How to Increase Contractor Profit Margins

Low cost, high impact projects add to your bottom line

How to Add More to Your Bottom Line this Year

For contractors remodeling projects are a valuable (but potentially stressful) revenue stream. The anticipation of executing a perfect plan can quickly turn to worry when considering expenses and making sure you come out ahead financially. The goal is to make a profit while also delivering a quality product that you, your crew and your client can be proud of. Here are five ways you can add to your company’s bottom line this year.

1. Get to Know Faux Stone and Brick Veneer

Siding replacement is one of the most valuable remodeling projects in home improvement.  With GenStone, you can cut costs significantly without sacrificing quality and increase your project profit margins as a result.

GenStone stacked stone provides the look and feel of real stone without the labor costs of a mason. Anyone on your crew is capable of stone veneer panel installation and with up to 7 SQFT installed with each panel, your crew will be done and on to the next profitable job in hours not days. If you prefer brick, GenStone’s brick veneer has the authenticity of real brick with the same easy installation.

2. Use Payment Plans

Remodeling projects can be very expensive. Reduce sticker shock by giving the client some options. By offering payment plans or financing, you can put the client at ease, reassuring them their dream project is not out of reach. Upgrades in design are more reasonable when broken down into smaller payments. If you’re not offering payment plans, you’re likely missing out on potential business. The best part is, you don’t have to be a large business to introduce customer financing options! Here’s an easy to follow article from PayPal outlining how you can start offering a financing avenue to your customers now.

3. Offer Low-Overhead, High-Impact Projects

Some projects make more noticeable improvements to a property than others. Replacing a front door, for example, is a high-impact project that doesn’t carry the expenses of, say, remodeling a kitchen or bathroom.

You are able to get the most bang for your buck by offering projects that provide value to the client and cost less for you to complete.

4. Know What’s Trending

Home and business owners are always thinking of ways to improve their properties. Some know exactly what they want, while others need direction. Social media sites like Pinterest are a great way to see what types of improvement projects are popular this year. You can also visit our project catalog to see how people throughout the USA and Canada are using faux stone to get the look they want. Spending a few hours a week getting to know what’s trending in the world of improvement projects will help you guide your clients towards their goals and grow your profit margins.

Before Contractor Work Increase Contractor Profit with Photos
5. Document Your Work

With the popularity of YouTube and Instagram skyrocketing,  customers are becoming more and more visual. Your experience as a General Contractor is obviously the most important deciding factor in a customer’s mind, but showing the results of your past projects is also significant. Don’t just settle for a quick picture as you leave the job site, focus on before and after shots. These types of visuals inspire property owners. A before and after shot is easier to do with a video and you can simply talk behind the camera to explain what was done. If you decide to take a still photo, make sure to take the photo from the exact same place as shown in the before and after images above.

Need Help? We’re Listening

Our team is here to help! No matter where you are in the process of planning your project, we are available to answer any questions you have about our faux stone system. Send us a message on your favorite social media platform or give us a call to get in touch with our support team.

You can also visit our help center for answers to our most frequently asked questions or open a support ticket if you can’t find the answer you’re looking for.

Visit Our Help Center

1-800-425-0788

Stratford Stacked Stone and Pillars

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