Q: What Should I Do to Help Increase My Profitability on Jobs?
First, we need to make sure we have a plan in place for every job that goes into production. This plan is called a budget, or some way of identifying what we plan to spend. Even if an estimate has not been created, this can be looked at as setting a reserve or not to exceed amount. This can be done for Labor, Materials and Subtrade expenses.
Each job should have a target margin. What profit are you looking to achieve on this type of work. Different types of work should have different targets. Once in place, you should be able to calculate a Contact value or Estimated Revenue. That should hold employees accountable for their spending. Work Orders are a common system that is put in place for internal staff to stay on budget while avoiding slippage or overspending.
Ryan Pritchard
Ryan Pritchard is the VP of Sales & Marketing at PSA by Canam Systems, a leading software development company delivering fully integrated web, mobile, and desktop solutions to the insurance restoration industry. With over 15 years of experience in customer service and sales, Ryan joined the organization in 2010 and has played a key role in driving consistent company growth. He has been instrumental in helping restoration businesses streamline operations and improve profitability. Ryan is passionate about building strong client relationships, identifying market opportunities, and delivering technology solutions that empower restoration contractors to succeed.
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