fbpx

Blog

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.

Have You Tapped Into the Biggest Moneymaker in Our Industry?

If you want to grow your restoration business and are not providing rebuild services, you are missing out on the biggest moneymaker ever! Every Restoration owner wants to grow their business! They want more revenue, higher profits, open up new markets, add services, and generate more work?

What’s Holding You Back From Becoming a Full-Service Restoration Contractor?

Fear? Know-how? Confidence? Of the 25,000 restoration companies in the US, 80% are mitigation-only businesses. Would it surprise you to learn that many of those want to become full-service? But they don't do it because of nagging self-doubt.

How Much Salary Should Owners Make?

Owners should receive a salary of no less than $100,000 annually. While some smile at such a notion, others frown because they see no way of doing this. A young fledgling company may allow for a $60,000 or $70,000 annual salary while the Owner reinvests in the business, but beyond one or two years, the $100,000 salary must become attainable.

“Tell me what you can do for me,” he blurted at me over the phone.

That was the greeting I recently received from one brash young contractor. “Tell me what you can do for me,” he said. After starting to recover my composure, I stuttered and sputtered, saying that contractors come to me because they are interested in two things: 1) Starting or improving their rebuild services, and 2) they want to get on TPA managed repair programs.