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The Clark Howard Podcast

11.4.20 The appliance repair industry is booming; Credit card companies are soliciting new customers

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.64.9K Ratings

🗓️ 4 November 2020

⏱️ 37 minutes

🧾️ Download transcript

Summary

As people are spending more time in their homes, they are starting to spend more to fix them up. That means that the appliance repair industry is seeing a boon in business. Credit card companies like Capital One and American Express are spending lots of money to score new customers - even as they cut the spending limits of other current customers. Want more money advice? Sign up for Clark’s free daily newsletter! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Sometimes running a business can feel like cycling uphill with square wheels.

0:07.0

But zero online accounting software can help predict the future cash flow of your business.

0:15.0

So you can stay one step ahead. Soon it'll feel more like free-wearing downhill.

0:21.0

On a tandem! What, mate? With a messer on the back.

0:25.0

Oh, that's nice.

0:26.0

Search zero with an axe. Because healthy business is beautiful business.

0:36.0

Great to have you here on the Clark Howard Show where it's about you learning ways to keep more of what you have.

0:42.0

Our website, Clark.com and ClarkDeals.com.

0:47.0

You know what, ClarkDeals, when we were having a meeting during the period leading up to the Labor Day holiday,

0:55.0

which is historically a huge sales period on appliances.

1:00.0

We were talking about the problem with the appliance industry, the lack of inventory,

1:06.0

and how this past Labor Day sales were non-sales sales.

1:11.0

And it's been a very difficult time if you have a major appliance in your home that croaks right now,

1:20.0

because replacing it is hard. And we had a call or just a couple of weeks ago,

1:25.0

and said, what's the deal? Why is it that when I went to look for a refrigerator,

1:31.0

they were all saying they'd be available in 21. Well, it's not that all of them you got to wait till next year.

1:38.0

It's been very, very hard because the workforces have been so disrupted at appliance manufacturers,

1:44.0

because there's so many of their workers getting coronavirus on the assembly line.

1:48.0

And then you've got people who are at home so much more using appliances that don't normally use as much,

1:57.0

and so they're wearing out. I saw an item in the Washington Post, in fact,

2:01.0

how being an appliance repair person right now is one of the greatest businesses you can be in,

2:08.0

because the demand for your services is off the charts,

...

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