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The Problem With High-Profit Jobs In The Construction Industry

Contractor Bookkeeping

Many problems can be traced back to the "Halo Effect," which happens when a contractor thinks, "We are so good at (fill in the blank) we should expand into (fill in the blank)." Or the opposite, a home builder who decides to branch out into residential remodeling.

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Adopting Labor Operations Software for Contractors

Construction Business Owner

CDT A growing consensus of contractors believes labor utilization can be greatly improved with the right software. Adopting software doesn’t mean you have to change processes or workflows — it’s about enhancing them with automation, reporting, historical record keeping and bulk actions that improve your business performance and profitability.

Software 282
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Seven Traits of Profitable Specialty Contractors

Fieldwire

Anyone who has managed a construction company, department, or project knows profitability can be challenging. Intense competition, fluctuating market conditions and other factors often result in tight profit margins. Even with numerous challenges, specialty contracting can be profitable. In-Demand Expertise. Effective Marketing.

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3 construction industry trends in 2023

Lets Build

The same issues plaguing the industry last year—labour shortages, supply chain disruptions, high material costs, lower profit margins, etc.—followed These challenges will likely result in even smaller profit margins in the months to come. Here’s what the top construction industry trends in 2023 look like: 1.

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NEW WEBINAR: Adopting Labor Operations Software for Contractors

Construction Business Owner

CDT A growing consensus of contractors believes labor utilization can be greatly improved with the right software. Adopting software doesn’t mean you have to change processes or workflows — it’s about enhancing them with automation, reporting, historical record keeping and bulk actions that improve your business performance and profitability.

Software 177
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5 Tips to Prepare for the Next Economic Recession

Construction Business Owner

During the Great Recession, small contractors (companies under 10 employees) failed at a far higher rate than non-construction businesses. However, given the 200,000 business failures, the almost complete collapse of profitability and the immeasurable human cost—our industry was at ground zero and will be again in the next recession.

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General Contractor Salaries in 2022

Lets Build

General contractors are at the forefront of almost every construction project. What is a general contractor? Before we get deeper into the details of a general contractor’s salary, let’s briefly talk about their role in the construction industry. How much does a general contractor make?