Your guide to profit margins and making more money
As part of our ‘We mean business’ series, we’re looking at costing each job accurately – and by that we don’t just mean the materials and labour – but the overheads for running your business and the profit margin you need to allow for too. We’ve even created a Microsoft Excel spreadsheet populated with the descriptions of the types of overheads that you can download and use for your own business.
If you don’t already work towards achieving a minimum surplus each month – then read the guide… but beware, it features lots of health warnings!
How do you judge your profitability currently? Based on how busy you are? How many jobs are going through each month? It’s very easy to be ‘busy’ and to think you are making money, especially if today, there is cash in the bank. And there are plenty who are happier being constantly busy even if not every job is profitable.
Hopefully by the end of this guide you’ll have some valuable food for thought, and ideas for helping your business grow.
And if you think you won’t win the work if you charge the full whack, then you should read these articles:
Through our partnership with The Better Business Group you can receive a FREE over-the-phone 1-hour Business Review and Mentoring Session. Includes detailed surveys of your last six jobs – an amazing insight into your customer likes and dislikes.
Download your handy Overheads Forecast Excel spreadsheet AND profit guide