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Showing posts from January, 2024

Margins, Markups and Profits... Oh My!

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Are you a Design Build Remodeling Business, Handyman Service, General Contracting, or Specialty Trade company, you need to ensure profitability.  Your company must ensure that profitability is baked into every project and every estimate. Successful  businesses use both margins and markups in their pricing to ensure profitability. The choice between using margins or markups in pricing can depend on specific business practices and standards within the remodeling industry.  Understanding how to calculate either margins or markups is crucial for achieving financial success in the construction industry. The first step, before margins or markups is to know your total job costs.    "If you don't know your costs, you are going out of business.... you just don't know it yet!"     - Business Mentor 1999   Accurate job costs are the result of an up to date cost book and a comprehensive estimating process.  Construction and Remodeling Estimatin...

Do You Need A Construction Management System

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Construction management software is streamlining and optimizing various aspects of construction projects from procurement of the initial sales lead to the project's final punchout list. Let's start with sales. There are no construction or remodeling projects without sales. Sales teams contribute directly to the financial success and growth of the business by actively pursuing and closing deals. Construction management software systems should include all the tools you need for customer acquisition and relationship building. This includes tools to help track and manage the process of lead generation, lead qualification, prospect nurturing, and finally conversion to customers. The heart of Construction Management Software is the estimating system. Software can make quick work of estimating and managing budgets for projects all while getting rid of those cumbersome spreadsheets. We can now effectively track expenses, manage changes orders, and monitor costs in real time ...