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Grabowski at STAFDA: Vending “Minimally Profitable”
This past year has been exciting as the economy continues to expand, Edge Construction Supply CEO Eric Grabowski told attendees of the Specialty Tools and Fasteners Distributors Association convention in Charlotte, NC.
“Over the last year, we’ve seen a stronger overall economy, increased construction spending, a decent return of the residential market, and lower unemployment,” Grabowski said in his Distribution State of the Industry address. “While government construction spending has slowed, it continues to hold its own, fueld partially by increases in state and municipal projects.”
Grabowski noted that in August President Barack Obama signed a stop-gap highway bill to extend bridge and road funding until next summer.
“While home building remains lower than expected, there is growth in residential construction, especially in multi-family homes and condos.”
In addition, construction starts in the commercial, industrial, institutional, and engineering sectors are expected to exceed pre-recession levels in 2015.
“If this proves true, my successor — Rod Gowett — will be able to tell you about how 2015 was the biggest year for construction speding ever in the U.S.,” Grabowski stated.
Now that the economy is growing, distributors must consider how to add inventory, deal with price increases, decide how much money to borrow, determine how to “strategically” add staff, and figure out what technologies to invest in.
“These are all good problems to have,” he emphasized.
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