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?
This statement is about your future and it should begin directing your steps today! The matter is vitally important to you, and I hope you read this carefully! To the 25,000 Restoration Company Owners, I ask you, “What size must your business be to retire?"
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.
ROI measures the amount of financial benefit you receive from a particular marketing investment.
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.
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.
How many companies have a process in place for estimate review? I'm not just talking about checking an estimator's work to ensure they are not leaving money on the table. It includes that, but more. Owners should take an active interest in upgrading the skills of key employees, especially estimators.
Every Owner knows how difficult it is to find quality workers. This is especially true for managers. Many owners struggle with knowing where to look, how to interview, and how to ensure the prospect has the skills they are looking for. Using an HR company may provide the help you need!
If you haven't, you likely have serious collection issues on unpaid balances owed to you. Lien leverage is your most valuable tool in getting paid by customers who don't want to pay or adjuster's who fail to pay you promptly.
A Change Order is any change, whether an upgrade or a downgrade that a customer makes to the approved scope of repair. There's only one way to document a change order correctly, and that is with a Xactimate file.