Remodeling Mastery by Mark G. Richardson
We’re at a point where unemployment is low, stock marketing is strong, the scarcity of new homes is becoming less. It is definitely creating a buzz for remodeling. Just because there is a lot more demand doesn’t mean money is going to be thrown at you. The cost of remodeling projects today include, material cost, labor cost, subcontractor cost, over and business cost. The biggest challenge is seeing a rise in these costs as well.
If you are out there looking at a prospective projected and see that some things are starting to creep and cost you more and more then your profitability erode’s. Here are some tips…
- Increase your markups – some may not be used to your adjustments, so you want to do it quarterly.
- You want to start using more allowances. It might allow you to counterpart the cost increase.
- Make sure you are getting the pricing guarantee that they are telling you about. This allows more predictability.
- Your team wants to be happy. Make sure you have the right level of wages and a vision of happiness for growth within the company.
- Adjust to your relationship when you are out looking at new projects.
- It’s a team sport. Make sure you can discuss this with your team so you can hold others accountable for improvement.