Business View Magazine May 2023

59 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 5 LOVLEY DEVELOPMENT INC “I think it is our management style and how we service our clients and the ease of doing business,” he reflects. “We use all the same vendors all the time,” Two of those vendors, Lovley points out, have been with them since the company opened nearly 40 years ago, Spargo for all the company’s plumbing needs, and Lyon Billard for building materials. “Although prices have gone up, our vendors didn’t gauge. They came in and showed me their old invoices and new invoices and explained the costs of covering materials and labor or insurance now. They want to help us keep our prices down.” Lovley has proven his construction muscle over the course of decades of specialized services and the intimate knowledge that is required to succeed in the local Connecticut market. How would he advise young contractors just starting out in the current volatile market? “It is very tough for anybody. We have talked about this through the Home Builders Association with a lot of guys who have been building as long as me,” he says. “Banks are tougher now. So, I think the biggest piece of advice would be to develop a solid banking relationship to be able to