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Free estimates, I think they’re dumb!

February 23, 2014 – 10:28 am

The arguments for free estimates has been around forever: Buyers expect them- my competition gives them- its good for business- its ridiculous to charge for them- no one will pay for an estimate- its the cost of doing business- my Mother told me to give free estimates, these and any argument you would like to […]

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Markups- Margins & Lady Gaga

January 27, 2014 – 2:05 pm

LADY GAGA MAKES MONEY – SO SHOULD YOU!

Lady Gaga makes money.

How much markup does Lady Gaga use?

Old news maybe, but read up anyway:

Margin
Margin is percentage of the final selling price that is profit.
Markup
A markup is a percentage added to the cost  and the cost and added percentage becomes the selling price.

Markup and margin are different, a selling price with a margin of  50% results in more profit than a selling price with a markup of 50%.

Marking up your costs by 50% results in a margin of 33% or 33% gross profit.

Overheads (like rent, fixed costs, corporation tax, wages, etc) still need to be deducted before you can know if you made money or not. Your net profit is what’s left after everything else has been accounted for.

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To give or not to give?

December 28, 2013 – 7:48 am
To Give, or Not to Give

To Give, or Not to Give, isn’t that really the question? Over the last year, there have been several discussion out on LinkedIn regarding the giving of “free” information to the client during the sales process.  Free information is plans, some specs, and perhaps some advice about their project. Conventional wisdom from the “well-respected” contractors […]

Dietz vs Perez man bites dog!

December 31, 2012 – 8:50 am
Gavel

Chris Dietz, a remodeling contractor, has sued Jane Perez, the woman who hired him to work on her home, for libel. Ms Perez has written scathing reviews on Angie’s list and Yelp about Dietz Development LLC of Washington DC  claiming shoddy workmanship, billing for work not done, theft and trespassing. Now Chris Dietz is suing […]

New Remodeling Group in the News

December 4, 2012 – 1:40 pm

NACRA: New Industry Association Takes Shape Association hopes to attract small contractors and offer lead generation services. By Nina Patel A new industry association, North American Contractors & Remodelers Association (NACRA), is offering contractors a low-cost membership and hopes to generate leads for its members. Founder Spencer Smartt, a general contractor in Dallas, says that the […]

Low voltage home wiring

December 2, 2012 – 8:10 am
Low Voltage Wiring

What is low voltage wiring? Low voltage wiring systems have been around for over 50 years. First made popular in the 50’s and designed into modern American homes and promoted by architectural luminaries such as Joseph Eichler and Terry Waters

My husband doesn’t finish anything!

November 20, 2012 – 2:55 pm

A reader from Waterbury, CT asks…………….. “Dear Paul, my husband thinks he can do anything when it comes to home repairs or improvements and I do appreciate his efforts but, he never finishes anything. He painted the front door but never finished the top piece of wood over the door and he also installed a […]

Move over NARI there’s a new kid in town.

November 1, 2012 – 10:00 pm
Move Over NARI

NARI is 50 years old and has 7000 members out of a pool of 600,000 contractors and service providers.  WOW! There are plenty of small professional remodeler groups in our splintered and funky industry and these groups have anywhere from 2 or 3 to a few hundred members. There are also a few large organizations […]

5 Types of Construction Fraud That Require Legal Action

October 5, 2012 – 11:36 am
Construction Legal Action

Unfortunately, fraud is far too prevalent across all industries today – including the construction industry. So it’s important to understand the common types of construction fraud that could require legal action. Forging Payments One of the most common types of construction fraud is the falsifying of payments. False pay applications come in various forms:

Ask The Paul – Q&A

October 3, 2012 – 4:25 pm
The Paul

Sex,tools and chocolate! Everyone remodels or wants to remodel. Do you have tools? Do you have the skills? Will your friends work for chocolate? Ask the Paul is the love/hate child of Bob the Builder and Dear Abby. Got a question? Ask The Paul. (click to submit a question) The Sex part, hey, that’s usually […]

Paint Colour Names

October 2, 2012 – 11:16 am
Color Choice

Gone are the days where you could breeze into your local DIY store and pick up a pot of paint labelled orange, green or blue. Weird and wacky paint colour names seem almost compulsory nowadays, with brands competing against each other to come up with the most striking names for their ranges. Marketing Paint names […]