Markets Served by F.H. Perry Builder: Boston Metro
Growth: 2024 was the best year in our 40+ year history, and it was partly due to the continuation of the COVID bubble and partly because some clients committed to larger projects. This year, I expect us stay flat or have some incremental growth, but that’s no problem because we have a backlog, and last year was so great. We do mostly gut renovations on historic properties in Boston, and our average project size is $2.5-$3M.
Challenges: This will be a year of reviewing contracts, cancellation clauses, the impact of tariffs, and price and wage increases. With a new administration coming in none of us can predict the future. I think things will change, and we have to be mindful of how people are buying and spending. Labor will continue to be a challenge—what the demand is and what people are looking for from a compensation perspective.
Advice: I always love the definition of change that until staying the same is more painful than changing and going to the future, no one’s going to change. We need to be nimble. It’s important to track numbers quite closely and keep track of trends. Try and understand our backlog and pipeline so we can pivot when it’s appropriate. I think numbers will tell you where you are and what you need to be paying attention to in 2025. It’s going to be an exciting year, just get ready for the ride. Get your sea legs sturdy, and you’ll be fine.
Vibe: Adaptable