Blog

Making This Single Addition Can Triple Your Business in 18 – 24 Months

80% of the 25,000 Restoration business in the US provide only mitigation services. That’s right, 4 out of 5 remove damaged building materials, but they don’t do the putback. Any company smart enough to add put back services can triple its business in 18 – 24 months. Don’t be afraid of this!

What’s the Difference Between A Managed Repair Program and a TPA?

In the past, many insurance companies sponsored a managed repair program. State Farm had its Preferred Service Provider program, American Family had its Home Repair Program, and so on. A contractor could apply directly to the insurance company and, if approved, would be added to their list as a preferred vendors/contractors.

NET Profit is the Best Measurement of Your Business’s Success

If you can’t operate your business to produce a 20% net profit, there is something seriously wrong with your business! We’ve all heard of the financial term EBITDA, which stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. This metric is a measure of a company’s profitability and strength of operations. It shows how much cash flow a company generates from its operations and depends on its operational efficiency.

Why Aren’t YOU Receiving Referral Work from National Managed Repair Programs?

We all want referral work!! In our restoration industry, we call National Managed Repair Programs Third Party Administrator Networks (TPAs). These National groups administrate property claims in conjunction with the carrier, including assigning them to network contractors.

What You Need to Know About Managing Your Cash Flow

Good cash flow management ensures there is always enough cash on hand to meet expenses. For most restoration owners, this is rarely the case. We always seem to be cash strapped. We are either preparing for payroll or just completing it. There is rarely a surplus of money on hand, making this one of the highest pressure experiences in our business life.