Category Archives: 2020
Posted on November 16, 2020 8:36 AM by Jack Dennison
In the past, many insurance companies sponsored a managed repair program. State Farm had its Preferred Service Provider program, American Family had its Home Repair Program, and so on. A contractor could...
Posted on November 3, 2020 10:38 AM by Jack Dennison
80% of the 25,000 Restoration business in the US provide only mitigation services. That’s right, 4 out of 5 remove damaged building materials, but they don’t do the putback. Any company...
Posted on October 26, 2020 10:15 AM by Jack Dennison
The reason we take bids from subcontractors is that we don’t know any better way. There is a better way! First, determine exactly what you want them to do. Prepare a subscope...
Posted on October 26, 2020 8:33 AM by Jack Dennison
If you can’t operate your business to produce a 20% net profit, there is something seriously wrong with your business! We’ve all heard of the financial term EBITDA, which stands for...
Posted on October 13, 2020 8:28 AM by Jack Dennison
As a contractor, I was always interested in how others did it and built successful businesses. Perhaps you will find insight and encouragement from learning how I did mine. First, the...
Posted on October 7, 2020 8:51 AM by Jack Dennison
We all want referral work!! In our restoration industry, we call National Managed Repair Programs Third Party Administrator Networks (TPAs). These National groups administrate property claims in conjunction with the carrier,...
Posted on October 5, 2020 8:41 AM by Jack Dennison
This is the time of year when we take note of our year-end numbers. We ask what can we do to have a strong finish to the year. What can...
Posted on September 24, 2020 7:45 AM by Jack Dennison
What if one TPA sent you 3 jobs a month. That’s 36 a year, and if you are a mitigation-only company that will produce more than $100,000 of revenue. If...
Posted on September 24, 2020 7:41 AM by Jack Dennison
NO, you don’t use it for masking a paint job, silly! Have you ever had a customer at the end of the job come up with a two-page long punch list...
Posted on September 24, 2020 7:36 AM by Jack Dennison
Good cash flow management ensures there is always enough cash on hand to meet expenses. For most restoration owners, this is rarely the case. We always seem to be cash strapped....
Posted on September 16, 2020 8:21 AM by Jack Dennison
If you want to grow your restoration business and are not providing rebuild services, you are missing out on the biggest moneymaker ever! Every Restoration owner wants to grow their business!...
Posted on September 14, 2020 6:57 AM by Jack Dennison
This is about your future that should direct your steps today! The matter is vitally important, and I hope you read this carefully! To the 25,000 Restoration Company Owners, I ask you,...
Posted on September 9, 2020 10:58 AM by Jack Dennison
Fear? Know-How? Confidence? Of the 25,000 restoration companies in the US, 80% are mitigation-only businesses. Would it surprise you to learn that many of those want to become full-service? But they don't...
Posted on September 8, 2020 11:46 AM by Jack Dennison
Owners should receive a salary of no less than $100,000 annually. While some smile at such a notion, others frown because they see no way of doing this. A young fledgling company...
Posted on September 8, 2020 10:29 AM by Jack Dennison
ROI measures the amount of financial benefit you receive from a particular marketing investment. We all make marketing investments in our business: Some contractors spend $2,000 or more on monthly Google AdWord...
Posted on September 1, 2020 11:20 AM by Jack Dennison
That was the greeting I recently received from one brash young contractor. “Tell me what you can do for me,” he said. After starting to recover my composure, I spit and...
Posted on August 18, 2020 8:14 AM by Jack Dennison
How many companies have a process in place for estimate review? I'm not just talking about checking an estimator's work to ensure they are not leaving money on the table. It...
Posted on August 17, 2020 1:35 PM by Jack Dennison
Every Owner knows how difficult it is to find quality workers. This is especially true for managers. Many owners struggle with knowing where to look, how to interview, and how to...
Posted on August 6, 2020 2:52 PM by Jack Dennison
A Change Order is any change, whether an upgrade or a downgrade that a customer makes to the approved scope of repair. There's only one way to document a change order...
Posted on August 6, 2020 11:23 AM by Jack Dennison
If you haven't, you likely have serious collection issues on unpaid balances owed to you. Lien leverage is your most valuable tool in getting paid by customers who don't want to...
Posted on August 2, 2020 3:29 PM by Jack Dennison
The treasurer hunt is our effort to find the lost or hidden treasure of missing items from an adjuster's repair estimate. When the staff adjuster writes a repair estimate, they typically...
Posted on July 28, 2020 7:00 AM by Jack Dennison
Many full-service contractors struggle with cash flow. They float the costs of their rebuild work and don’t get a nickel toward those costs until 45 – 60 days after completion. The...
Posted on July 22, 2020 5:51 AM by Jack Dennison
I have gone on the record to say that I LOVE … Xactimate … TPAs … and Construction. Each of these are hot buttons for contractor trash talk. Some contractors say of...
Posted on July 6, 2020 6:54 AM by Jack Dennison
Are you an entrepreneurial business owner looking for your next big move, rebuild services might be it! Of the 25,000 restoration contractors in the US, 4 out of 5 do Mitigation...
Posted on June 29, 2020 6:16 AM by Jack Dennison
It's really very simple. When you show up on the doorstep of a customer who is ankle-deep in water, they think, they expect, they want you to do all that is...
Posted on June 22, 2020 7:54 AM by Jack Dennison
Owners, don't ask your team if they want to grow your business. Why? Because they really don't! Owners and employees see the world differently. Owners want more, and employees feel they...
Posted on June 15, 2020 10:02 AM by Jack Dennison
Net profit is what's left over after all your work is done, and bills are paid. In restoration, we should expect net profit to be around 20%. If you make $1...
Posted on June 8, 2020 8:28 AM by Jack Dennison
Who doesn't have problems with controlling material purchases? We all suffer from employees and subs buying stuff that we know nothing about. They buy too many, they buy unauthorized stuff, and...
Posted on May 31, 2020 12:54 PM by Jack Dennison
FCC AV is the Xactmate code for Floor Covering Carpet Average Grade. It's important because it's the grade of carpet installed in 80% of US households. In Chicago, Xactimate pays $21.98 per...
Posted on May 18, 2020 6:19 AM by Jack Dennison
A contractor recently said this to me. I accept that not all contractors know how to make a good profit on rebuild, but the right question is whether there is good...
Posted on May 11, 2020 6:24 AM by Jack Dennison
In my company this Tuesday morning, 90-minute meeting included: Owner Managers Project Managers Estimators Office Manager Collections Agent That's about everyone but your techs. We reviewed every job whose status was just Received through Not Completed. In our company...
Posted on May 4, 2020 4:32 PM by Jack Dennison
I'm a construction management expert. As a Restoration contractor, I was a: Licensed General Contractor Haag Certified Residential Roof Inspector Colorado General Abatement Contractor Certified Aging in Place Specialist I know construction management and quality...
Posted on May 4, 2020 12:48 PM by Jack Dennison
Every performance evaluation begins with an assessment. Using a spreadsheet number top to bottom 1 – 10 and across the top, the name of each technician. Use this grid to record...
Posted on May 4, 2020 12:46 PM by Jack Dennison
Here are the best reasons to add roofing to your rebuild services: High volume of work – Hail storms produce tens of thousands of damaged roofs and could lead to hundreds...
Posted on May 3, 2020 9:14 AM by Jack Dennison
This series gives you everything you need to know about starting a restoration business. Once you decide to start a restoration business, you may recognize the value of business coaching. We all want to maximize our investment by doing the right things, in the right way, in the correct order, and at the right timi…
Posted on May 3, 2020 9:10 AM by Jack Dennison
What is the typical organizational structure for a restoration business startup?
Posted on May 3, 2020 9:07 AM by Jack Dennison
Restoration company startups need industry training and required certifications.
Posted on May 3, 2020 9:04 AM by Jack Dennison
Restoration business startups must buy equipment and provide personnel to do the work.
Posted on May 3, 2020 9:02 AM by Jack Dennison
Restoration company startups can make a lot of money in their first 12 months.
Posted on May 3, 2020 8:53 AM by Jack Dennison
Restoration company startups should not limit themselves to water damage only, be a full-service contractor who does the rebuild too.
Posted on May 3, 2020 8:48 AM by Jack Dennison
Restoration company startups do water damage, rebuild and roofing.
Posted on May 3, 2020 8:43 AM by Jack Dennison
Startup business owners look for recession proof industries. Is the Restoration Industry Recession Proof?
Posted on April 28, 2020 10:54 AM by Jack Dennison
Not really, but it does mark the start of the roofing season! I remember one hail storm that rolled through the Northern Colorado Springs, damaging 24,000 homes. Within a week, we...
Posted on April 20, 2020 8:11 AM by Jack Dennison
Most remodeling work for kitchen, bath, basement, decks, etc. has dried up thanks to Coronavirus. While some owners are happy to take a rest until things settle down, remodeling will be...
Posted on April 20, 2020 6:40 AM by Jack Dennison
You've been here before! The Great Recession of 2008 put 1.5 million construction people out of work. Half of all remodeling companies were crushed by the financial downturn and out...
Posted on April 17, 2020 9:04 AM by Jack Dennison
That's the question facing one contractor. They are a small company doing mostly roofing and a little mitigation, but no rebuild, and no TPAs. When they added TPAs and rebuild, in the...
Posted on April 16, 2020 9:09 AM by Jack Dennison
How do you determine value? Like most of us, it's what you get for what you give. That idea governs our investments, home purchases, equipment purchases, and more. The idea of...
Posted on April 15, 2020 8:08 AM by Jack Dennison
Remodelers remodel. The problem is that in the age of Coronavirus, no one wants to remodel. So what's a remodeler to do? I have written many times about how remodelers can...
Posted on April 13, 2020 12:29 PM by The Restoration Entrepreneur
No, yours – not theirs! Each time you join a TPA vendor program, you're given Program Requirements for that insurance company. They spell out the expectations of the relationship. In our program,...
Posted on April 13, 2020 6:58 AM by Jack Dennison
How much money can you make in this work? The average size of a mitigation job in the US is $3500, and the average size rebuild for that same $3500 mitigation...
Posted on April 13, 2020 6:26 AM by Jack Dennison
The most common way to get into the insurance industry is to add mitigation services. This includes water mitigation, mold remediation, and fire and smoke cleanup. It takes only a modest...
Posted on April 8, 2020 3:27 PM by Jack Dennison
Many remodeling contractors have given serious thought to adding insurance damage repair work to their remodeling services for several reasons: They want to increase annual sales, and this is a great...
Posted on April 8, 2020 9:06 AM by Jack Dennison
In the age of Coronavirus … SCHEDULED SERVICES are NOT working Carpet cleaning Tile & Grout Duct Cleaning Remodeling If it's discretionary work, it's NOT working. FACE TO FACE MARKETING is NOT working No agent marketing No plumber marketing No...
Posted on April 6, 2020 12:12 PM by Jack Dennison
The Paycheck Protection Program (PPP) authorizes up to $350 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. This program pays you to keep your...
Posted on March 28, 2020 12:55 PM by Jack Dennison
Knowing the difference may save you thousands of dollars each year. Pay sales COMMISSIONS for work you would not otherwise get. Pay no commission for TPA work assigned to you. Mitigation doesn't require...
Posted on March 26, 2020 12:07 PM by Jack Dennison
You've been here before! The Great Recession of 2008 put 1.5 million construction people out of work. Half of all remodeling companies were crushed by the financial downturn and out...
Posted on March 26, 2020 7:08 AM by Jack Dennison
Not an equipment inventory, but an inventory of your life and business. Life-changing inventories begin with reflection, followed by a plan, and are completed with commitment. Personal Reflection: What do I like least/most...
Posted on March 25, 2020 6:56 AM by Jack Dennison
The traditional troika of restorer's marketing insurance agents, plumbers, and property managers is dead. Can you imagine sitting across from an insurance agent, each wearing protective gloves and a mask...
Posted on March 20, 2020 7:57 AM by Jack Dennison
Some Restorer's stay out of rebuild work because of myths and misinformation. Here are the facts! What about licensing? 50% of States don't require a GC license, and many others require a Home...
Posted on March 19, 2020 10:58 AM by Jack Dennison
During this pandemic, full-service is more crucial than ever. Damage repair customers don't want to deal with the added dangers of multiple companies, multiple managers, and multiple offices. They want you...
Posted on March 15, 2020 11:55 AM by Jack Dennison
In the face of the global pandemic and US national emergency, life has changed. What can Restorers expect for your business and work? Protect your workers: · Check them daily for fever...
Posted on March 9, 2020 6:42 AM by Jack Dennison
I know one contractor active on 4 TPAs that represent 42 insurance companies. Another is active on 26 carriers through Contractor Connection alone. A single TPA gives you access to a large...
Posted on March 1, 2020 9:29 AM by Jack Dennison
The sectors hardest hit by the Great Recession were financial services and construction. 1.5 million construction workers lost their jobs. 50% of remodeling companies were out of business by 2012. A...
Posted on February 27, 2020 10:36 AM by Jack Dennison
What profit margin does your water division, rebuild division, or mold division produce? Job costing provides the per job profit margin, but how do you get the division-wide profit margin...
Posted on February 27, 2020 10:32 AM by Jack Dennison
It's important that you track the KINDS of money you make. Water Mitigation Money Mold Remediation Money Fire Cleanup Money Rebuild Money Track your KINDS of money gives an accurate picture of how you are...
Posted on February 12, 2020 7:59 AM by Jack Dennison
Don't miss your best opportunity to market insurance agents. There is only ONE time they are interested in talking to us and we need to take advantage of that, every time!
Posted on February 3, 2020 6:56 AM by Jack Dennison
Watch Out All You Mitigation-Only Companies the Pendulum Is Swinging to Full-Service A mammoth shift is underway in the restoration industry! There are mounting expectations for restoration companies to provide both mitigation...
Posted on February 3, 2020 6:38 AM by Jack Dennison
I just have to share this with you! Here is a 5-star review given by a former client contractor. It is just too good to not share with others. Easily one of...
Posted on February 3, 2020 6:34 AM by Jack Dennison
OK, guys, … I’m sorry … just one more time. I have to share just one more 5-star review with you. Numbers are all important and really do tell a story....
Posted on February 1, 2020 7:12 AM by Jack Dennison
Every once in a while, an economic bubble occurs. It happened with oil, it happened with tech, and it happened with housing. When you see it building, you know it’s a...
