A garage I went to subscribed to a trade magazine for towing and recovery companies and left the issues in the waiting room. Sure enough, they had a recovery of the year type of award.
They're cheaper to produce than a full-scale conference (needing just a 1 day hire of a hotel ballroom or similar) and are easy to sell - every business or team nominated for an award will pay for a table, as will various suppliers and vendors who see it as a great marketing opportunity.
on the other hand, I found it hilarious one of my father's old companies publicly sponsored a special new category of award at a legit-seeming construction event. You'll never guess who won...
So there are good use cases for capital if you are in that market.
I mean, you should... but there's still a lot of wiggle room on the way from doesn't meet modern code / never met code / shouldn't be done / is unsanitary or unsafe / will not work.
Residential electric is easier to do in ways that work but are either not to code or not to common best practice. The handier the previous owner was, the more new ways to do things you can learn. If a previous owner was in the trades and also heavily involved in the initial build, expect lots of weird repairs. :p