Levelset
AUGUST 17, 2022
These data points provide insight into the profitability of a company and give owners an early indication of potential issues. Architectural business consultant Lucas Gray of Charette Venture Group recommends three KPIs to help firms measure their profitability: break-even point, utilization rate, and billable ratio. . Lucas Gray.
NH Construction Law
APRIL 26, 2018
Sometimes this unanticipated time/space compression is the owner’s fault, in which case the general contractor/construction manager and its subcontractors will likely be entitled to increased compensation by change order or otherwise -- and to a mechanic’s lien if that increase is not paid. But how is that sum calculated?
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Levelset
APRIL 5, 2022
Most construction businesses focus on their profit margins — making sure that revenue exceeds costs for each job. Otherwise, you’ll have to use another project’s profits to cover those higher expenses. Last but not least, establish and follow your company’s mechanics lien policy. Why contractors run out of cash.
Levelset
JULY 22, 2022
New businesses can leverage technology, automation, and lower overhead costs to compete with existing businesses. From there, you can track your accounts receivable, accounts payable, and overhead expenses to see your current cash flow. While cash flow is critical for survival, profit is essential for growing a roofing business.
Levelset
JULY 18, 2022
While cash flow is critical for survival, profit is essential for growing a plumbing business. Your profit is the money you will use to reinvest in the business for continued growth. Too many plumbers fail to price their services correctly, either aiming too high to attract customers or too low to maintain profitability.
Levelset
JUNE 21, 2022
Read more: Do Repair and Maintenance Companies Have Mechanics Lien Rights? Too many HVAC businesses fail to price their services correctly, either aiming too high to attract customers or too low to maintain profitability. Oh, and you do want to make a profit, right? Determine your profit margin to set prices properly.
Levelset
JULY 19, 2022
While cash flow is critical for survival, profit is essential for growing a painting business. Your profit is the money you will use to reinvest in the business for continued growth. Too many painters fail to price their services correctly, either aiming too high to attract customers or too low to maintain profitability.
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