A remodeling business can be extremely lucrative if all the necessary steps are taken to nurture and grow your business. Although competition is steep, there are ways to prove to your potential clients that the high-quality service your remodeling business offers is worth the cost.
If you want to learn how to grow your remodeling business and increase profitability, you need to re-evaluate your business strategy. You need to measure risks, track results, define a profit margin, and ultimately eliminate losses.
This eBook covers the most effective ways on how to grow your remodeling business.
- Pricing & rates
- Managing finances
- And more
Each chapter offers different solutions and guidelines that will help you put an effective business strategy in place to grow your remodeling business and increase profits.
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Sneak Peek – Pricing & Rates
There is no exact science to pricing a job. There are a number of factors to consider, and you need to think strategically in order to earn a reasonable profit.
First and foremost, you need to do some market research to find out what others in the industry are charging. You can contact professional organizations such as NARI, you can ask contractors, or you can attend networking events.
Once you’ve done your research, you can move onto estimating the cost of a job.
How long will the job take?
One of the first things to consider before pricing a job is estimating how long the job will take. Several weeks? Several months? It’s always best to determine your billable hours when taking on a new job so you know how much time and resources you’ll have to devote to it.
How much will you spend on materials?
Assuming you’re using high-quality materials, you need to figure out how much the job you’re taking on will cost in terms of materials. This cost should be fully covered by your client, and it’s important to let them know how much it will cost them so they are not met with unexpected charges down the road.
How much do you need to charge to break even?
The most important thing to consider before accepting a new client is making sure they are willing to cover the cost of all the expenses necessary for the work you are going to put in. Make sure your estimate covers the cost of labor, materials, and anything else you will be spending.
To learn more about how to grow your remodeling business, download our free eBook today!
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