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Procurement Market Intelligence Report

Wood Floor Installation
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Wood Floor Installation?

What is the average price of Wood Floor Installation?

This procurement report includes pricing information to help you purchase Wood Floor 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 Wood Floor 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 Wood Floor 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 Wood Floor 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 Wood Floor 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 ?

The wood floor installation market has a low level of market share concentration, with the four largest players (Empire Today LLC, The Home Depot Inc, Lumber Liquidators Inc. and Shaw Industries Group Inc.) accounting for less than 30.0% of the market's revenue. There are more than 17,000 wood floor installation... 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?

Relevant Experience

What procedures have you implemented to establish adequate knowledge of the latest technological developments or market changes?

What former experience do you have in installation projects similar to ours?

In what ways have you stayed up to date with the latest technical developments in wood installation?

How often have you engaged with companies from our sector?

Customer Satisfaction

Have you had any major complaints from past customers associated with service quality? How have you dealt with their issues?

What are your standard service procedures in the event of services that do not meet buyer requirements?

What communication methods have you established to ensure buyer satisfaction during the installation period?

How available are you in case customers need assistance after installation?

Have you had to reduce your workforce as a response to the economic decline brought on by COVID-19? If so, how has this change impacted your service quality?

Market Competition

How do you maintain a competitive advantage in your business?

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

What industries do you serve, and how exposed are you to any one particular industry?

What related products or services do you provide to buyers to add value to your services?

Quality Inspection

Do you have samples available? How recently were these samples made?

What quality inspection procedures do you have in place? Do you have a designated quality control person?

What methods do you use to fix wood floor imperfections?

How do you replace defective installations? How fast is the turnaround?

Work Routine

What are your daily hours of operation? Do you work continuously until project completion?

Will you be working on multiple projects during my installation period?

How are you planning on organizing this project in terms of milestones?

How often can I expect progress reports?

What actions have been taken to reduce COVID-19 related health risks to clients and employees? how have these actions impacted your ability to provide market services?

Supply Chain

How does an increase in raw material prices (wood, sealants) affect your business and me as a buyer?

How do you deal with wage changes?

Prices for some of your inputs have been volatile. Do you have a plan for mitigating supply chain risk due to a price fluctuation?

How do you ensure the quality of your primary inputs?

Can you tell me about a time when there was a disruption in your supply chain? What did you do to fix it?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should include as much information about the total scope of the project as possible. If buyers have a budget or current working estimate, this should be included in the proposal so the service providers can create estimates based on this amount.

Buyers should include information about the payment schedule (i.e. if it is incremental or done at the completion of the project).

Buyers can consult the Benchmark Price section of this report to determine how much they should pay for installation or maintenance

Selection Criteria

Buyers should specify what measures of quality they will be using to select a supplier. For example, these measures can be reputation, credentials of staff, customer service and depth of the technical plan submitted.

Buyers should also choose a supplier based on the price estimate given.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include a deadline for proposal submittals and state when the contract will be awarded.

Buyers should include a timeline of the project and expected completion date.

Buyers should include any other benchmark dates that are relevant to the project including site visits and walkthroughs.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The wood floor installation market is characterized by a medium level of supply chain risk. The main source of supply risk is from wood flooring manufacturers, which depend on upstream lumber producers and wholesalers for their inputs. Lumber prices are historically volatile due to fluctuations in the construction and paper... Subscribe to learn more.

HIGH

MEDIUM

LOW