Category

Business

Do you know the basics of construction accounting?

By | Business | No Comments

Knowing basic financial numbers in your business will save you a ton of heartache and frustration. If you only know one number (say, your revenue number) but not your net income, you might find in 8 months that you’re out of business, because you’re not generating enough net income to stay in business.

Accounting for contractors (FREE)

43 Trade School Jobs Among the Highest Paying Trades

By | Business, News | No Comments

A recent article lists various high-paying trade jobs. Of the 43 highest paying jobs, 23 of them are considered skilled trades.

You can see the whole list here: https://www.trade-schools.net/articles/trade-school-jobs.asp

Housing Permits Down In San Diego by 37%

By | Business, News | No Comments

Housing construction collapses in San Diego County

The San Diego Union Tribune just posted a video about the recent sudden drop in permits being issues (37% in San Diego!) We aren’t seeing a slowdown, are you?

Entire article: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-san-diego-construction-report-20170605-story.html

How To: Calculating Hourly Rates for a Contractor or Small Business

By | Business, How To | No Comments

Are you just starting out in your business? If you need a simple way to come up with an hourly rate for a contractor or small business owner watch this video.

[(hourly rate) + (direct expenses) + indirect expenses)] / Profit

What is a Reasonable Profit in Construction?

By | Business | No Comments

ServicePair’s goal is to help put food on the table for skilled tradespeople. We try to collect up and post helpful business articles so contractors can improve their business acumen. The article authored by David J Hoare helps explain how you get to a 9% profit margin…after you include the owner’s salary.

What is a Reasonable Profit in Construction?

Profit Markup vs. Margin – Simple Formula, Common Mistake

By | Business | No Comments

A lot of contractors incorrectly calculate profit on their estimates. Most contractors use the markup method – but this method will leave your bottom line coming up short every time! In this brief video, they explain the difference between a markup and a margin, and how to use a profit margin formula on your estimates that will give you an accurate profit every time

It works for contractors too!

By | Business | No Comments

You might want to check out Warren Buffett’s top 10 rules for success. The very first thing is “Find your passion!”

What is a construction worker salary these days?

By | Business | No Comments

I recently saw this and thought I would post. I disagree with the numbers offered in here but maybe because I only deal with licensed skilled professionals. Any thoughts?

Details about this chart

Construction Worker Salaries

 

 

How much markup on materials?

By | Business, Tips | No Comments

Lots of contractors are leaving money on the table by not adding markup to materials. Do yourself a big favor and start if you aren’t.

More here: http://forums.jlconline.com/forums/forum/jlc-online-expert-forums/estimating-markup/8341-how-much-markup-on-materials