Financials

selling a division of your remodeling company to an employee can be good

Selling a division to a trusted employee like Jason DeLong (pictured here) gives peace of mind that your hard work will be in good hands.

You’re ready to sell part of your remodeling business, and an employee is interested in buying. But where do you start?

This month, the Remodeler’s Exchange focuses on how to effectively protect your profit margin in an increasingly competitive marketplace.

Let’s start the year off with some good news. If the remodeling industry continues at the pace recorded at the end of last year, remodelers will experience a fourth consecutive year of increased spending in 2014.

How do we pass lessons learned so the next generation will respond better, quicker, and with fewer mistakes?

David Lupberger

Only 1 percent of surveyed business owners rated their successions plans as “excellent.”

This FREE webinar offers clear explanations of markups, margins and profits, along with some common pitfalls to avoid.

Craig Durosko, GMR, CR, CGP

Personal weakness could also be a weakness in your business.

Mark Richardson, CR

If you don’t know where you are heading, any road will take you there.

Slight decrease signals traditional slowdown into winter.

Remodelers continue growth year over year.

This new index replaces the Improving Markets Index and will shift the focus from identifying markets that have recently begun to recover to those that are now approaching and exceeding their former normal levels of economic progress.

“In the near term, homeowner spending on improvements is expected to see its strongest growth since the height of the housing boom,” said Kermit Baker, director of the Remodeling Futures Program at the Joint Center.

While the LIRA continues to project annual improvement spending increasing at a double-digit pace in the near term, a slowdown of this growth can be expected by the middle of 2014.

What is the key to managing a successful budget?

“In the near term, homeowner spending on improvements is expected to see its strongest growth since the height of the housing boom,” says Kermit Baker, director of the Remodeling Futures Program at the Joint Center.

Professional Remodeler is looking for firms that thrived in 2013.

 

Financing has changed so much over the last few years. The more information you can offer your client about financing, even while a project may be still in design, the more successful you will be seeing the project though to completion.

RMI future market results are promising. Not only do remodelers have projects booked for the next few months, but they also have more work coming in the door.

Our PRIME advisory panel includes some of the remodeling industry’s top professionals. This month we asked, “If you had only three metrics to manage your company, what would they be and why?”

Professional Remodeler’s annual Market Leaders list, which identifies the top remodelers in the nation’s major markets. Many remodelers reported a better 2012 than 2011, as well as further positive sales trends for the first half of 2013.

Lending practices still affecting the size of projects, delaying others, but financing is better than it was two years ago.

This month we asked, “Is the market in 2013 meeting your expectations and projections?”

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