Margins, Markups and Profits... Oh My!
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...