In her 13 years of running a remodeling business, April Bettinger of Nip Tuck Remodeling has been consistently profitable. She does it through practical planning, financial knowledge, and strong customer relationships.
"I think that a lot of contractors don't have a mindset that you can have 10% profit, no matter what you're doing, you just have to actually plan for it," Bettinger says on this episode of Women at WIRC. "It's a purposeful event, it's not going to happen by accident that you are profitable. And growth takes money. So if you don't save your money, you are really not set up for success to grow your company."
Listen to hear how Bettinger utilizes org charts for financial planning, her breakdown of costs, and her personal financial rules.
Bettinger will be speaking at the WIR+CC Conference 2023 this October in Nashville. Click below to learn more information.
RELATED: Women in Residential + Commercial Construction Conference 2023
Add new comment
Related Stories
3 Things to Add to Your Construction Contract—From a Lawyer
Did you know you can add these three elements to your contracts?
Study Finds Remodelers’ Net Profits Declined
How far did net profits decline and what's influencing the drop?
The Home Depot Bets on Pros Amid Predictions of Flat Sales Growth
For the first time since 2019, The Home Depot’s revenue fell short of Wall Street’s predictions amid a general softening in the home improvement market
Indicators of a Softening Market and How to Prepare
Market conditions could be changing, but don't panic. Richardson shares ways to stay on top of market conditions and how to prepare for any potential softening down the road.
Grow Your Business Through Collaboration with Remodeling Peers
Remodeling Mastery Forums offers a unique business opportuniy for remodelers
Why We Hired an In-House Estimator
Bringing an estimator into your remodeling company creates sweeping benefits.
5 Tips on Setting up a Collection System
Construction lawyer Thomas Croessmann walks contractors through 5 tips on setting up a system for collecting payments from clients.
Remodeling Market Predictions: 2022
A Pro Remodeler Thought Leader reveals what he sees happening in 2022
What Profit Margin Should Specialty Contractors Aim For?
The problem with hoping to break even with a meager profit percentage is that it sets precedence. There’s no goal in mind, so there will be no goal to drive a team toward.