Inflation rocks businesses as owners warn Americans are cutting home improvements, service expenses
Businesses say customers putting off roof replacements, house cleanings and AC repairs due to rising costs
{{#rendered}} {{/rendered}}Runaway inflation continues to take a dig at Americans' wallets, forcing consumers to prioritize their spending, make personal budget cuts and weigh their options to make ends meet.
Business owners Keith Troyer, Ben Noffke and Brandon Brown joined "Fox & Friends First" early Tuesday to share what difficulties they – and their livelihoods – are facing as consumers rethink their spending habits due to skyrocketing gas prices.
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{{#rendered}} {{/rendered}}"If you would've asked me six months ago, I would've told you ‘absolutely not’ [having any problems with clients]," Troyer told guest host Ashley Strohmier.
Troyer, who owns a house cleaning and maid service in Columbus, Ohio, said customers are canceling bookings, with their explanations now shifting to job losses and cost-cutting, a phenomenon he has not seen in years.
Noffke, president of a Wisconsin-based roofing company, says supply-chain issues and high fuel costs are contributing to "substantially climbing" roof costs, and consumers cannot afford to foot the bill.
{{#rendered}} {{/rendered}}Marianna Sotomayor said Sunday that it might be too late for Democrats on the economy as gas prices skyrocketed to $5.00. (AP Photo/Jae C. Hong, File) (AP Photo/Jae C. Hong, File)
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"The cost of the roof is up probably 50 percent, and we're on a trend right now of homeowners saying ‘I can’t afford the roof. I'm more so just looking to repair it at this time,'" he said.
Brown, the third member of the business owner panel, owns a Virginia-based air conditioning company, and inflationary pressures are driving consumers to put their money elsewhere.
{{#rendered}} {{/rendered}}"People are starting to decide to fix their air conditioning, buy gas or buy groceries," he said, adding that he has seen an increase in customers financing air conditioning services.
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"We've joined with a finance company that will help them repair their systems but finance it as an option, but it's definitely getting scary when it's 95 or 96 degrees around here… and they can't cool their house," he added.