Restoration Business Coaching – The Profit Maker
RESTORATION BUSINESS COACHING
6-Month Coaching Plan – The Profit Maker
Make More Money Than Ever Before Managing Your Business Like A Pro!
Many business owners fail because they lose hope and lose sight of their dream and begin focusing on the wrong things. If you are a frustrated owner who finds your construction services just too much to handle I can help you! Many owners make too little profit, pay too much for their material and labor, and lose their sense of personal well being because of the many customer complaints and management problems they face when managing operations. I can help you change all of that and make the money you should while gaining the control you want.
Imagine if you were able to increase your overall profits by 20% – 30%. This would increase your cash flow, give you greater cash reserves, and perhaps bring back the joy you felt when you first started your business knowing you are doing a good job, making good money, and are back on top running your business like a pro!
Here is a description of the help you will receive from this 6-month Coaching Plan:
- I will assess the design, structure, and operation of your business with special attention to the major business divisions of administration, mitigation, construction, and sales and marketing. Special attention is given to the construction services division including identifying necessary personnel for where you are right now and who will be needed in the future to expand your capacity for even more work. I will help you determine reasonable compensation for each position based upon performance objectives, determine needed equipment, help you prepare subcontractor contracts, and build new relationships to support your growing construction work. I will help you with everything you need to know and do to effectively manage and grow this division of work.
- I will complete an internal assessment of personnel, policies, positions and compensation with recommendations for improvement or further develop
- You could earn 50% profit on every construction services job you do. I will show you how to achieve this through profit improving techniques in estimating, controlling material purchasing and labor co I will show you how to take control of your construction services and earn top profit margins on every job every time.
- I will give you immediate access to flooring and other material wholesalers who provide your materials at 35% – 50% below retail cost. This level of material savings along with locking in installation labor costs can earn you 45% – 50% profit on the flooring portion of every job you do. No more sending customers to local retailers where they spend every nickel you are allotted for their materials. By taking the showroom to them you can insure customers are getting quality materials that are deeply discounted for you. You will discover other profit producing programs for purchasing drywall, paint, roofing supplies, and many other materials commonly used on most damage repair jobs.
- Working together we will set profit margin benchmarks for each revenue source for your business. We will determine your typical per job profit margin and set steps to bring about immediate improvement where needed.
- I will help you insure that your estimators are not leaving money on the table. What difference would it make if you closed the back door to this profit killer? I will introduce you to internal Xactimate features and estimating practices that most estimators are completely unaware of that will insure the level of thoroughness and accuracy that makes you more money on every job. Imagine if your estimators were leaving just 5% of chargeable lines items off their estimates and the positive impact it would have on your business if you were able to reclaim those losses?
- More money is lost through a lack of control over material purchasing than any other single issue. It is not uncommon for your crew to purchase 15 sheets of drywall when the estimate allows for only 10; or pay $35 a gallon for paint when the estimate pays you only $26; or buy a $200 sink for which you are paid only $95? I will introduce you to Xactimate features that will enable you to take control of material purchasing insuring huge savings on every job every time.
- Customer change orders can easily get out of contro Many estimators and project managers don’t know how to complete proper change orders. This oftentimes results in the company paying more or doing more work for your customers because you don’t know how to use change orders? I will show you how to take control of your change orders so that you are not paying for someone else’s dream or upgrade.
- You’d be hard pressed to find a business owner who didn’t believe cash flow was one of their biggest and most pressing problems. It is one of the clearest indicators of success or distress and of operational excellence or dysfunction. I will help you implement a multi-faceted system that can help you solve your cash flow chaos once and for all. The biggest issue most contractors face is not over-spending, but rather not getting paid soon enough for work completed resulting in a financial float that gets to be more and more and more until it is unbearable. I will show you how to get your first construction draw at the start of the job instead of waiting until you are done before you see your first cash. I will help you squash excess spending, effectively navigate the mortgage company maze, and get your final payment on time instead of waiting for months.
- Don’t accept bids from subcontractors! If you do you are paying too much for your labor. I can show you how to take control of labor costs without upsetting or losing your subcontractors, and lock in your profit achieving 50% profit per job every time for your construction work. Life is so much better when you have the cash flow to support your business and not worry each week as payroll approaches.
- Stop paying subcontractors an hourly wag Contractors are known for milking the clock and costing you money when paid hourly. I will show you how to use Xactimate to determine a per job approach to labor that will encourage worker efficiency that will actually increase their hourly rate making them more money than ever before and at the same time locking in your profit. Say “NO” to hourly wages and “YES” to paying by the job every time!
- Roofing is the General Contractors best and most overlooked opportunity for a major boost to sales. In the past 10 years roofing has become a high priority for TPAs and preferred contractor programs, and has produced dramatic increases in claims volume for program contractor. Most insurance carriers now send their roofing claims through their TPA programs directly to preferred General Contractors. You can get in on the revenue and profit surge roofing provides by adding this construction niche to your service offerings.
- Do you want to earn top dollar on each construction job? What difference would this make in your cash flow, cash reserves, and personal wealth? You can, and should, and you can start now!
- You will have unlimited access to The Restoration Entrepreneur Network (hosted on LinkedIn) peer-to-peer learning community. You will have access to company owners who working hard at growing their businesses with whom you can ask any question you want, as well as learn from the questions and answers others are sharing back and forth. Learning from other practitioners is a valuable opportunity you don’t want to miss out on.
- Financial statements and controls will be reviewed to insure good management practices are in place for Accounts Payable management, credit card usage, job costing procedures and practices, material purchasing controls and Accounts Receivable procedures including mortgage company payment processing procedures.
- Imagine the benefit of having a personal trainer available to you to answer any question about any issue you face including restoration industry technicals of drying and construction. How do you resolve issues with problem homeowners, or adjusters, or employees? Do you need insight into how to deal with a particular problem for which you are unclear which response to choose? How many times have you wished you had available an experienced restoration expert who could weigh in on a critical decision you must make? Now you can have all of the help you need for any issue you want help with through The Profit Maker. What could be more life changing than this!
- For many business owners the best place to start in earning more money is to improve internal operational efficiencies that increase cash flow and profit. Close the door to profit-killers and keep more of the money you have already earned.
All of this and so much more completes the services offered through The Profit Maker
AVAILABLE COACHING PLANS:
9 MONTH COACHING PLANS
- THE BUSINESS TRANSFORMER
Double, Even Triple Your Business in 18 – 24 Months
- THE STARTUP IGNITER
Race to Success with Rock-Solid Sales Sources and a Ready-for-Growth Business Foundation
- THE RETIREMENT ACHIEVER
Maximize Your Business Sale and Cross Over into Retirement with Financial Security
6 MONTH COACHING PLANS
- THE REVENUE GENERATOR
The Ultimate Revenue Booster for Your Business Sales Growth
- THE SALES DOUBLER
Fast Track Your Company’s Growth by Becoming a Full-Service Industry Leader
- THE PROFIT MAKER
Make More Money Than Ever Before Managing Your Business Like a Pro!
3 MONTH COACHING PLANS
- THE CASH FLOW ACCELERATOR
Blow the Lid Off Your Cash Flow Chaos
- THE ESTIMATOR EXTRAORDINAIRE
Creating Excellence and Higher Profits in Estimating
- THE RAIN-MAKER
Nail It—Make Your Next Million in Roofing
CUSTOMIZED COACHING PLANS
- THE BUSINESS BUYER’S EDGE
Make the Absolute Best Decision Buying the Perfect Business for You
- THE WEALTH BUILDER
Increase Your Personal Wealth with a Net Profit Explosion
- THE BUSINESS CUSTOMIZER
100% Customized Plan for the Pursuit of Business Excellence
Contact me TODAY and let’s get started!
Restoration Business Coaching – The Business Transformer
RESTORATION BUSINESS COACHING
Plan D – The Business Transformer
Double, Even Triple Your Business in 18 – 24 Months
Some full-service restoration owners are uniquely prepared to make the commitments to the strategies necessary to transform their business taking it to new levels of growth and prosperity. Accelerating revenue, improving operational efficiencies, gaining greater profits, and increasing personal wealth will change your business and your life. This is the premiere plan that provides ALL the skills, strategies and tools available to you to achieve the greatest overall results in transforming your business into an award-winning, hyper-growth company.
The entire Restoration Entrepreneur University Management Services Series is available through this plan and is customizable to meet any business need or interest.
This plan includes but is not limited to the following:
Increase Your Company’s Revenue
- Available only through The Restoration Entrepreneur you will be introduced to ALL 8 National Third Party Administrators (TPA) who manage the bulk of insurance property claims volume. I will provide you with the right contact for your company, coach you on how to make the most positive and impressive first impression, how to navigate the application process, inform you what most interests each TPA in reviewing contractor applications, and walk you all the way through to program selection. My client contractors typically are activated for three or four TPA programs during the first 120 days and many begin receiving assignments within 30 days of first contact. For those TPAs that don’t activate your company immediately I will show you how to work around the barriers that hinder activation in order to help accelerate your company’s selection.
- You will be introduced to three Government Agencies that work in your community, and who provide homeowner grants ranging in size from $7,000 — $10,000 — $70,000. Each agency is searching for dependable and quality contractors to which they send referrals. You could become one of those privileged contractors receiving these fast paying high quality referrals for customers who already have money in hand, and possess a strong determination and need to complete their remodel quickly!
- I will introduce you to referral sources that can result in $1 million or more of fire services available right now in your community. What would it mean to you if you began receiving referrals from local fire departments, law enforcement agencies, and first responder services who invite you inside the protected area of the incident? Say NO to fire chasing, and YES to referrals from local fire referral sources.
- For those contractors who are interested in expanding their fire services you can design and implement a customized marketing campaign for pack-outs and contents processing services as suggested in Designing a State-of-the-Art Contents Processing Center. Providing both reconstruction and contents cleaning services marks a contractor as a true fire services provider. This option is offered for immediate implementation for interested contractors, or can be added at any time during the duration of this agreement.
- You will learn the secrets of on trend marketing strategies that really work in getting more work from local professionals in your community such as insurance agents, plumbing contractors, HVAC contractors, Industrial Hygienists, commercial property managers, and realtors. More insurance loss referrals are made outside of insurance programs than through them. You will learn how to secure more of this work for your company than ever before.
- If you want to jumpstart and fast track increased sales growth this is the way to do it. Each one of these sources could be sending work directly to you. Not leads that you have to go out and sell, but referrals and assignments that result in the highest possible capture rates.
- My company did $5 million of revenue per year comprised of nearly 800 jobs. The majority of our work came directly to us by insurance carriers through TPAs. How could you possibly create a marketing process that would produce that many assignments and do it year after year? Every fast growing large restoration company I know has made their mark largely by contribution of insurance program work. Imagine what direct assignments could mean to you as the number of carriers grows year after year.
- Diversifying your revenue sources will protect you from over dependence upon a single source of sales revenue. Adding referral sources from government agencies, local fire service providers and local industry professionals will build a broad and strong revenue base shielding you from unexpected changes in
Improve & Protect Your Company’s Profit
While the entire business operation is assessed in search of profit killers special attention is given to the construction services division of the company’s operation since this is the area of greatest complexity and where most profit killers hide.
- I will assess the design, structure, and implementation of the construction services division including identifying necessary personnel for where you are right now and who will be needed in the future to expand your capacity for even more work. I will help you determine reasonable compensation for each position based upon performance objectives, determine needed equipment, help you prepare subcontractor contracts, and build new relationships to support your growing construction work. I will help you with everything you need to know and do to effectively manage and grow this division of work.
- I will complete an internal assessment of personnel, policies, positions and compensation with recommendation for improvement or further development.
- You could earn 50% profit on every construction services job you do. I will show you how to achieve this through profit improving techniques in estimating, controlling material purchasing and labor costs. I will show you how to take control of your construction services and earn top profit margins on every job every time.
- I will give you immediate access to flooring and other material wholesalers who provide your materials at 35% – 50% below retail costs. This level of material savings along with locking in installation labor costs can earn you 45% – 50% profit on the flooring portion of every job you do. No more sending customers to local retailers where they spend every nickel you are allotted for their materials. By taking the showroom to them you can insure customers are getting quality materials that are deeply discounted for you. You will discover other profit producing programs for purchasing drywall, paint, roofing supplies, and many other materials commonly used on most damage repair jobs.
- Working together we will set profit margin benchmarks for each revenue source for your business. We will determine your typical per job profit margin and set steps to bring about immediate improvement where needed.
- I will help you insure that your estimators are not leaving money on the table. What difference would it make if you closed the back door to this profit killer? I will introduce you to internal Xactimate features and estimating practices that most estimators are completely unaware of that will insure the level of thoroughness and accuracy that makes you more money on every job. Imagine if your estimators were leaving just 5% of chargeable lines items off their estimates and the positive impact it would have on your business if you were able to reclaim those losses?
- More money is lost through a lack of control over material purchasing than any other single issue. It is not uncommon for your crew to purchase 15 sheets of drywall when the estimate allows for only 10; or pay $35 a gallon for paint when the estimate pays you only $26; or buy a $200 sink for which you are paid only $95? I will introduce you to Xactimate features that will enable you to take control of material purchasing insuring huge savings on every job every time.
- Customer change orders can easily get out of control. Many estimators and project managers don’t know how to complete proper change orders. This oftentimes results in the company paying more or doing more work for your customers because you don’t know how to use change orders? I will show you how to take control of your change orders so that you are not paying for someone else’s dream or upgrade.
- Don’t accept bids from subcontractors! If you do you are paying too much for your labor. I can show you how to take control of labor costs without upsetting or losing your subcontractors, and lock in your profit achieving 50% profit per job every time for your construction work. Life is so much better when you have the cash flow to support your business and not worry each week as payroll approaches.
- Stop paying subcontractors an hourly wage. Contractors are known for milking the clock and costing you money when paid hourly. I will show you how to use Xactimate to determine a per job approach to labor that will encourage worker efficiency that will actually increase their hourly rate making them more money than ever before and at the same time locking in your profit. Say “NO” to hourly wages and “YES” to paying by the job every time!
- Do you want to earn top dollar on each construction job? What difference would this make in your cash flow, cash reserves, and personal wealth? You can, and should, and you can start now!
- You will have unlimited access to The Restoration Entrepreneur Network (hosted on LinkedIn) peer-to-peer learning community. You will have access to company owners who working hard at growing their businesses with whom you can ask any question you want, as well as learn from the questions and answers others are sharing back and forth. Learning from other practitioners is a valuable opportunity you don’t want to miss out on.
- All of this and so much more completes the services offered through The Business Transformer. Financial statements and controls will be reviewed to insure good management practices are in place for Accounts Payable management, credit card usage, job costing procedures and practices, material purchasing controls and Accounts Receivable procedures including mortgage company payment processing procedures.
- Imagine the benefit of having a personal trainer available to you to answer any question about any issue you face including restoration industry technicals of drying and construction. How do you resolve issues with problem homeowners, or adjusters, or employees? Do you need insight into how to deal with a particular problem for which you are unclear which response to choose? How many times have you wished you had available an experienced restoration expert who could weigh in on a critical decision you must make? Now you can have all of the help you need for any issue you want help with through The Business Transformer. What could be more life changing than this!
- For many business owners the best place to start in earning more money is to improve internal operational efficiencies that increase cash flow and profit. Close the door to profit-killers and keep more of the money you have already earned.
Available Plans:
Plan A – THE REVENUE GENERATOR
The Ultimate Revenue Booster for Your Business Sales Growth
Plan B – THE SALES DOUBLER
Fast Track Your Company’s Growth by Becoming a Full-Service Industry Leader
Plan C – THE PROFIT MAKER
Make More Money Than Ever Before Managing Your Business Like a Pro!
Plan D – THE BUSINESS TRANSFORMER
Double, Even Triple Your Business in 18 – 24 Month
Plan E – THE WEALTH BUILDER
Increase Your Personal Wealth with a Net Profit Explosion
Plan F – THE STARTUP IGNITER
Race to Rapid Success with Rock-Solid Sales Sources and a Ready-for-Growth Business Foundation
Plan G — THE RETIREMENT ACHIEVER
Maximize Your Business Sale and Cross Over into Retirement with Financial Security
Plan H — THE BUSINESS BUYER’S EDGE
Make the Absolute Best Decision Buying the Perfect Business for You
Plan I — THE BUSINESS CUSTOMIZER
100% Customized Plan for the Pursuit of Business Excellence!
Contact me TODAY and let’s get started!
Restoration Business Coaching – The Business Buyer’s Edge
RESTORATION BUSINESS COACHING
Plan H – The Business Buyer’s Edge
Make the Absolute Best Decision Buying the Perfect Business for You
Are you considering buying a business? Researchers tell us that 93% of small business buyers have never operated, bought or sold a business before. Imagine that – this is perhaps the most life-changing financial decision that one will ever make and the buyer has no previous experience in the matter. If that doesn’t scare you I don’t know what would.
What does a buyer need to know and understand about a business before they sink their hard earned cash into a purchase? Brokers tell us that sellers should spend two years or more getting their business ready to sell for a top dollar sale. Buyers must also take time to put into place a viable process that will lead them to a quality company and a good buying decision. Acquiring a business is so much more than simply agreeing on the sales price. A buyer must understand the Company’s history, its operation, its sources of revenue, its performance trends, its personnel, its financials, as well as its potential future performance and growth opportunities.
Buyers should understand that business brokers are not the same as business coaches. Brokers are committed to one thing – the sale of the business. Few brokers have ever owned a restoration business and most don’t specialize in this unique industry. It is easy in a transaction like this for the Buyer, who themselves may have little firsthand experience in the industry, to not fully understand what information is available and needed for a comprehensive due diligence. This is the primary reason why The Business Buyer’s Edge and The Restoration Entrepreneur are so vital to you.
We are expert practitioners having operated a remarkable company that doubled in size every 1.4 years over a decade of work and consistently demonstrated industry best practices. We are experienced successful practitioners in the industry whose only motivation is to help Buyers make the best decision possible as they evaluate businesses for purchase.
This is what we will do for you. The Business Buyer’s Edge provides prospective buyers with an Initial Information and Final Due Diligence Checklist comprised of 16 categories of information and 120 items of disclosure. This comprehensive list arms buyers with all the relevant information about every key aspect of the business. With The Business Buyer’s Edge you can make the best buying decision for you and your future.
The cost is affordable and our contribution to your buying decision could make a lifetime of difference. The Business Buyer’s edge serves you the Buyer interpreting and assessing information that ranges from assets to financial reviews to business development. There is no need to go it alone when you can add the experts at The Restoration Entrepreneur to your team!
Available Plans: Discounts are available for multiple Plan options
Plan A – THE REVENUE GENERATOR
The Ultimate Revenue Booster for Your Business Sales Growth
Plan B – THE SALES DOUBLER
Fast Track Your Company’s Growth by Becoming a Full-Service Industry Leader
Plan C – THE PROFIT MAKER
Make More Money Than Ever Before Managing Your Business Like a Pro!
Plan D – THE BUSINESS TRANSFORMER
Double, Even Triple Your Business in 18 – 24 Months
Plan E – THE WEALTH BUILDER
Increase Your Personal Wealth with a Net Profit Explosion
Plan F – THE STARTUP IGNITER
Race to Rapid Success with Rock-Solid Sales Sources and a Ready-for-Growth Business Foundation
Plan G – THE RETIREMENT ACHIEVER
Maximize Your Business Sale and Cross Over into Retirement with Financial Security
Plan H — THE BUSINESS BUYER’S EDGE
Make the Absolute Best Decision Buying the Perfect Business for You
Plan I — THE BUSINESS CUSTOMIZER
100% Customized Plan for the Pursuit of Business Excellence!
Contact me TODAY and let’s get started!
Restoration Business Coaching – The Sales Doubler
RESTORATION BUSINESS COACHING
6-Month Coaching Plan – The Sales Doubler
Fast Track Your Company’s Growth By Becoming a Full-Service Industry Leader
If you want to reach your company’s true growth potential adding construction services to your restoration business is a MUST. You can grow the multi-million dollar company you have always dreamed of having. If you are not offering construction services NOTHING will add more revenue and generate greater profits for your business growth than adding this vital revenue generator and profit maker.
Most mitigation-only companies never grow beyond the $1 million mark. The reason is that it takes so many jobs to reach this high level mark that it becomes nearly impossible to consistently gain the number of jobs needed to grow beyond it. Let me show you what I mean.
The average mitigation job in the U.S. is $2,500. That means a company needs to complete approximately 400 jobs annually to earn $1 million of revenue. That is not easy to do. Imagine what it would take to annually secure 600 water jobs to reach $1.5 million.
In the U.S. the average build back construction job is $10,000. If you do 400 mitigation jobs and earn $1 million in mitigation services imagine what would happen if you captured 90% of those jobs for build back services. That would be 360 jobs that could yield $3.6 million in construction revenue. Now do you see why I say that this is the single biggest revenue generator you have available to you to grow your business? If you achieve a per job profit of 50%, which I can also help you consistently do, you would produce $1.8 million in profit. That is nearly double the total revenue from mitigation only.
Absolutely amazing!! Hands down, if you are a mitigation only contractor adding construction services will transform your business – and your life.
Many owners shy away from this profit generator because they are told all the wrong things by others. You may have heard it said that construction margins are too thin, the work is too hard, it is too much trouble, or your franchisor is against it? Don’t listen to that – you can do it and I can help you.
Here is a description of the help you will receive from this 6-month Coaching Plan:
- I will assess the design, structure, and operation of your business with special attention to the major business divisions of administration, mitigation, construction, and sales and marketing. Special attention is given to the construction services division including identifying necessary personnel for where you are right now and who will be needed in the future to expand your capacity for even more work. I will help you determine reasonable compensation for each position based upon performance objectives, determine needed equipment, help you prepare subcontractor contracts, and build new relationships to support your growing construction work. I will help you with everything you need to know and do to run and grow this new division of work.
- I will provide you with guidance, assistance and support through every step of establishing, running and growing this division. Even if you have no personal experience in construction services I will help you successfully add this service offering to your company.
- I will complete an internal assessment of personnel, policies, positions and compensation with recommendation for improvement or further development.
- You could earn 50% profit on every construction services job you do. I will show you how to achieve this through profit improving techniques in estimating, controlling material purchasing and labor co I will show you how to take control of your construction services and earn top profit margins on every job every time.
- I will give you immediate access to flooring and other material wholesalers who provide your materials at 35% – 50% below retail costs. This level of material savings along with locking in installation labor costs can earn you 45% – 50% profit on the flooring portion of every job you do. No more sending customers to local retailers where they spend every nickel you are allotted for their materials. By taking the showroom to them you can insure customers are getting quality materials that are deeply discounted for you. You will discover other profit producing programs for purchasing drywall, paint, roofing supplies, and many other materials commonly used on most damage repair jobs.
- Working together we will set profit margin benchmarks for each revenue source for your business. We will determine your typical per job profit margin and set steps to bring about immediate improvement where needed.
- I will help you insure that your estimators are not leaving money on the table. What difference would it make if you closed the back door to this profit killer? I will introduce you to internal Xactimate features and estimating practices that most estimators are completely unaware of that will insure the level of thoroughness and accuracy that makes you more money on every job. Imagine if your estimators were leaving just 5% of chargeable lines items off their estimates and the positive impact it would have on your business if you were able to reclaim those losses?
- More money is lost through a lack of control over material purchasing than any other single issue. It is not uncommon for your crew to purchase 15 sheets of drywall when the estimate allows for only 10; or pay $35 a gallon for paint when the estimate pays you only $26; or buy a $200 sink for which you are paid only $95? I will introduce you to Xactimate features that will enable you to take control of material purchasing insuring huge savings on every job every time.
- Customer change orders can easily get out of control. Many estimators and project managers don’t know how to complete proper change orders. This oftentimes results in the company paying more or doing more work for your customers because you don’t know how to use change orders? I will show you how to take control of your change orders so that you are not paying for someone else’s dream or upgrade.
- Don’t accept bids from subcontractors! If you do you are paying too much for your labor. I can show you how to take control of labor costs without upsetting or losing your subcontractors, and lock in your profit achieving 50% profit per job every time for your construction work. Life is so much better when you have the cash flow to support your business and not worry each week as payroll approaches.
- Stop paying subcontractors an hourly wage. Hourly construction workers are known for milking the clock and costing you money. I will show you how to use Xactimate to determine a per job approach to labor that will encourage worker efficiency that will actually increase their hourly rate making them more money than ever before and at the same time locking in your profit. Say “NO” to hourly wages and “YES” to paying by the job every time!
- Do you want to earn top dollar on each construction job? What difference would this make in your cash flow, cash reserves, and personal wealth? You can, and should, and you can start now!
- Roofing is the General Contractors best and most overlooked opportunity for a major boost to sales. In the past 10 years roofing has become a high priority for TPAs and preferred contractor programs, and has produced dramatic increases in claims volume for program contractors. Most insurance carriers now send their roofing claims through their TPA programs directly to preferred General Contractors. You can get in on the revenue and profit surge roofing provides by adding this construction niche to your service offerings.
- You’d be hard pressed to find a business owner who didn’t believe cash flow was one of their biggest and most pressing problems. It is one of the clearest indicators of success or distress and of operational excellence or dysfunction. I will help you implement a multi-faceted system that can help you solve your cash flow chaos once and for all. The biggest issue most contractors face is not over-spending, but rather not getting paid soon enough for work completed resulting in a financial float that gets to be more and more and more until it is unbearable. I will show you how to get your first construction draw at the start of the job instead of waiting until you are done before you see your first cash. I will help you squash excess spending, effectively navigate the mortgage company maze, and get your final payment on time instead of waiting for months.
- You will have unlimited access to The Restoration Entrepreneur Network (hosted on LinkedIn) peer-to-peer learning community. You will have access to company owners who working hard at growing their businesses with whom you can ask any question you want, as well as learn from the questions and answers others are sharing back and forth. Learning from other practitioners is a valuable opportunity you don’t want to miss out on.
- All of this and so much more completes the services offered through The Sales Doubler. Financial statements and controls will be reviewed to insure good management practices are in place for Accounts Payable management, credit card usage, job costing procedures and practices, material purchasing controls and Accounts Receivable procedures including mortgage company payment processing procedures.
- Imagine the benefit of having a personal trainer available to you to answer any question about any issue you face including restoration industry technicals of drying and construction. How do you resolve issues with problem homeowners, or adjusters, or employees? Do you need insight into how to deal with a particular problem for which you are unclear which response to choose? How many times have you wished you had available an experienced restoration expert who could weigh in on a critical decision you must make? Now you can have all of the help you need for any issue you want help with through The Sales Doubler. What could be more life changing than this!
AVAILABLE COACHING PLANS: 9 MONTH COACHING PLANS
- THE BUSINESS TRANSFORMER
Double, Even Triple Your Business in 18 – 24 Months
- THE STARTUP IGNITER
Race to Success with Rock-Solid Sales Sources and a Ready-for-Growth Business Foundation
- THE RETIREMENT ACHIEVER
Maximize Your Business Sale and Cross Over into Retirement with Financial Security
6 MONTH COACHING PLANS
- THE REVENUE GENERATOR
The Ultimate Revenue Booster for Your Business Sales Growth
- THE SALES DOUBLER
Fast Track Your Company’s Growth by Becoming a Full-Service Industry Leader
- THE PROFIT MAKER
Make More Money Than Ever Before Managing Your Business Like a Pro!
3 MONTH COACHING PLANS
- THE CASH FLOW ACCELERATOR
Blow the Lid Off Your Cash Flow Chaos
- THE ESTIMATOR EXTRAORDINAIRE
Creating Excellence and Higher Profits in Estimating
- THE RAIN-MAKER
Nail It—Make Your Next Million in Roofing
CUSTOMIZED COACHING PLANS
- THE BUSINESS BUYER’S EDGE
Make the Absolute Best Decision Buying the Perfect Business for You
- THE WEALTH BUILDER
Increase Your Personal Wealth with a Net Profit Explosion
- THE BUSINESS CUSTOMIZER
100% Customized Plan for the Pursuit of Business Excellence
Contact me TODAY and let’s get started growing your business!
How to Start a Restoration Company Current Trends
Every industry is impacted by the ebb and flow of the tides of change. This is true in the restoration industry too. Understanding these trends and getting into the flow is essential to success in starting a restoration company.
There are three seismic shifts occurring in the restoration industry and each one should be given a substantial place in the planning for and eventual launch of your restoration business.
Trend #1 – A movement by insurance carriers to Third Party Administrators to manage their claim volume
This trend has been underway for a decade and continues to increase. Four years ago American Family shut down their internal Home Repair Program (rebuild) and their water mitigation programs and turned over the primary claims management to Contractor Connection. More recently Farmers Insurance Group has done the same thing dividing their claims volume among three of the eight National Third Party Administrator Networks.
Yes, there are eight national third party administrator networks and they manage claims for the vast majority of insurance carriers. Ten years ago most top tier carriers fielded a cadre of adjusters in most major metropolitan communities of our nation. Today, in an effort to cut costs these same carriers utilize the services of TPAs to manage their claims volume. The day of local adjusters passing claims to their favorite contractors are largely over. Either you are on the inside of one or more TPAs and getting the benefit of direct claims assignments or you are on the outside wishing you were in.
There is no better growth step to take than to become a program contractor. The volume of work offered through each TPA varies though each one typically manages claims for more than one carrier. Their direct assignments to your company can make you a dominant company in your marketplace. Success breeds success and being a program contractor for various TPAs and insurance carriers can be a powerful marketing force as you seek to build additional referral relationships.
Trend #2 – A movement toward full-service contractors who provide both mitigation and rebuild services
Most customers want to make one call to one contractor who can provide all the services needed to complete their repairs. When a mitigation contractor shows up at the front door of a homeowner standing ankle deep in water and is told that the contractor is there only to do the water extraction and the homeowner must find their own general contractor for the repairs – watch out! The sparks could fly. So I ask you – if the customer wants you to do it all why not do it!
Our culture values customer convenience. In the restoration industry this could translate into a huge plus for the restoration contractor who chooses to become full service rather than remaining mitigation only.
Let’s let the numbers speak for themselves.
- The typical mitigation only company generates about $600,000 of annual revenue. With the typical mitigation job in the U.S. coming in at about $2500 in revenue we can see that this equals approximately 240 mitigation jobs annually.
- If the full-service contractor secured the rebuild for each of those 240 mitigation jobs that would generate about $2.4 million in revenue since the average rebuild is about $10,000. If the contractor was doing a good job with their operational efficiency and earned a 50% profit off the rebuild services, they would produce approximately $1.4 million in profit. WOW!
- If you feel this is too good to be true imagine securing only 75% of the construction work on mitigation jobs completed and you still generate revenue of $1.8 million and profit of $900,000.
This movement to full-service is an industry trend and it is good news for restoration contractors. The truth is that it is really not that hard to add construction services even if the owner does not have a personal construction background. You just need a good coach who can show you what to do and help you along the way.
Trend #3 – A movement by contractors toward referral sources to accelerate sales growth
The bulk of insurance related damage repair claims is consolidating around a small number of referral sources. These are groups that controls who gets the call when damage occurs. Many contractors try to gain direct access to damage repair customers through the internet but most of these efforts produce little in terms of actual results.
When restoration contractors use the internet as a focus of their marketing they need to understand that they have a lot of companies competing for the attention of internet accessible customers. This produces two results; first it makes the service very expensive due to the number of competitors using these services, and second it produces poor results because the limited number of internet accessible customers have a lot of contractors to choose from.
Most customers who are ankle deep in water don’t pull out their smartphones to scour the internet looking for service providers they are entirely unfamiliar with. Most potential customers call one of three individuals when damage occurs:
- They call a plumber – “Turn off my running water!” Plumbers come in contact with running water nearly every day of their work. How much work might you get in a year with just a handful of plumbers putting you in immediate touch with a homeowner who needs water extraction once the flow of water stops?
- They call their insurance agent – “Please help me.” What value would it be to you if the agent made a call to you or offered your name to their client?
- They call the 800 number for their insurance carrier to report a claim – “What do I do now?” Since nearly ALL insurance carriers manage their claims through a Third Party Administrator like Contractor Connection or Alacrity this call will lead to an immediate assignment to one of the TPAs preferred contractors for immediate dispatch.
It is important to understand these three sources represent the bulk of referrals to restoration contractors, and that these referrals are initiated by the customer seeking help from a trusted source of help. It makes sense to build marketing strategies around gaining influence among these three professional groups for maximum effectiveness.
Two other sources of referrals are local government agencies and local opportunities to partner with fire department districts.
In every community in the U.S. three government agencies make regular grants to homeowners for aging-in-place modifications. These grants range in size from $7,000 – $70,000. My company performed about $500,000 of work each year for these agencies. Becoming a preferred contractor for these agencies could add a nice boost in revenue and diversification to your referral sources.
In many communities there are opportunities to work side-by-side with local fire departments in order to provide victim assistance and board-up services. This may also lead to an opportunity to be the contractor for the rebuild services too.
As with most opportunities you need to know they exist and how to access them. Most contractors don’t know either and so they remain on the outside and never become aware of some of the best growth opportunities available to them in their marketplace.
It is important to understand the restoration industry trends. Like with most trends if you try to buck the headwind you will likely not succeed. If you get into the flow you may discover opportunities that could dramatically change your business.
As a top industry business coach I help restoration businesses accelerate their top line revenue growth and improve and protect their bottom line profit growth. Visit my website today where you will find over 50 blogs, podcasts and webinars on topics related to growing your restoration business. You will find a Coaching Plan that is uniquely focused on the growth needs your company faces. You will also find two FREE eBooks titled HOW TO GROW YOUR RESTORATION BUSINESS and STOP YOUR PROFIT KILLERS DEAD IN THEIR TRACKS.
There is a lot of support available to help you gain additional traction and develop the operational design to succeed and thrive as you continue growing your restoration business.
Visit me at www.growmyrestorationbusiness.com or call me for a FREE 30 Minute Consultation at 800.655.1598.
How to Grow Your Restoration Company by Improving Profits
In the first blog of this three part series on How to Grow Your Restoration Business I spoke about accelerating top line revenue. In this blog I want to focus on the flip side of the “how to grow your restoration company” coin by focusing on improving profits. I personally remain convinced that your greatest and simplest wealth growth will come from profit growth, not revenue generation.
Every restoration owner wants to build the multimillion dollar business they have always dreamed of having. They want cash flow sufficient to run their business without worry. They want cash reserves necessary to undergird their business development plans to grow their business. They want to increase their personal wealth by taking money out of the business for retirement and personal investing.
There are ONLY two ways to make the money needed to support cash flow, cash reserves, and personal wealth and they are to accelerate top line revenue growth and improve and protect the bottom line profit growth. Revenue and profit are the only mechanisms to make money in business.”
Improving and Protecting Bottom Line Profit
Many business owners fail because they lose hope and lose sight of their dream and begin focusing on the wrong things. Many owners make too little profit, pay too much for their material and labor, and lose their sense of personal wellbeing over the many customer complaints and management problems they face when managing construction operations. Many full-service restoration business owners find that their construction services are just too much to handle, and failing to take control of the operation leads to a sizeable loss of profit.
Imagine if you were able to increase your overall profits by 20% – 30%. This would increase your cash flow, give you greater cash reserves, and perhaps bring back the joy you felt when you first started your business knowing you are doing a good job, making good money, and are back on top running your business like a real pro!
What are the strategies that can help you take control of your operation and improve your profit margins?
Strategy #1 – Set profit goals for every revenue source in your operation
The mere act of setting a profit goal for mitigation, reconstruction, roofing, contents cleaning and so on sets in place a target that demands your attention. Your goal becomes a benchmark against which you can assess your success. Did you make it or not? If not, why not and what changes need to be made to reach the goal going forward?
Having the right profit margin goal is the first step, assessing how well you are doing is the second, and making needed changes to do better is the third.
What profit margin goals should you set?
- Mitigation – 75%
- Contents Cleaning – 65%
- Reconstruction – 50%
- Roofing – 40%
These aren’t unrealistic goals. They actually represent what my company regularly achieved in each of those service areas. As a business coach I now teach contractors how to achieve these benchmarks and it actually works for them too.
Strategy #2 – Use wholesale distributors for the bulk of your building material purchases
Many contractors would no doubt say that they would if they could but they don’t know where to find these profit making wholesalers.
I can tell you that you can access wholesale flooring from Shaw Industry distributors who are the same distributors selling to your local retailers. Buying directly using wholesale outlets saves you 35% – 50% on the single largest line item on most damage repair estimates.
I spoke recently to a restoration business owner in San Francisco. We checked his Xactimate price list to see what he was being paid for average grade carpet (FCC AV). The Xactimate pricing was $21.99 SY. Buying through an available Shaw carpet industries wholesale distributor this same average grade carpet costs $11.99 SY. That is a 46% savings. WOW!
Every time a contractor sends a customer to a local retailer the customer asks, “How much do I have to spend?” When you tell them the insurance company will pay up to $21.99 SY what do you think will happen? They will spend every penny and then some – every time!
This example illustrates the importance of taking the showroom to the customer. You offer multiple presentation boards of carpet full of color and texture choices that you buy at wholesale prices and lock in huge profits. If you send your customers to a retailer’s showroom you will lose your entire profit potential and the retailer will reap the profit that could be yours.
Finding wholesalers is the key to making money in business. You make money when you buy materials for less than you are paid. Flooring represents only one common material of the many that are available to each and every contractor through wholesale sources. You just need to know where to look.
Strategy #3 – Improve your estimating practices
When asked most restoration contractors readily acknowledge that their estimators leave money on the table every day of the week but are themselves helpless to figure out exactly where.
Most construction estimators are self-trained in Xactimate. They are valuable to the owner because they know construction but too often they fail to fully utilize all the many excellent features of this pricing platform and therefore leave money on the table nearly every time.
Few estimators have developed a systematic approach to their construction take-off. Because they are all over the board it is easy to miss items leading to a loss of profit for the company. Instead the company owner should require and teach a consistent approach to writing estimates for which each estimate adheres. That starts with a consistent and reasonable approach to the take-off which should begin from top to bottom, from left to right, and from wall 1 to wall 4.
The same sketch should be used for both mitigation and construction estimates in order to insure dimensions remain the same, rooms are labeled the same and in the same order, and when the two are set side-by-side the estimate reviewer can more easily insure that charges for material taken out were put back and charges for what was put back were also charged for removal.
When I do estimate review for contractors I am amazed how frequently upper cabinets were replaced in the reconstruction estimate but never charged for removal in the mitigation estimate. I find underlayment is replaced but no charges for removal exist anywhere. I recently reviewed a Category 3 estimate and found that twice the amount of drywall was replaced in the reconstruction estimate than removed in the mitigation estimate. There are reasons for this but the overage removal was never charged for. Leaving money on the table time after time after time. Sound familiar?
Similar line items should be placed together rather than scattered throughout the estimate. For example drywall, texture and paint should be entered consecutively. Put all trim, casing, and doors line items together. Enter everything related to cabinets including toe kick, fillers, countertops, and so on back to back.
When an estimate is poorly organized it sends a message to the adjuster that they really need to look it over carefully for mistakes. It also takes the internal company reviewer much more time to properly review the estimate than it should. All of the trouble and wasted time costs the company money. If you are going to replace baseboard on line 24 don’t make the adjuster scan all the way down to line 38 to find that you are planning to paint/stain the baseboard too. One item should be listed on line 24 and the next on line 25. You see what I mean don’t you? It’s all a matter of self-discipline.
Tools such as drop and fill; similar and related items; and specialty tools such as framing, decking, and roofing should be used to effectively eliminate underscoping. My experience is that the industry wide tendency in estimating is not overscoping but underscoping. Few adjusters will tell you when you have underscoped a job but they will all call you out whenever you overscope. It is the responsibility of the owner to demand excellence in estimating practices.
Strategy #4 – Take control of your material costs
More money is lost through a lack of control over material purchases than any other single issue. When was the last time your crew bought 15 sheets of drywall when the estimate allowed for only 10? Have you ever paid $35 a gallon for paint when Xactimate paid you only $26? Have you ever paid $210 for a sink but were paid only $95 by the carrier? I have experienced each of these firsthand and it is what led me to take control of material purchasing.
The estimate Final Draft shows line items per room that include equipment, material and labor components that comprise the total charge. So the front end of the estimate won’t show you quantity or unit cost of your materials. You have to go into the back end to get that information. You cannot effectively manage costs without this back end information. Having it will make all the difference in the world in your quest to improve your per job profits and stop this common profit killer.
Strategy #5 – Don’t accept bids from your subcontractors
Many contractors send out one or more subs to give bids on a job much like homeowners do when they begin a remodel project. The reason for this misstep is that restoration contractors don’t know how to determine a fair wage so they ask their subs to bid.
Many contractors may hire subs on an hourly basis only to have them milk the clock and eat up profit. Others take the lowest bid in hopes of getting the best deal. Some contractors keep the O&P (20%) of the job and just hand the job over to a subcontractor willing to do the work for what’s left.
Most restoration contractors earn about 28% – 32% profit per rebuild job and some lower than this. I am working with a contractor who earned 21% on construction rebuild work over the entire year which is just 1% above Overhead and Profit. Imagine what would happen if operations could be improved to such a degree that rebuild services produced 45% – 50% per job profits. That would dramatically change the business in so many ways!
I did a study not long ago regarding Xactimate labor charges and local wages in Denver and St. Louis. Here is what I found in terms of the hourly rate Xactimate uses to calculate contractor pay:
- General Carpenters – $67 and $60
- Painter – $55 and $56
- Drywall Installer – $82 and $65
- Demolition labor – $43 and $42
- Carpet installer – $52 and $63
There is not a contractor anywhere in the U.S. who pays these prices to workers. When workers milk the clock you might end up paying these prices, but if you challenge your workers to make more money working by the job they will discipline themselves to work more efficiently. Why not give them a scope of work and a labor number that is a percentage of the Xactimate labor charge for the work you assign to them? Lock in your profit at the outset of the job. Let them manage themselves so if they do take longer than they should you don’t get stuck with the bill. This is the only way to pay subs. You need to make that change today!
Check your price list and then check local labor rates for your market. For example, I found that In Denver during the month I did the Xactimate comparison superior carpentry skills brought a $20 – $25 hourly rate. That is what Denver companies were offering in their Craigslist ads for skilled finish carpenters. Compared to Xactimate pricing local wages were less than 50%.
Giving a scope of work with a materials list along with a good labor number will help you lock in your profits and begin hitting that 50% per job profit on most jobs.
There are only two ways for a contractor to make more money – increase revenue and improve profit margins. Take a swing at each and see what you may be able to achieve!
As a top industry business coach I help restoration businesses accelerate their top line revenue growth and improve and protect their bottom line profit growth. Visit my website today where you will find over 50 blogs, podcasts and webinars on topics related to growing your restoration business. You will find a Coaching Plan that is uniquely focused on the growth needs your company faces. You will also find two FREE eBooks titled HOW TO GROW YOUR RESTORATION BUSINESS and STOP YOUR PROFIT KILLERS DEAD IN THEIR TRACKS.
There is a lot of support available to help you gain additional traction and develop the operational design to succeed and thrive as you continue growing your restoration business.
Visit me at www.growmyrestorationbusiness.com or call me for a FREE 30 Minute Consultation at 800.655.1598.
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How to Make Killer Profits on Flooring Every Time
How to Make Killer Profits on Flooring Every Time
GROW RESTORATION BUSINESS BY MAKING KILLER PROFITS ON FLOORING EVERY TIME!
Why are contractors afraid of flooring? Why are so many happy to shy away from it? Why are they happy to let it go to a flooring contractor who will take care of selections and scheduling for them allowing the contractor to rid themselves of the inconvenience
BECAUSE THEY HAVEN’T YET FIGURED OUT WHAT IT TAKES TO MAKE MONEY ON FLOORING!
I am going to tell you exactly what to do to make killer profits on flooring each and every time! But first a little background.
My personal experience as a restoration contractor confirms the results of my current research. I reviewed scores of estimates and received input from estimators and restoration company owners from around the country.
My research leads me to conclude that flooring typically represents approximately one-third of the average total repair bill. That average cost for an insurance related damage repair rebuild is approximately $10,000 and if you add up all the line items for FCC AV in each room you will find that the total typically equals about $3,300 or so. That is approximately one-third of the total repair build for what the contractor will be paid for equipment, material and labor to install carpet. If you are dealing with tile or hardwood the percentage will likely be even higher.
Since you find flooring on nearly every damage repair job nailing flooring is absolutely vital to making killer profits on the job as a whole. If you haven’t figured out how to make money on flooring and therefore just give it away to some retailer you lose the single largest profit making part of your job. And if you do this every time, well – how crazy is that? You are not in business to simply break even so killing flooring is critical to your business success!
Our goal is to reach 50% profitability on each and every rebuild job every single time so focusing on one-third of the budget representing a single building material is huge! Many contractors give away their flooring to a flooring contractor or supplier who will provide selections for the contractor’s customer and will schedule the installation. Many do this for a small referral fee that rarely exceeds 10% or just a few measly hundred dollars. You won’t get to 50% profitability this way by giving up large profits.
Other contractors opt out for the convenient use of retailers such as Home Depot, Lowes, Carpet One, or other retail stores. What happens when a contractor sends a customer to a big box retailer – the customer asks “How much do I have to spend?” An ethical response is to tell them how much Xactimate allows for FCC AV material. In your area let’s say the material allowance is $2.34 per SF or $21.06 per SY. What happens next – the customer spends every penny and a nickel more for their carpet selection. Am I right?
Here are 3 important keys for you to understand and take charge of if you want to earn killer profits on flooring:
KEY #1 – EVERY TIME A CONTRACTOR SENDS A CUSTOMER TO THE SHOWROOM YOU LOSE BIG TIME WITH THE CUSTOMER SPENDING EVERY PENNY OF YOUR POTENTIAL PROFIT!
Your customer will spend the entire material allowance and then some, every time!! You know this is true.
KEY # 2 – THE ONLY WAY FOR A CONTRACTOR TO MAKE KILLER PROFITS ON FLOORING IS TO TAKE THE SHOWROOM TO THE CUSTOMER AND LOCK IN YOUR PROFITS!
When you take the showroom to the customer with great looking multiple presentation boards you don’t have to tell them what your wholesale price is for carpet costs, instead you simply show them FCC AV carpet selections or whatever grade carpet you have in your estimate. Show your customer lots of selections by presenting 3 or 4 boards with different textures, patterns, and a ton of wonderful colors to pick from. Each board represents the quality of an FCC AV carpet grade so everything is right and above board but you are able to buy that carpet for 45% – 50% below retail.
KEY # 3 – THE SOURCE OF YOUR CARPET BOARDS ARE SUPERIOR WHOLESALE DISTRIBUTORS WHO ARE SELLING YOU THE CONTRACTOR FCC (AV-, AV, AV+, OR AV++) CARPET (AND OTHER FLOORING) AT WHOLESALE PRICES AT A 45% – 60% DISCOUNT BELOW RETAIL.
You can buy your flooring material from the same wholesalers your retailers are buying from before they mark up the flooring and take ALL your profit.
One wholesaler sells AV tile at a 60% discount over retail. Think of your potential profit on a large tile job – it could be gigantic.
One of my client contractors told me earlier this week that through the enormous material savings and controls on labor he made a 70% profit on a large carpet job. Incredible- but true!
What he did you can do too!
Keep in mind sourcing retail materials at wholesale prices is how contractors make money. If you rely on Overhead and Profit alone for your profit margin, you’ll go out of business. The better your sourcing on more and more materials the higher your per job profit will be. The higher your per job profit the better your cash flow, the stronger your cash reserves, and the more personal wealth you will earn.
Finding wholesale distributors who sell flooring such as carpet, tile, and hardwood directly to contractors is the key to your profit success. By the way – I just happen to know superior wholesale sources for each of these flooring materials.
So now you have saved 45% or so on the materials – what do you do with the labor?
Xactimate pays $56 an hour for flooring installation in Denver and St. Louis contractors are paid $46 an hour for flooring installation. Xactimate employs hundreds of people who gather information from local economies regarding current material and labor costs and, as you know, updates their price list every month to represent shifts in each local marketplace.
How much are you paid in your market for flooring installation? What if as a Denver contractor you decided to NOT pay $56 an hour for flooring installation and decided to offer your installer something less? The difference between what you are being paid and what you are paying is your profit.
Now assemble your profit from material along with your profit from installation and you discover how to make 40% – 50% flooring profit on the single largest line item on your repair estimate.
Let’s take the middle ground of 45% profit on a typical $10,000 rebuild where flooring represents one-third ($3,300) of the total job costs and you can see that you have earned a $1,500 profit on a single job. Compare that with the poultry 10% or $330, or less that contractors typically settle for as they pass flooring along to someone else. If you do that you stand to lose about $1,200 on each and every job you complete. Multiply the loss by 100 jobs completed annually and you have forfeited $120,000 of profit that could support cash flow, cash reserves, and your personal wealth building. How would you like to have that $120,000 back in your pocket where it belongs?
Visit me on my website for more valuable information about making killer profits on flooring and other important information for restoration and remodeling contractors at www.growmyrestorationbusiness.com or call me for a FREE 30 MINUTE CONSULTATION and let’s talk about what it would take to grow your restoration or remodeling business.
Are You Considering Buying a Restoration Business?
Are You Considering Buying Restoration Business?
If you are considering buying restoration business you’ll want to read what I have to say about the buying process.
Researchers tell us that 93% of new small business buyers have never operated, bought or sold a business before. Imagine that – this is perhaps the most life-changing financial decision that one will ever make and the buyer has no previous experience in the matter. Not only this but they have NO experience in the industry they are buying into. These prospective buyers have NO experience with water damage, insurance claims, Xactimate estimating, reconstruction services, subcontractors, and all the many facets that make up business life in the insurance damage repair industry.
The more the buyer knows about the water damage repair industry, the prospective business’s internal operations, and the local market the safer and sounder the buyer’s decision will be before they sink their hard earned cash into a purchase.
What does a buyer need to know and understand about a business before they buy? Brokers tell us that sellers should spend two years or more getting their business ready to sell if they want a top dollar sale. Buyers should also take time to put into place a viable process that will lead them to a quality company and a good buying decision. Acquiring a business is so much more than simply agreeing on a sales price. A buyer should thoroughly understand the Company’s history, its operation, its sources of revenue, its performance trends, its personnel, its financials, as well as its potential future performance and growth opportunities.
Buyers should understand that business brokers are not the same as business consultants. Brokers are committed to one thing – the sale of the business. Few brokers have ever owned a restoration business and most don’t specialize in this unique industry. It is easy in a transaction like this for the Buyer, who themselves may have little firsthand experience in the industry, to not fully understand what information is available and needed for a comprehensive due diligence. This is the reason why The Business Buyer’s Edge and The Restoration Entrepreneur are so vital to your successful acquisition.
The Business Buyer’s Edge is a Coaching Plan that provides prospective buyers with an Initial Information and Final Due Diligence Checklist comprised of 16 categories of information and 120 items of disclosure. This comprehensive list arms buyers with all the relevant information about every key aspect of the business. The Business Buyer’s Edge helps you can make the best buying decision for you and your future.
Don’t be a remorseful buyer that looks back after closing disappointedly wishing that you had looked more deeply into the business that you now own. Become a highly satisfied buyer knowing exactly what you purchased with a clear plan in place to take your new business to its next level of growth and development. The Business Buyers Edge gives you the edge to do just that!
Visit us at www.growmyrestorationbusiness.com to learn more about all of our Coaching Plans and browse through more than 75 free eBooks, blogs, podcasts, and webinars offered to help you be a successful entrepreneur growing your restoration business and managing your business like a pro!
Affordable Restoration Business Coaching Can Help You Grow Your Restoration Business
Learn More About These Eight Affordable Restoration Business Coaching Plans at www.growmyrestorationbusiness.com/plans-pricing
Call me today for a FREE 30 Minute Consultation and let’s talk about the ways you can grow your restoration business. You can reach me at 800.655.1598.




