Company Loss Poll (Anonymous)

[Erik Sine]

I'm curious about what loss your company may have taken from 2009 from various situations

[PhillipM]

To explain my theft answer, I upgraded one of my 1 ton bucket trucks by buying a newer chassis and putting the old cab and chassis up for sale. While it was sitting I cancelled the insurance because I didn't see a reason to have commercial insurance with it parked. Well some low life stole it and with no insurance I took a $2500 loss.

[Erik Sine]

That's okay because I want a loss to be a loss no matter if insurance covers it

[jerseysign]

I have lost money in every catagory and often wonder if anyone ever makes REAL money in this business. (I know there are a few but God help me come even close to them).

I never had to pay "restitution" due to building damage, but did have to hire painters and EFIS contractors to repair dmamage from improper placement of signs.

Yes - there is an "s" on the signs...:(

[LiteGirl]

Keep it going

[PhillipM]

Bad luck must be contagious. I had a neon repair job that required a towable battery powered lift to be manhandled and pushed through double doors with just a few inches clearance. Darn thing weighs 3750# and the nose wheel was one of those deals where I had to kick it to get it in the right direction, push a little, kick some more, etc. An outrigger hit the door glass and cracked it! $251.98 for a 26 x 73 piece of tinted safety glass!

[manuellynch]

We lost a lot of business when ImagePoint went under. We were one of their largest LED suppliers.

We lost a bunch of business to people who have switched to low cost knock off or what appear to be patent infringing LED systems

We picked up a lot of business in foreign car and fashion names as well as hospital related business

And as a result of Rugby World Cup in New Zealand in 2011 we have seen a lot of new work

Biggest loss for us was in automotive dealerships - US car dealerships came to a halt

[StephanieVegas]

We at Axiom have lost customers who we now BELIEVE to be buying cheap knock-off LEDs. Other small sign shops have downsized - many have sold their equipment (to make channel letters, etc.) to recoup $$. It's a real mess in some areas.

[HansonSigns]

I think we've had to pay for new windshields twice in the last 10 years due to a dropped nut.... we don't work over automobiles, but they love to park right next to our truck when we are at a site. Just like people moving the "caution" tape barriers instead of walking around them.

Tools do occasionally disappear, but nothing substantial. We did have a break-in in our compound and some a******* walked away with our old bobcat generator that was on the truck. So now we have a more mobile generator that is smaller and can be locked up.

Most of the hand tools are worker owned - they bring their own in. They break 'em, they buy new ones. They take reasonable care of the shop owned tools, so it's really a matter of the tools wearing out more than getting broken from abuse.

Neon breakage - it does happen, but not every job, just a "rare occasion" thing.

Employees hurt - last year we had one of our installers fall off the truck bed and land on his head on the concrete - mild concussion. That was it - we try to maintain a safe working environment. Overall, our guys do a great job.

I think we have an advantage being a small shop, we all know each other and work very well together, and it translates to a bit more concern about the business than a larger workforce might have. At least, that's mho!

[Signworksinc]

we need a survey for losing money due to crane and bucket manufacturers. I need a loss range of $100,000 - $150,000 so I can check it off for my issues. Also a spot for "were your employees helpful and taking days off to survive the battle". also a spot that says was your problem resolved in 6-9 months or later.

[Brian]

We lost a lot of business when ImagePoint went under. We were one of their largest LED suppliers.

We lost a bunch of business to people who have switched to low cost knock off or what appear to be patent infringing LED systems

We picked up a lot of business in foreign car and fashion names as well as hospital related business

And as a result of Rugby World Cup in New Zealand in 2011 we have seen a lot of new work

Biggest loss for us was in automotive dealerships - US car dealerships came to a halt

I don't think this poll is about those kind of losses

[paul321]

I have been ahead of the loss game so far. Any loss is money out of MY profits. Some losses are out of your control, out of business customers or unavoidable accidents. After many years of accepting it I have changed my ways, here are a few.........

1 Every new shop employee, we hold back 2 weeks pay, or he can pay upfront as a deposit. This is held for tool loses or damaged. His mistakes that cost me, now its his cost. If he decides to just leave and not

come back, he just paid me for his decision.

2 Everyone on the outside trucks, $ 1500. Deposit. This is my way of them not damaging, not caring about MY equipment. This equipment pays everyones salery and is expensive to repair. All my trucks are top shelf

and are loaded with every option and more. Not one truck leaves without the heat or AC working.

3 Make everyone, including the salesmen accountable for their mistakes. If it comes out of their pocket, they dont like it and they wont do it again.

4 REWARD them...No damages to the trucks, faster production, Keeping costs down. Give them a bonus and let the others know.

5 OTHER SIGN COMPANIES. Nationals, Locals, I am not their bank. I do not finance them. All work requires a deposit of 50%. The balance is on MY terms. If they dont like it, they were not going to pay you anyway.

I dont waste my time on them, they will be back under my terms.

I learned of this from an outerstate trucker who crashed into one of my trucks on his delivery. Except that he had to give a $ 5000. deposit to the company before they would hire him. The company used his money as the deductable for insurance. He said that he waited 6 years to get a job with this company. They had a list of people waiting. The company was great to work for.....he was already there 15 years.

I dont want to sound like I rule with an iron fist. but since I put this in place, Im way ahead of the losses, and all my workers are making more because I make more. They also dont accept mistakes from the other workers.