Half of the 25,000 restoration businesses in the US never grow larger than $500,000 in sales. If they make it beyond this point, they hit another hard ceiling at around $1 million. Breaking through the $1 million cap on the way to $3 million, $5 million, and more almost always requires two money-making generators:
- These companies are full-service performing both mitigation and rebuild services
- They get a lot of help from TPAs
Full-Service Not only does full-service unlock the door to greater revenue and higher profits but it provides diversity to the size and kind of jobs that you just don’t get from mitigation alone. To make $1 million a company has to do 400 mitigation jobs, or 100 rebuilds, or 5 fires. Where do you want to put the balance of your energy toward growing your business? Keep in mind that you have to do about 400 mitigation jobs to earn $1 million. Those same 400 customers could generate as much as $4 million in rebuild sales. Incredibly, a $1 million company discovers a built-in means to generate $5 million and never increases their customer base. Where else can one find such an extraordinary business opportunity?
Third Party Networks Receiving direct assignments for which there is no bidding, competing, or downward pricing pressure is another primary means of unlocking the door to growth. Approaching a potential customer as a representative of their insurance company can help guarantee you keep the job and take it to completion. It's hard to match the potential volume of TPAs through just about any other means. TPAs honestly just keep on giving.
While The Business Transformer will do a lot more for you than this, the two common factors of large and rapidly growing companies are the two top money-making generators of this plan. Growing your business requires increasing your top line revenue and protecting and improving your bottom line profits. Revenue growth is a by-product of effective marketing and profit growth is an outcome of operational efficiency. How would you like to pair up with a personal trainer that will help you excel at both?
Reference: (The Business Transformer (Double, Even Triple Your Business in 18 – 24 Months) https://growmyrestorationbusiness.com/successes/