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Hey guys,
New to this site because I normally only go on car forums, but I'm delighted to find a place that might be able to offer some help and insight.
My situation is pretty clear cut. My brother is an E1 Master in CT, and owns his own contracting business. I currently work for him, but the business doesn't run smoothly and there are lots of underlying problems financially. I have a good amount of business experience and have built a few from nothing into profiting outfits, so he's handed over control of the financial aspect of things so I can try to turn it around. I have a few questions and any input is greatly appreciated whether it's about a question I've asked or otherwise. Thanks guys!
Questions:
-Does a bidding software exist and it is better than an excel spreadsheet?
-What types of marketing seem to be the most effective?
-How do you handle payments, and do you have a late fee's or arrangements?
-How do you estimate labor hours on a buildout?
-What should a 2 man contracting business gross monthly?
-What aspect of the trade generates the most money in the least amount of time? Ex. service change, new construction, generator install, ect.
-Do you split up payments based on progress for a job. i.e. 4000+ sq/ft house, do you collect all at once, or once at rough in & once at finish.
-How do you stay organized throughout the day in concerns to invoices, receipts, ect.
Again, thanks in advanced guys. I really appreciate it!
-jamesofalltrades
New to this site because I normally only go on car forums, but I'm delighted to find a place that might be able to offer some help and insight.
My situation is pretty clear cut. My brother is an E1 Master in CT, and owns his own contracting business. I currently work for him, but the business doesn't run smoothly and there are lots of underlying problems financially. I have a good amount of business experience and have built a few from nothing into profiting outfits, so he's handed over control of the financial aspect of things so I can try to turn it around. I have a few questions and any input is greatly appreciated whether it's about a question I've asked or otherwise. Thanks guys!
Questions:
-Does a bidding software exist and it is better than an excel spreadsheet?
-What types of marketing seem to be the most effective?
-How do you handle payments, and do you have a late fee's or arrangements?
-How do you estimate labor hours on a buildout?
-What should a 2 man contracting business gross monthly?
-What aspect of the trade generates the most money in the least amount of time? Ex. service change, new construction, generator install, ect.
-Do you split up payments based on progress for a job. i.e. 4000+ sq/ft house, do you collect all at once, or once at rough in & once at finish.
-How do you stay organized throughout the day in concerns to invoices, receipts, ect.
Again, thanks in advanced guys. I really appreciate it!
-jamesofalltrades
