Wednesday 16 September 2020

Have You Tapped Into the Biggest Moneymaker in Our Industry?

Posted by at 8:21 AM

Have You Tapped Into the Biggest Moneymaker in Our Industry?

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! They want more revenue, higher profits, open up new markets, add services, and generate more work?

The most dynamic trend of change blowing across the restoration industry today is the move to "full-service." Customers want to make one call to one contractor, who can do it all. They don't want to be their general contractor overseeing the work of three or four contractors to complete their damage repair.

Adding this revenue generator and profit-maker isn’t as hard as you might think! I began my franchise company as a mitigation-only contractor. The franchisor told me that doing only mitigation was the right way to go. Construction was just too hard, and the margins too thin. They urged me to stay away!

Was that the wrong advice!

As my mitigation company grew, I ran the construction numbers and found I was losing out on the largest profit generator available!

Think about this scenario, will you? The average US mitigation job is about $3,000, while the average build back is approximately $12,000 in size.

Profit margins for mitigation should come in around 75%, and rebuild work should be closer to 50%.

Consider these numbers:

  • The average mitigation job is $3,000 @ 75% profit = $2,250 net profit.
  • The average construction job is $12,000 @ 50% profit = $6,000 net profit.

What a difference! If you are a $500,000 mitigation-only company doing nearly 200 jobs a year, you could increase your gross revenue by as much as $1.5 million and your profit by as much as $750,000 by becoming full-service.

If you secured only half (100) of the total construction opportunities available, you would more than double your business. That $500,000 mitigation company could become a $2 million business in 24 months.

Isn't that worth the effort?

As I mentioned, adding construction services is not as hard as you think, and there is plenty of help available to coach you along the way.

If you want to fast track your growth, become a full-service company. Most of the really good things happening in our industry today are happening to full-service contractors.

Adding construction services was the smartest decision I ever made! You can do the same, and it will change your life.

Take a look at the extraordinary results reported by contractors I’ve helped - https://www.growmyrestorationbusiness.com/successes

What I have done for them, I can do for you!

CALL ME TODAY for a FREE 30-minute consultation to learn how coaching can help you grow your business. Call 800-655-1598 or email me at Jack@growmyrestorationbusiness.com to schedule a phone call.