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Procurement Market Intelligence Report

Sign Installation
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Sign Installation?

What is the average price of Sign Installation?

This procurement report includes pricing information to help you purchase Sign Installation. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Sign Installation been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Sign Installation yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Sign Installation?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Sign Installation with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

There are an estimated 3,980 suppliers providing sign installation to the domestic market in 2020. The numerous large franchise networks make up a significant share of the total number of suppliers; however, no single player accounts for more than 10.0% of the market's revenue. During the three years to 2020,... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Experience

How long have you been in the signage and sign installation market?

How long have you provided sign installation services to your longest tenured client? Who are your five largest clients?

Tell me about similar sign installation projects you have worked on in the past. What challenges did you face and how did you overcome them?

On average, how many years of experience does your staff have in this field? How does that measure up to the industry average?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

Competition

How do you attract new clients and retain existing clients?

How does your firm maintain a competitive edge?

What is your reputation like among customers and peers, and how have you developed it?

How do you market your services to potential clients? Do you rely heavily on repeat buyers?

What incentives do you give to long-term clients to stay with your company? Do you offer any incentives to firms that refer businesses to your company?

Financial Risk

What happens to my project in the event of your bankruptcy or if your company gets acquired by another entity?

How diversified is your client base? Which industries drive the most business for your firm?

Do you face seasonal capacity pressure? If so, will you be able to accommodate larger volumes of projects in any given month?

Have you ever been unable to complete an installation project? If so, what was the reason?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand? How have changes in demand during the pandemic affected your business' financial health?

Timeliness

How accurate are your time estimates for projects? What metrics do you use to determine the size of the crew per project?

Is there a project manager responsible for maintaining the timeliness and budget for my project? Will we have access to this person?

Do you have any internal quality measurements regarding timeliness? If so, is that data available to clients?

What is your average turnaround time for projects of this size?

What checks and balances are in place to assure that the work is done on time without sacrificing quality?

Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions? How are these disruptions affecting your ability to provide timely services?

Costs & Fees

Are there any additional transportation, fuel or warehousing charges in addition to the costs listed in your proposal?

What additional fees, if any, are not included in your proposal?

Are there a minimum number of hours charged for installation?

If billed on an hourly basis, are there certain benchmark guarantees for work progress?

Do you offer any service warranties or guarantees? What are the costs if repair work is needed outside any guaranteed timeframe?

Is your business currently waiving or allowing clients to defer any fees if they are experiencing financial hardship during the pandemic?

Insurance

Are your employees insured or bonded? What is your claim record?

Do you have any additional insurance policies? What is the amount of coverage on each?

How much are your monthly premium costs? How are those costs incorporated into each client's rates?

Have you ever had any workers’ compensation claims? If so, when and how did that affect your profit margins?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should state the amount of the contract. (Alternatively, buyers can provide a budget range or cap.)

Buyers should state the payment terms, indicating whether payment will be made once the job is completed, or whether a deposit will be paid before work commences.

Buyers should indicate the preferred pricing terms for work that arises beyond the scope of the proposal.

Selection Criteria

Buyers should consider the supplier's previous relevant experience, including previous clients and major projects.

Buyers should consider whether the supplier can provide all related permits, tools and machinery.

Buyers should be confident that the supplier can meet all installation needs and associated regulatory requirements.

Buyers should consider whether the supplier is providing any warranty for works performed.

Project Schedule

Buyers should state the due date for questions and proposals.

Buyers should state when the bid will be finalized and when the selected supplier will be contacted.

Where relevant, buyers should state the intended length of the contract and any potential renewal terms.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Buyers are subject to a moderate level of risk within the sign installation market. The majority of required inputs are readily available, so suppliers are not at risk of sudden supply disruptions affecting business continuity. However, volatility in inputs further upstream, such as crude oil and steel, increases suppliers' risk... Subscribe to learn more.

HIGH

MEDIUM

LOW