CPA Installer report reveals optimism across the board
Posted on 12/11/2014
Installers are overwhelmingly positive about 2015 but have failed to see the benefit of recent legislation changes.
These are the headline findings from the annual Consumer Protection Association installer barometer.
The CPA commissioned Insight Data to carry out the extensive report, which asked more than 12,000 installers a series of questions related to business performance and expectations for the years ahead.
The barometer compares business performance between 2013 and 2014 and also asks installers whether they think sales and profits will increase or decrease in 2015.
When polled about how business performance in 2014 is comparing with 2013, 59.38% said that profit margins had increased, compared to 6.25% who said they had decreased.
The amount of work available also appears to be increasing, with 51.56% saying that the number of leads they had received had increased in 2014, compared to 2013; against 4.69% who said they had decreased.
Looking forward sentiment is very positive, with 71.88% saying they expect sales to increase in 2015; with 28.13% saying they will stay about the same and a revealing 0.00% saying they would reduce.
Despite the majority of respondents expecting sales to increase, 62.50% don’t expect the number of staff they employ to increase, suggesting a desire to keep overheads tight and focus on profits.
Those polled were also positive about the industry and UK economy in general, with 53.13% saying that they expect further growth across the industry and 54.69% saying they expected the state of the UK economy to improve going forward.
The much maligned construction industry was also a source of optimism, with 51.56% saying they expected the number of major construction projects to increase.
But despite the positivity about the future of the industry and the UK economy, a high number of installers – 60.94% - believe that recent legislation changes, such as making IBGs mandatory, were not necessary.
Jeremy Brett, Director at the CPA, comments: “Going forward there is clearly energy and optimism across the industry and the bulk of installers are positive about how their businesses will perform and the future of the UK economy.
“The report is extensive and gives installers the opportunity to have their say and share their frustrations and views on their business and the industry as a whole. It’s vital that installers have a voice and platform such as this.”
The report is carried out every year by the Consumer Protection Association and is the only barometer focused entirely on installers.
The CPA is the UK’s leading provider of Insurance Backed Guarantees (IBGs) and has been in business for over twenty years. As well as providing guarantees and deposit protection, the CPA also offer marketing support; quarterly assessments; finance options; and support with business growth.
