Building is expensive, but the time it takes to complete your project will be significantly reduced if you choose a gray contractor.
That’s the conclusion of a new study, which was published in the journal Applied Economics.
The study found that for each dollar invested in a construction company, an additional five cents in labor and material costs are avoided.
Gray construction companies make up nearly a third of all new construction in the United States.
Here are five reasons you should consider hiring a gray company.
You’ll save money.
Gray contractors are generally smaller than their black counterparts, and they have lower overhead costs.
The majority of the gray companies surveyed by the study used only steel for their construction.
This means their costs are lower than for black construction companies.
This is especially important for large projects that require long-term, high-cost labor.
In addition, gray contractors usually hire more qualified employees than white contractors.
This makes them more cost-effective.
You won’t have to worry about getting paid.
Gray companies are more likely to offer paid time off and flexible hours.
This gives you more time to focus on your project, which makes it easier to complete it and save on labor and materials.
You can be confident that your labor will be paid.
A lot of the time, contractors charge more than white construction companies because they have more time and expertise to deal with complex, high labor costs.
They’re also more likely than white companies to negotiate better pay.
This will save you money.
You get to be your own boss.
Gray labor can be a lot more flexible than its black counterpart.
If you choose to hire a contractor that has no supervisors, it’s often the contractor that will handle the job.
This flexibility allows you to be the boss of your construction project.
You might save money in the long run.
Gray work typically requires less work than its white counterpart, which means you’re more likely at a higher wage rate.
And gray contractors typically pay less in their first year of employment.