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!
141. Accelerate Your Success in 2022!
140. How To Boost Profits And Shorten Your Backlog | Rick Grosso
139. Transform From Business Operator To Owner | Bryan Miller
138. Controlling Your Growth | David Silverstein
137. Being Radically Intentional | Sherri Miles-Foley
136. The Manual for Success | Jeff Heger
135. Breaking Through Your Subconscious Road Blocks | Sydney Barrows
134. Building Your Company with Your Core Values | Michelle Boykin
133. Retain Key Talent | Justin Bartley
132. The Process to Grow & Scale Your Business | Brad Bettner
131. Would You Rather Be Right Or Rich | Brian Kaskavalciyan
130. Building Your A-Team | Ed Eppley
129. Market Your Business Like a Shark | Joe Altieri
128. In It Together | Michael and Linda Olen
127. Speed To A Lead | Megan Beattie
126. A System That Works For You | Dan Beattie
125. Never Seen Before | Charlie Gindele
Profit Changes Everything | Brian Kaskavalciyan
124. Fuel For Growth | Scott Berman
A Special Independence Day Message | Brian Kaskavalciyan
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