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 in the two years to 2011, 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
There are low barriers to entry for the Millwork industry. Industry competition remains high, however, because there are still a significant number of firms operating in the industry. This competition will ensure that profit margins are kept in check for any new producer and will make gaining new business difficult, even for experienced manufacturers. Any new company with a competitive advantage, though, such as a new manufacturing technique that improves product quality for a competitive price, could gain access to this industry.
Start-up costs vary depending on the scale of operations. New businesses will need to secure an operational facility with easy main-road access and turnaround room for large delivery vehicles... purchase to read more