Remove Banking Remove Consulting Remove Insurance Remove Profitability
article thumbnail

Toxic and dysfunctional industry awaits its revolution

Construction Law

The fundamental issues remain – clients are convinced that the industry is inefficient and prices have to be held down; main contractors compete ruthlessly on price and take work with little chance of profits and sub contract what they can down the supply chain to those least able to shoulder the risk.

article thumbnail

Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. The really good news they are on the banks payroll.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

You Have HUD-1 Statements And Your Bank Wants Financial Statements

Contractor Bookkeeping

You are a spec home builder in need of a construction draw and your bank or lender wants to see your latest financial reports and this time they want all of the current houses you are working on to be reflected in QuickBooks correctly as Work-In-Process (W.I.P.) Insurance Audit Support Service. Does this sound familiar?

Banking 49
article thumbnail

Optimize Vs. Maximize Construction Company Production

Contractor Bookkeeping

The First Place to start is an understanding the real profit in any construction is made in the office, not in the field because hard work in the field cannot overcome bad strategy from the office. It sounds crazy but look around you some of your competitors are laughing all the way to the bank and you can too! "If

article thumbnail

Common Types of Construction Contracts And Their Use

cnstrctr

Under a lump sum contract the consultants are typically engaged by the owner and the contractor falls under a separate contract with the owner. The contract is typically governed by the prime consultant. The major difference however, is that the contractor engages the consultants and provides a complete proposal to an owner.

article thumbnail

Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. Which QuickBooks Reports Will Help You Increase Sales And Profits? Of course you are!

article thumbnail

Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

You do all the work they get half the profits and you politely refuse. Go To Your Bank - And they offer you a line of credit. Consult with a construction attorney and follow their advice. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income.