Industry Analysis & Industry Trends
A recovery in the construction sector will drive industry revenue growth in the next five years. After a contraction in construction activity during the recession, operators will benefit from improved residential construction, which will return to more cyclical growth. Furthermore, pent-up demand from first-time home buyers and more favorable economic conditions will breathe life into the industry. Competition from substitute materials like vinyl, however, is a growing concern for millwork manufacturers... purchase to read more
Industry Report - Starting a New Business Chapter
Depending on the market an operator competes within, there can be high or low barriers to entry for a prospective Millwork industry player. Manufacturers looking to compete within national markets will have high start-up costs for machinery and employees in order to keep up with production, while small companies may operate only within local markets or provide custom products that do not need large facilities or staff for their level of production. Transportation and shipping costs are also high for millwork products which are usually large and heavy.
Many industry players operate their business through contracts with retailers and wholesale distributors, or have a loyal customer base that will provide multi-year relationships... purchase to read more