Forum Discussion

bedellmgmt's avatar
bedellmgmt
Jobber Ambassador
3 months ago

Sticker SHOCK! 😲

I have been doing my office's annual purge and came across some old invoices from the earliest power equipment my business purchased. Believe it or not, some of the equipment I use has doubled in price for the replacement model at today's cost.

Since it is our responsibility as owners to be profitable enough to replace/repair equipment as needed, I find myself adjusting my equipment cost recovery number upward almost monthly in my budget.

How often are you adjusting your cost recovery upward to adjust for the ongoing inflation?

construction
costs
door services
electrical contracting
general contracting
handyman
hvac
irrigation services
landscaping
lawn care
  • judithvirag's avatar
    judithvirag
    Contributor 4
    3 months ago

    We set a budget every year in QB and review the numbers and also how much we want to grow.  With growth there is always extra employees added and then extra equipment.   We factor this in as well.   Usually a 10% increase plus the new equipment.  We also have a separate line for repairs and maintenance.  I review the numbers every two weeks.  

Related Content