To Our Valued Customers;
After 16 years of near static pricing our economy has entered an inflationary period that is causing operating costs to increase dramatically for service-based businesses. As a result of these inexplicable market conditions, we have been forced to increase our sign installation rates immediately or discontinue operations.
In the last nine months we have seen unintelligible surges in our primary operating costs. Fuel prices have almost doubled and continue to rise. Our chief commodities like plastics and wood have increased more than 300% and aren't expected to peak until next fall. General supplies, tools and equipment costs are in a seemingly upward spiral.
Utah’s booming housing market has caused the state's cost of living to explode, which is driving a commensurate increase in labor costs. For those willing to work right now what was considered a solid living wage just 6 months ago leaves them well below the poverty line today and unable to cover basic living expenses.
We have truly done everything in our power to absorb inflationary costs over the years. But we have entered into what economists are calling an "inflationary super cycle" that has yet to present a ceiling or time window. After working through some exhaustive math, it has become clear that we can no longer continue operating under our current pricing schema.
Due to these extraordinary economic conditions and in hopes of maintaining pace with inflation, we will need to significantly increase our sign installation pricing effective immediately. I offer my sincere apologies for this sudden and likely shocking notice. Unfortunately, our need to respond to the situation is urgent and existential.
Thank you for your consideration, your business and your loyalty. We look forward to continuing to provide superior service, product quality, branding protections and turn around time for years to come.
Joshua V Banks
Owner, IHI LLC