March 2003 Table of Contents

Start planning your exit strategy for succession

Gauthier holds control through V (voting) shares, while two employees, Bryan Beauchemin and Steve Podlich, hold N (non-voting) shares. His target of six potential partners is arbitrary, and his vice president, Beauchemin, will exert influence in hiring strong new employees so Gauthier has partners to buy his shares when he leaves. Read more

Mold may be biggest issue facing remodeling industry: mold is more troublesome than other hazards

Mold may be the biggest issue facing the remodeling industry. Five years ago, when Brothers Strong, in Houston, came across household mold in the course of a project, "you didn't even talk about it," recalls company owner Michael Strong. And panicky homeowners facing $35,000 or more in out-of-pocket expenses for mold remediation may decide to scale back or postpone the remodeling project that uncovered the mold in the first place. Read more

Blueprint for meeting profit goals

Paul Winans of Winans Construction, Oakland, Calif., agreed to reveal the methods he employs to produce high margins. A full 17 of the 20 jobs he does each year produce the high gross and net margins he considers vital to his success.To demonstrate how it all comes together, Winans agreed to examine a single project, Job X. The clients' names have been withheld to protect their privacy. Read more

Basement library addition for the overflow of books Basement library addition for the overflow of books

Two major remodeling jobs on a modernist house in sunny California elevate practical storage spaces to works of art. Read more

Plan ahead for retirement: make succession planning a priority

Without an exit strategy, remodelers may find retiring as difficult as staying in business. Remodeler Robbie Robinson is learning that if you expect your business to help pay for your retirement, you'd better plan ahead. Before deciding to pass it on, Robinson had planned to close down the company. Read more

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