"In 2009, we find ourselves leaner, more sophisticated, and 'creating our own stimulus package,'" wrote Dave Myers, general manager of J. Francis Co., in its e-newsletter of last week. In a wide-ranging and personable message, Myers went on to explain that JFC, which has remodeled homes and businesses in Pittsburgh for 21 years, had a strong 2008 but is "facing challenges." He writes, "... we have taken unprecedented steps to reduce our overhead costs, without impacting the craftsmanship that our customers say sets us apart from our competition. We are offering incentives to entice our customers to move forward with remodeling work."
I know from having spent time at the J. Francis Co. office that this is a dynamic, smart, and very well-respected company, and I wanted to know more about not only the overhead reductions, but also the unusual process of sharing them with clients.
"When appropriate, we have told customers about the reductions," Myers told me in an e-mail. It's an interesting way of helping clients know that the company is serious about giving them the best service for their money.
Here are some of the cost-cutting strategies J. Francis Co. is using:
Insurance: Put package out to bid, netting savings. Also, he says, "We are audited each year by our insurance carrier for workers' comp and business liability. This year we chose to dig into the numbers." Result: Myers learned that the insurer owes the company refunds for 2007 and 2008.
Cutting Job Costs:
"We know that our subcontractors are hurting for work as well," Myers says. "We are asking multiple suppliers in the same trade to bid jobs, and we're being 'public' about the need to bid not only based on quality of product, but service, timeline, and yes, price."
When bidding jobs, "we encourage subcontractors to visit the job's 'print room' to obtain the prints or to purchase them from the assigned vendor. This is almost a qualifier and in turn does not become our cost," he says.
Instead of assigning one lead carpenter to a job, where he or she remains every day, "We now float staff based on skills," Myers says, "and no longer guarantee to a customer that we will be on-site every day start to finish."
Thanks to Dave Myers and J. Francis Co. for sharing these strategies with the readers of Remodeling Online.