While it's true that remodeling is in better shape than the new-home market and that the slowdown has hit some areas and some companies harder than others, there's no denying that these are difficult times. Companies of all sizes and business models doing all types of work are affected. Remodelers...
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Tracking direct costs looks easy, but labor presents some sticking points. What, for instance, is to be done with labor costs for a production manager who spends part of each day on more than one jobsite?
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We write a lot about gross profit in this magazine, but judging from some of our survey results, a lot of readers are still fuzzy on the concept. The calculation is simple — gross profit equals revenue minus direct costs — but as with so many other financial concepts, the devil is in the details.
As varied as remodeling company owners are, they share several personality traits. Most are independent-minded and strong-willed, and they tend to keep their cards very close to their vests. But some are finding that open-book management has made their company more profitable and their employees...
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Ideally, you have a plan for maximizing your company's success in 2008. Ideally, your staff helped you create the plan, put it on paper, and roll it out in an all-company meeting
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Just as you rely on your car's gas gauge to alert you to the need to refuel before your tank is empty, the value of business metrics is their ability to expose potential problems before they become crises.
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The Internal Revenue Service offers updated optional standard mileage rates, used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
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I like telling my clients that when they go into one of my suggested sales centers, they will be given my price. However, I pass my dealer discounts on to them. I want them to see the prices I'm paying for their goods.
Remodelers around the country are finding the current economic climate difficult at best; most are scrambling to find ways to maintain what they had previously thought was secure — their net profit.
Any amount of slippage, if consistent, will quietly and effectively kill your year. Some slippage is just bad luck, but here are eight causes that you can control.