Part 2 of: Want to Start A Home Repair / Remodeling Business?

The Secret to Getting & Keeping Track of All That Money

Never under estimate the importance of estimating and record keeping: You just won’t get the jobs without the estimates, and you will go broke if you don’t keep good records and you won’t get your deserved tax refund:

  • There are several spreadsheet programs available even free ones that work well
  • Make a form to be used strictly for estimating jobs.  If you are fairly understanding of computer programs, you can make shortcuts or pivots to do math calculations that will help you determine totals for your basic prices.  An example is how much to charge for drywall per square foot.  I personally do not have a clue how to make these pivots and formulas or shortcuts.  Make extra sheets in your Forms Area to use as a price sheet for your eyes only.  It will be the price per square foot that you charge standardized items including material and labor: drywall installation, stud wall framing, electrical wiring, interior hollow core doors (luan vs white panel), etc..
  • Make an official construction contract form.  Pre-made forms are available from an architectural organization that are pretty much boiler-plate.  In some states you are not allowed to do any kind of work without a contract and with a 3 day right of rescission.

The least amount of information required on almost any kind of contract is:

  1. Names, phone numbers and addresses of customers
  2. Address of work location
  3. Materials to be used on job (if a specific brand item, reference same)
  4. Estimated number of man hours
  5. If the state mandates a warranty, reference same
  6. If the job is a do right away or an emergency repair, it over rides right of rescission.
  7. The contract should have the contractor’s name, phone number, address and contractor license number.
  8. Carbonless copy contract

 

Follow Up is Key:

  • Call  back on inquires (consistently, the call you blow off could feed your family for a year)
  • Make appointments to see jobs.
  • Go to the work location to do the estimate.

If the customer starts bad mouthing contractors because of the high price, you may want to utilize some of this strategy.

  1. If you want a car that handles well, has good power, premium interior – you pay more for it.
  2. If you want a pair of boots (or shoes) that are comfortable, will last, and keep your feet warm/dry – you pay more.
  3. Nowhere is it truer than in construction that you truly get what you pay for it.  I have turned down more jobs than you can shake a stick at (both commercial and residential) when a client shows me a one line-item competing estimate and wants me to match their price, and my profit margin and overall earnings are continuing to climb.  My clients see a detailed estimate of all materials, subcontracted work, my fee, and my charges for supervision and management, accompanied by a written proposal detailing exactly what is included, excluded, quality/specifics of materials, proposed duration, clauses for unforeseen conditions, and change order procedures (to include allowable charges and fees).

If there is some information that you need right-a-way, feel free to send me a message through the contact us form for private comminucate or comments if you want to share and I will get back to you quickly.

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Check out this Tip from the Green Dream:http://greendream.biz/2012/08/a-time-of-momentous-change/?utm_source=GreenDream&utm_campaign=6b99c61580-RSS_EMAIL_CAMPAIGN&utm_medium=email

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If you have remodeling planed in the future and you plan to hire a contractor, I suggest that you have a look at this report.  The Investment is 100% Money-Back Guaranteed for 60 days by clickbank.

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