As many of you know, the cost of materials and labor are rising across all industries, the plumbing and home improvement industries are no exception. Over the last year the plumbing industry has experienced cost increases from our manufactures every quarter. Water heaters and plastic products were by far the most aggressive. Water heater cost increased 30-60% during 2021 with an additional increase scheduled early 2022. Most all water heater manufacturers have followed Rheem's increase schedule:
- Rheem Residential/Commercial Equipment
- 2/2021 up to 6%
- 6/2021 up to 8%
- 8/2021 between 10-12%
- 9/2021 up to 8%
- 12/2021 up to 10%
- January 2022 up to 12%
Our petroleum based products (CPVC, PVC, PEX, rubber, etc...) increased 40-72% and many service industry manufacturers have already announced price increases going into 2022.
Over the past several years, our industry has regularly seen manufacturer price increases taking place once per year, but this past year has especially hit our supply chains and industries hard. Plumbers, HVAC, electrical and home improvement contactors have witnessed price increase announcements of major suppliers and brands at least once per quarter and in some areas twice. Many manufacturers have made these announcements public, with increases ranging anywhere from 12% to over 70%. Simply put, the price increases manufacturers face are cascading through the supply chain have begun showing up for the end consumer.
The reason for these increase are due to a multitude of factors, including raw material costs, increased labor rates, fuel and transportation costs and changes to processes. The COVID-19 pandemic, has resulted in many people transferring to remote work or spending more time at home in general. This has let to an increased demand in home improvement goods and services. Many of our products are petroleum based, costs are tied to oil and gas prices.
In addition to supplier and parts cost increases, we have also seen increases in labor costs. My Georgia Plumber ensures every employee from the the person who answers the phone to the technician showing up at your door is fully trained, background checked and drug tested for your safety and peace of mind. We strive to provide our employees the support, education and learning opportunities for our technicians to reach their personal and financial growth goals at a pace they are comfortable with. This includes providing a living wage, training and benefit package to each of our team members. all Insurance rates (General Liability, Workman's Comp, Auto, Health Insurance), unemployment tax, utilities, office supplies, etc... have also seen cost increase.
My Georgia Plumber knows these increases are also hitting our customers in all areas of household expenses. We are actively negotiating all supply costs, researching new products and customer financing options, for you. Our price match guarantee, ensures our customer's will always receive the best price from the best plumbing contractor in Georgia. We are also working on several optional maintenance programs to complement our Home Care Club. We never want you to have to sacrifice quality over price.
As always your feedback is important to us. Feel free to contact us anytime!
2021-2022 Plumbing & HVAC Industry Price Increases
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