Remove Cash Flow Remove Estimating Remove Lien Remove Profitability
article thumbnail

A Cash Flow Guide for Architects

Levelset

However, like any other business, you need to maintain positive cash flow or you may find yourself unable to pay your workers and other expenses. Let’s take a look at the basics of cash flow and how architects can budget their expenses and forecast their income to stay in good financial standing. Cash flow basics.

article thumbnail

KPIs for Architects: 3 Performance Indicators to Watch

Levelset

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.

professionals

Sign Up for our Newsletter

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

article thumbnail

4 Factors Underwriters Consider When Issuing a Construction Bond

Levelset

Some contractors watch as their gross profit margins decrease when they take on larger jobs. The surety is also likely to explore a contractor’s payment history on past projects — an inability to make on-time payments to subcontractors and suppliers can increase the risk of mechanics liens or bond claims. . Learn More.

Risk 52
article thumbnail

7 Ways To Grow Your HVAC Business in 2022

Levelset

Also, the Air Conditioning Contractors of America estimate 13% job growth by 2030, outpacing the average across all industries. So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow.

article thumbnail

Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

In addition, SubGuard does not provide protection against mechanics liens from unpaid second-tier subs and suppliers. Some GCs pass the cost of the loss reserve onto the project owner and claim that amount as additional profit on the project. Include X amount of additional profit in your bid.”.

article thumbnail

Contractor's Secretary Does Everything Including Bookkeeping!

Contractor Bookkeeping

Sending the Notice to Owner of Intent To Lien to protect my financial interests. Following up to be sure a written estimate has been sent to every customer. Maintain the petty cash journal. Enter estimates from scraps of paper and emails from the contractor. Checks start bouncing which adds more fees and hurts cash flow.

article thumbnail

How To Grow Your HVAC Business: 7 Tips for Contractors

Levelset

Also, the Air Conditioning Contractors of America estimate 13% job growth by 2030, outpacing the average across all industries. So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow.