Michael R. Morris
If you're bringing in more than $2 million a year and your business is in good shape financially, stop what you're doing and pay attention to what I'm about to say.
Now is the time to consider ramping up your business and grabbing more of your local market share.
The time is ripe for profitable, established, professional remodeling firms like yours to eliminate — once and for all — the amateur unprofessionals who have handicapped our industry since (at least) the 1970s.
We stand at a crossroads in this industry after 10 years of massive growth, and the companies that have profited over that time have a great opportunity to do two very important and exciting things: profit beyond their wildest dreams by expanding the scope of their business and help shed the black eye this industry has endured by exterminating all the shysters, cheats and bad businessmen who have inhabited it.
It's gut-check time. Do you have what it takes to grab this opportunity and run with it?
Imagine what your business would look like five years from now if you decided today to leverage your healthy brand by investing existing capital in expanding your operation. What if I said you could triple your annual salary, create dozens of great jobs for a reputable local company (yours!) and help leave an indelible mark on the future of remodeling?
What we need in this industry are more reputable companies and fewer fly-by-night amateurs dragging down remodeling's reputation. Industry experts have paid lip service to the concept of consolidation in the remodeling industry for years, but now is the perfect time for that to happen for several reasons.
First, the downturn in new home construction in most markets has forced builders to lay off a lot of experienced, talented building industry professionals — from laborers and lead carpenters to sales people and managers. They would hit the ground running for you and no doubt be proud to work for a respected, growth-oriented remodeling firm such as yours. And you can offer them a benefit package and pay rate that smaller remodelers in your area surely can't.
Second, most markets are seeing a large increase in potential remodeling clients who have decided to make improvements, additions or alterations to their own homes rather than build a new house or purchase a larger one.
Third, and perhaps the most important factor in your favor, you have a strategic advantage over your smaller, less-experienced competitors because of the brand awareness, existing systems and sound financial state you've gained after all these years of high volume and profits.
When you look back on this moment five years from now, will you see an opportunity gained or lost?