Contacts: Joe Cali, CEO of Joseph Cali Systems Design Inc. (Los Angeles, CA)
According to a recent Prince & Associates survey, 34.9% of the uber-wealthy (households with a net worth of $30 million or more) estimated they'd spend $42,000 on A/V equipment and services during Q4 of 2008. In a season of dismal numbers, dealers who work with high-end clients could finally take some comfort.
"I deal with the upper echelon of the entertainment industry and my clients aren't changing," said Joe Cali, CEO of Joseph Cali Systems Design Inc. in L.A. and Santa Monica. "I'm charging my regular fees for design and engineering. My labor hours and charges even went up this year and no one said a hoot about it. What I think we might see, however, is that the number of projects may go down. They might not build that Malibu beach house right now, but decide to wait and look at it again next year."
Cali, who says he has an advertising budget of zero, is convinced that one of the most effective marketing techniques is to stay in relationships with reputable local architects and the highest-quality builders in your region. Cali courted one super-star architect by literally moving into the same building as his intended business partner.