Victoria Downing, President, Remodelers Advantage Inc., co-author of Mastering the Business of Remodeling. Home of Remodelers Advantage Roundtables with over 200 members nationwide.
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Ed Lane, owner of Lane Homes and Remodeling in Richmond, Va., has his own community "ambassador" on staff."--Victoria Downing is president of Remodelers Advantage, Fulton, Md., (301) 490-5620, victoria@remodelersadvantage.com.
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Some business owners who aren't particularly strong in financial management rely on their office staff and outside consultants to help them understand and analyze the data that could have significance for their company. Walt Mathieson, CPA, and president of Mathieson Consulting, Brookeville, Md....
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Kitchen and bath companies have known for years that being a cabinet dealer offers tons of benefits. Now some full-line design/build companies are getting into the act. Jonas Carnemark, president of Carnemark systems + design, Bethesda, Md., recently discovered the difference that being a cabinet...
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Larry Parrish, Parrish Construction Company, Boulder, Colo., found a better way to fast track the process. The first step was giving the consultant all the paperwork Parrish could find, much of it collected from remodeler colleagues -- materials including everything from employee handbooks to...
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Steve Halt, CPA and president of accounting firm Halt, Thrasher & Buzas, Alexandria, Va., warns that credit lines are potentially dangerous tools for those who lack business savvy. Undercharging, poor job cost accounting, or overdue receivables are not good reasons to tap into a credit line.
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David Merrill, president of Merrill Contracting, Arlington, Va., has worked with architects for years -- and sometimes he would even get the jobs they asked him to consult on. Merrill decided to make a major change in the way he deals with the architects.
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The Reijnen Company in Bainbridge Island, Wash., focuses on very large, very complex remodeling and custom home projects. Because these resources are outside his direct control, Reijnen wanted to be sure that all of their subs and vendors clearly understood exactly what was expected of them.
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One of the biggest reasons remodeling companies don't make money is because job costs are greater than the amount estimated.
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Dave Bryan of Blackdog Builders, Salem, Mass., wants to more than double the size of his $4 million company in the next several years. --Victoria Downing is president of Remodelers Advantage, Fulton, Md. (301) 490-5620, victoria@remodelersadvantage.com.
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Every day, remodeling company owners struggle to find ways to improve the bottom line and build a sustainable company. According to recent research, the cost of hiring the wrong person could be as high as 10 times their salary.