What's Standard Gross Profit for Your Industry?
I once listened to Tom Reber preach about 50% gross profit and how if you aren't aiming for that, you are going to hurt yourself short/ longer term. He was basically saying, for every dollar you make, you need to make two. This has been super impactful for me and my business but I'm noticing on my really big projects, it's so hard to keep that. I have one $120k exterior BBQ that has definitely had some inefficiencies but we are probably looking at 35% end of day. But that's 35% of a large $$ so that is kind of ok. For those of you who do a good job tracking this (btw Jobber's gross profit calculator is objectively amazing for this btw)- what is your gross profit and what do you usually shoot for?You down with PPE? Yeah, you know me!
Google AI explains it as "Personal Protective Equipment (PPE) refers to any clothing or equipment worn to minimize exposure to hazards in the workplace and protect the wearer's health and safety. PPE is considered the last line of defense when other controls cannot eliminate or reduce the hazard adequately." I've always viewed personal protective equipment (PPE) as my primary shield for staying safe and healthy on the job. With machinery that can spin at speeds up to 10,000 RPM, it’s essential to prioritize my protection. What about you? What PPE do you typically use in your work? For me, I rely on: Ear protection: Since most of our tools operate at high decibel levels, it’s crucial to safeguard my hearing. I personally prefer foam earplugs over earmuffs for comfort. Eye protection: When handling equipment like line trimmers, mowers, chainsaws, and blowers, debris can go flying everywhere. I want to ensure my eyes stay safe from any potential hazards. Safety boots: I opt for high-rise boots with steel or composite toes and plates to protect my feet. Long pants: These are important for shielding my legs from rocks and other materials that can become projectiles. Sun hat: Keeping my head and shoulders covered helps shield me from the sun's rays while I work. Remember, taking these precautions not only keeps us safe but also helps us enjoy our work without worry! One more important type of PPE—at least in my view—is knowledge! It’s really vital to have as many staff members trained in First Aid as possible.Do You Train Your Team to Think or Just Work?
Every Monday, we hold a short training session with our team. We train on communication. leadership. & mindset. The reason being most tradespeople aren’t struggling because they can’t do the work. They’re struggling because they were never taught how to: Speak with clarity Handle conflict Lead a crew Represent the business professionally These tend to be the issues I see bottling up, either from our exit interviews or customer feed back or when things are misunderstood. Thats why I'm curious: Do you train soft skills with your crew?When is it time to hire an accountant?
I am wondering at what point some of you guys have hired an accountant? Did you hire one to grow? To maintain what you have? Or are you simply using one to file taxes at the end of the year? I am thinking about hiring an accountant to manage my finances for me and see where things go, but wondering when is the right time.What Should Home Service Businesses Automate First to Save Time?
Small manual tasks start stacking up, catching up on follow-ups, re-adjusting scheduling, invoicing, review requests, the list goes on and on. Sound familiar? What’s one task you’re still doing manually that you know could be automated? What’s stopping you from setting it up?How Much Should You Really Be Charging?
The number one question I receive is tied directly to the fact, most contractors are still guessing when it comes to pricing. Overhead. Profit. Labor rate. Trip fees. They think just because they throw a number they hear their competitors use, thats all that they need. It may work, but how and what do you divide these funds is just as important for your business health. If you don’t know how to do the math, you’re not building a business. You’re surviving check to check and think you need more work, when you do not. So here’s the plan: This Tuesday & Thursday on IG, I’m walking you through our Contractor Price Builder Worksheet FREE on instagram live. We will cover: - How to calculate your real hourly rate - The difference between markup and margin - Why profit is a non-negotiable - And how to price with confidence Join the session. Bring your numbers.
Most Profitable Marketing
What marketing strategy has been the largest driver for your business in terms of generating revenue? Best ROI. Marketing company, facebook ads, google ads, SEO, billboard, newspaper, cold emails, cold calling, door to door, business cards/flyers/postcards, or any type of free advertisement, charity work, the list goes on. As contractors, we can become ignorant if we think we have it all figured out. We can all learn from each other. Please share your best ROI.How do home service businesses fill their calendar before busy season?
When work slows down, most service businesses feel it fast: stress, cash flow pressure, and last-minute scrambling. Sound familiar? What’s the one thing you rely on most before busy season to keep your calendar full? New leads Repeat customers Referrals Deposits or upfront payments Booking weeks in advance Something else? (do tell!) Bonus: What used to stress you out about slow periods that doesn’t anymore?
