EPISODE 198: What does it take to be a truly profitable business in our industry?
Yes, you can close a lot of sales, up to millions of dollars a year, but that doesn’t always mean that your profitability will be great (or even exist in the first place).
To discuss this in more depth, I’ve invited an expert on profitability to this week’s episode of The Wealthy Contractor.
Her name is Megan Curry and she is the director of operations in her family-owned business, a home improvement remodeling company called Revelare Kitchens.
With two main offices serving eleven states, Revelare Kitchens has created one of the most profitable contractor businesses in the country.
And this is all thanks to their profitability business model.
In this episode, Megan will be discussing the levers that create profit for businesses in our industry, the importance of engineering your profit, why your P&L matters more than you think, what is preventing you from achieving the money you deserve, and more.
Ready to learn more?
Let’s dive in.
Key Takeaways:
Introduction (00:00)
Meet Megan (01:09)
Let’s talk profitability (06:51)
What is preventing you from boosting your profits? (09:23)
Gross margin overview (12:42)
How to improve your P&L (19:31)
How to start engineering your profit (27:30)
Additional Resources:
🔥 Use code “WEALTHY24” to get $100 off on your ticket to Accelerate LIVE:
https://www.accelerateevent.com/
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The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!
Why You Don’t Want to Miss This Year’s Accelerate LIVE! | Dale (DJ) DesJardins
Tested Sales System for a Thriving Business | Ryan Engelbrecht
196. The Millions Within | David Neagle
195. How to Make the Dream Happen | Charlie Gindele
194. What It Takes to Go the Distance | Brian Kaskavalciyan
193. How to Do More Business (with Less Headaches and MORE Profit) | Scott Berman
192. The Price of Success | Gordon Fairbanks
191. How to Keep Profits from Leaking Out of Your Marketing Funnel | Tim Musch
190. Know the System Like the Back of Your Hand | Abby Binder
189. How to Get Rich From Your Home Improvement Business | Brian Kaskavalciyan
188. Making Money By Design | Mark Curry
187. Relentlessly Refine Your Business | Trent Stone
186. Enjoy the Ride | Larry Gebhart
185. Close More Customers with A.I. & Speech Analytics | Sebastian Jimenez
184. Get Clear On Your Vision | Brian Kaskavalciyan
183. Make Leads Out of Nothing | Megan Beattie
182. Fine Tune Your Way to Success | David Silverstein
181. The Shift Required to Scale Your Business | Doug Chadwick & Ray DiCrecchio
180. Incredible Growth in Down Times | John Verhoff
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