McRib back in November and that Jesus loves me, so I always have something to look forward to.

Look at you being all bright and sunny

But I think the thread needed it. Thanks

And glad to hear youre doing well Miket. You certainly deserve it

[PlanoDano]

Profession is very good. Tried to retire but they made me an offer I could not refuse (again). One of these days

Side business (rental real estate) makes more money than my profession. I have taken some profits in the last six months so sitting on some cash. I will look for the best way to be fully invested again.

[Lungbustr]

I'm in Healthcare. Our biggest issues has been labor shortages. We cannot find folks to work. We are having to use contract staffing that is often times marked up 300% higher than the wage we pay. In our industry, labor is about 50% of expenses and about 45% of revenue. Our margins are thin to start with and to ever see any meaningful profit it turns into a volume play. How do you increase volumn if you dont have the satff to care for more folks? Also, a vast majority (90%+) of our revenue comes from the government and private insurance. They set the rates of reimbursement not me. So if I have a swift and dramatic rise in labor costs I cannot truly pass that cost onto the customer 9 out of 10 times. Talk about budget busting! Imagine 12% of my current labor force is contract staff and that is marked up 300%. From a $ perspective, It would be like me increasing my staffing by 36% under normal circumstances. I don't know any industry that will be viable long term with a 36% increase in labor cost and no way to offset it.

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Im guessing this is all due to forcing the vaccine on people?

[Big Lee]

Im guessing this is all due to forcing the vaccine on people?

I doubt that. Compassion fatigue likely was the front runner

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[JBJTX81]

Im guessing this is all due to forcing the vaccine on people?

It's a combo of several different things. We lost about 3% of our workforce over the Healthcare mandate. The other 8-9% are just folks with minimal skills that can find better wages than we can afford to pay. The job market is hot and our rev is mostly fixed by the govt. We just can't increase wages across the board without the revenue to support it or we go out of business. So we literally have to limit the number of folks we care for based on available staff. Our margins stay about the same just the overall pie gets smaller. Thel current situation is literally limiting access to healthcare. It's good and bad both. We are pretty recession proof. But it's actually more difficult to do well in a hot market.

An example of this - we just spent half a mil renovating one of our facilities and adding a memory care unit to it. We have a waiting list for the unit. But we cannot find staff for it so it's vacant. And based on today's reimbursement rates if I staffed it with agency contract staffing at the rates they are charging I would lose money opening it. Not even close break even. So it will sit vacant until the job market cools and we can start recruiting folks or the govt increases rates.

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[JBJTX81]

I doubt that. Compassion fatigue likely was the front runner

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Yes burn out coupled with higher wages in less stressful environment...

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[mjhaverkamp]

Without making this political, I'm curious how many businesses are seriously feeling the effects of the supply chain issues, inflated costs, new fuel prices, etc? What kind of industry are you in and how are the current issues affecting you now or how do you anticipate it affecting your specific vocation?

We build custom pools and outdoor living areas and things have quickly become pretty serious within our industry. We provide a luxury item which is the first thing many trim from budgets or postpone with economic uncertainty. Last year was difficult fighting through supply shortages and rapidly rising costs but we still built about 60 pools. This year looks like it might be very bad. I have spoken to many of our subs and other business owners in our industry and we are all seeing some alarming things for this year.

Been in the pool business since 1984, we are so far behind we think we are in first place. Our biggest issue is getting construction equipment, trucks, trailers, excavators, skid steers etc, not sure what to expect in the coming months.

[Artos]

Im guessing this is all due to forcing the vaccine on people?

Wife is taking on a new gig in home health...she is pizzed about HAVING to do a letter for the religious exemption. It’s for sure a real thing!! Should be a non issue by now!!

[hully1029]

One good thing about law enforcement.. doesn't matter who is in office, what potential war we are in, pandemics, etc.. job security.

I don't worry about being laid off, hours decreased, having to take a cut in pay, or all that jazz.. I come to shift, do my 12, go home.. paycheck is the same, on time, every two weeks. It's not glorious, not financially knocking it out of the park, but, it's there.

Now, we are struggling with staffing, like everyone else.. but that's part of it.

[Landrover]

Business is pretty good. We've got the biggest backlog we've ever had....unfortunately all that work was bid with $3/gal diesel, so that'll be a challenge. The engineers and architects and general contractors that I work with are all bowed up with huge backlogs and tons of work in the pipeline. $100bbl oil is, and always has been, good for Texas economy. We're seeing inflation that was overdue, a housing market where prices are just now catching up with the rest of the country and some supply-line issues that will be fixed in time. A worldwide "pandemic" backed a lot of stuff up, but I do believe it will straighten out eventually.

There were a lot of people griping when oil tanked and they swore our economy was doomed. There are a lot of the same people griping when oil is booming and they swear our economy is doomed. I've come to the realization that a lot of people just like to gripe and fear impending doom. But I know that McDonalds will bring the McRib back in November and that Jesus loves me, so I always have something to look forward to.

Pretty clear when folks can step away for 30 seconds and truly look at the entire picture. Better yet, your LAST two sentences is really all most folks need to keep in mind.

[oktx]

Pretty clear when folks can step away for 30 seconds and truly look at the entire picture. Better yet, your LAST two sentences is really all most folks need to keep in mind.

Agree 100%. There a handful that love the turmoil and the more the better.