The cost of living crisis has made life a little more difficult for window installers as potential clients search harder for far less expensive solutions.
Many people now choose to "skimp by" and replace only the windows that are absolutely necessary, as well as renovate rather than replace entirely.
In addition, installers have been hit with salary and price hikes. As a result of these cost increases and the inability to raise pricing too much due to increased competition, they have had to find creative ways to manage business and stay profitable!
To combat these issues, clever window companies now offer a variety of products, ranging from the ordinary cheaper range to the more elite range.
So, in addition to providing the conventional uPVC selection, which is what all installers do, also offering to install exquisite, high-end timber and aluminium products in more upscale residences and conservation areas can be a life saver. It is in these areas, where cost savings are less important for the client – almost recession proof.
Also diversifying to replace double glazing in timber frames in addition to uPVC frames is something that most other installers do not provide. This can help to stand out from the competition and attract a wider range of clients that can afford more. These type of installations also can carry higher profit margins.
In addition, in an effort to appeal to a different market niche, expanding to offer installations of warm tiled roofs on conservatories is also a game changer. These are still popular as they allow the homeowner to have extra living space into the conservatory as it is more like an extension once a warm roof is fitted.
Many installers who continue to offer and install only the conventional uPVC range of goods are now potentially seeing a shortage of work due to greater competition, which has caused costs to drop in this "cheaper" end market.
It is a great idea to not only concentrate more on residential work, but also take on some significant commercial aluminum projects where installation times are longer and profits are higher.
Additionally, working on secondary glazing and timber projects in conservation areas can put your company in a a very prestigious position too.
The largest shifts in recent years have been down to consumers looking for less expensive solutions and installers struggling with growing competition and increased expenses and not being able to charge prices in line with all the increased wage costs and material price increases.
Homeowners today have a wide range of product alternatives because there are more colours, foils, styles, and material possibilities available than there were in prior years, so installers need to highlight their portfolios.
Before deciding on what is best for their house, many homeowners like to consider alternatives; UPVC, aluminium and wood. Additionally, foils have gained a lot of popularity as consumers are moving away from plain white UPVC and higher-end consumers are frequently ready to pay a little bit more for the privilege of having higher end products.
Additionally, the profit margins are significantly larger in these higher end areas than those in the basic white UPVC product world purely because there is less rivalry.
However, the downside is that because these protected conservation areas often dictate timber products (where people are ready to pay more), there can be more travel time needed as customers are often further afield. But in our opinion, the effort is well worth it!
Additionally, when it comes to offering cheap and cheerful uPVC frames, maybe consider offering premium, more expensive uPVC frames with enhanced benefits and selling the long term benefits to customers so they are more willing to pay more. It simply comes down to education.
The best suppliers and installers in the UK operate under the principle that their clients would rather pay more for high-quality materials and qualified MTC tradesmen and draw in customers who demand longevity, quality, and first-rate aftercare.
It is also very much the case that the lower end UPVC sector is seeing a decline in prices as a result of the post-pandemic increase in competition and one-man bands. It is now more important than ever to market your differences more; have you got the best reviews in town, are the fitters paid a salary rather than a piece rate, are fitters allowed to give extra time to complete the job to perfection etc. Homeowners are frequently tempted to choose the cheapest option when they do not understand the benefits of spending more. They need to be educated!
It is also important to pay fitters well since they are the foundation of our businesses and we are only as good as our fitters, but as mentioned previously, the cost of living problem has also forced us to raise their wages significantly, hence pushing up prices. It is imperative that we improve our ability to sell our Unique Selling Points better and justify why it is preferable to pay a little more to avoid regrets!
Here at Sereco Windows in Chesterfield we have implemented all the above and offer a variety of products into different markets to really survive during this cost of living crisis. More information on what we do can be found at serecowindows.co.uk.
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