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/
--
⚡ Learn more about us: https://www.TheWealthyContractor.com/
⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).
⚡ Follow us on social media:
Facebook: https://www.facebook.com/TheWealthyContractor
Instagram: https://www.instagram.com/TheWealthyContractor/
LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/
--
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!
Chris Behan - Ep.39 - What You Need to Know About Digital Marketing in 2018
James Brooks - Ep.38 - From Near Bankruptcy to Thriving and Profitable
Aaron Magden - Ep.37 - How to Systematically Scale Your Sales Team
Ellen Rohr - Ep. 36 - From “The Plumber’s Wife” to the Profit Queen
Justin Bartley - Ep. 35 - Lessons from a $16MM/yr Window Company
Bob Sheehan - Ep. 34 - Manage Your Marketing for Predictable and Reliable Growth
Tara Dawn - Ep. 33 - How to Run A Profitable Home Improvement Business From 1,000 Miles Away
Greg Joyce - Ep. 32 - How to Increase Your Profit 900% in 4 Years!
Tom Reber - Ep. 31 - Creating The Business You’ve Always Wanted
Brian Kaskavalicyan - Ep. 30 - 4 Proven Strategies for Profit Driven Growth
Todd Bairstow - Ep. 29 - What Can You Learn From a Guy That Generated Over 60,000 Leads This Year
Ron Greenbaum - Ep.28 - Growing Your Business From The Ground Up
Brian Kaskavalciyan - Ep.27 - The Secrets to Designing a World Class Customer Experience
Ger Ronan - Ep. 26 - How Giving More Makes You Make More: The Law of Reciprocity
Greg Crabtree - Ep. 25 - Are You Profitable Enough?
Jeff Heger - Ep. 24 - How to Make Money While Taking a Vacation
Mike Bruno- Ep. 23 - Maximize Profitability & Control Your Financial Future
Brian Kaskavalciyan - Ep. 22 - The One Marketing Tool Every Business Must Have!
Harley Magden - Ep.21 - Explosive Market Expansion
Troy Timmer- Ep.20 - The Secrets To Getting No-Competition Referrals So You Can Stop Competing on Price
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Organic Marketing Simplified: Master podcast marketing, fuel podcast growth, and make money podcasting!
THE GO BIZ GUY
The Sigma Femme Podcast
The Prof G Pod with Scott Galloway
Habits and Hustle