In the tighter economy, remodelers are asking trade contractors to shave costs. The key is to communicate why — and what's in it for them.
This Q&A with Big50 remodelers asks how the economy affects their pricing and bidding.
Incremental adjustments in critical financial benchmarks are less disruptive than drastic changes — and often more effective.
By tracking the actual and budgeted costs of individual line items for each job, Creative Contracting is able to easily pinpoint slippage.
By now your 2009 budget should be nearly complete — how does it look? Are you making the money you, as owner, need to make?
Don’t be afraid of open-book management, says one remodeler whose profits, productivity, and staff cohesiveness are stronger as a result of showing his employees the numbers – right down to his own compensation.
Industry consultant Leslie Shiner shares tips on how to add labor burden into your employees' hourly rates.
When John Gemmi of Gemmi Construction, in Doylestown, Pa., started sharing each project's financial information with his four lead...
Any amount of slippage, if consistent, will quietly and effectively kill your year. Some slippage is just bad luck, but here are eight...
Soon after transitioning from cost-plus pricing to a fixed-price system, Art Stinson's Trace Ventures ran into trouble with slippage...
Tips for helping remodelers avoid the hit when prices spike and shortages loom.
Of the four methods used to recognize income, costs, and profits on construction contracts, cash and accrual are most familiar. The best accounting method for remodeling projects is percentage of completion because it recognizes revenue, cost, and gross profit throughout the life of each contract...
