Top Challenges Facing Elevator Contractors and How to Overcome Them

Running an elevator contracting business—whether focused on installation, maintenance, or modernization—comes with unique challenges. From safety concerns to labor shortages, understanding these obstacles and implementing effective solutions is key to running a successful elevator company.

This guide highlights the top challenges facing elevator contractors and practical strategies to overcome them while keeping your business protected with the right insurance coverage.

1. Labor Shortages and Skilled Workforce

One of the biggest hurdles in the elevator industry is finding certified elevator mechanics and skilled technicians.

Solutions:

• Partner with trade schools and apprenticeship programs.

• Offer competitive pay and benefits to attract experienced workers.

• Provide ongoing training to retain staff and ensure compliance with industry standards.

External reference: Learn more about workforce solutions from NAEC – National Association of Elevator Contractors.

2. Regulatory Compliance and Safety Standards

Elevator contractors must comply with OSHA regulations, state licensing requirements, and ASME safety codes (A17.1). Failure to comply can result in fines, lawsuits, or reputational damage.

Solutions:

• Conduct regular compliance audits.

• Train employees on safety and regulatory updates.

• Maintain detailed records of inspections and certifications.

3. Equipment and Maintenance Costs

Elevator installation and maintenance require specialized equipment, which can be costly. Maintaining and updating equipment is crucial for safety and efficiency.

Solutions:

• Create a preventative maintenance schedule.

• Invest in high-quality tools that reduce downtime.

• Consider financing options for expensive equipment upgrades.

4. Customer Expectations and Service Quality

Clients expect reliable and timely service, especially for maintenance contracts in commercial or residential buildings.

Solutions:

• Use software for scheduling, dispatch, and customer communication.

• Offer service level agreements (SLAs) to set clear expectations.

• Implement quality control checks after installations or maintenance work.

5. Liability and Risk Management

Elevator work carries inherent risks, from property damage to employee injuries. Without proper insurance, one accident can financially devastate your business.

Solutions:

• Secure comprehensive insurance coverage, including:

  • General Liability Insurance

  • Workers’ Compensation

  • Commercial Auto Coverage

  • Equipment and Property Insurance

  • Professional Liability Coverage

Protect your elevator business today. At Wexford Insurance, we specialize in helping elevator contractors across the nation find the right coverage.

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6. Technological Advancements and Modernization

The elevator industry is evolving with smart elevators, IoT monitoring, and eco-friendly systems. Staying current is necessary to remain competitive.

Solutions:

• Attend industry trade shows and conferences.

• Offer training on new technologies for your technicians.

• Upgrade your services to include modern elevator systems.

Final Thoughts

While owning and operating an elevator contracting business presents unique challenges, strategic planning, skilled staffing, regulatory compliance, and proper risk management can ensure long-term success.

By addressing these challenges proactively—and protecting your business with insurance from Wexford Insurance—you can focus on growing your company while minimizing risk.

Contact us today.

Frequently Asked Questions

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