In this post, we discuss the problems that may arise for KBB businesses following the pandemic.
As the KBB sector approaches a second lockdown, there’s understandably fear for what the future holds. Even if the pandemic has not yet impacted your business, recessions and further restrictions loom around the corner.
Will people have money to invest in their homes? If they do, are they willing to spend it? It’s hard to say for sure. There may be an increase in business today. But will it be gone tomorrow?
A positive impact
On the plus side, tradespeople continue to work through lockdowns. That’s fortunate because the majority of our clients are currently overloaded with leads!
As we are confined to our homes, it feels right to invest in them. So if we are heading into a recession, it doesn’t necessarily mean that KBB businesses will be impacted.
An article from Investopedia found that during the 2008 financial crash, it was common to invest in home improvements rather than moving house. If people are continuing to invest in their homes, your KBB business needn’t worry about lack of interest.
A negative impact
Currently, nobody knows if and when we will enter a recession. The economy holds no signs available for prediction. Sadly, no news does not mean good news.
Without having any idea of the direction that the economy is travelling, we are only able to speculate.
Something to consider is the KBB industry’s cash flow. Fear alone of a recession can be dangerous. Tightening purse strings could mean less money spent on businesses lifelines like lead generation.
If lead generation suffers the entire KBB industry could stumble regardless of whether there is a recession. It would be wise to plan for this.
What’s the solution
Regardless of whether you think your KBB business could thrive or fail, we should all be doing similar things throughout the pandemic. Focus on the current state of our business. Get the most out of the situation whilst we can. And plan for the future.
At KBB Leeds we are determined to help your business come out of this pandemic not only surviving but thriving. We are passionate about high-quality lead generation. With our bespoke, award-winning formula, you can rest assured that your lead generation will remain safe throughout Covid-19. Contact us here to find out more.
