Collier Consulting Group

Financials Workshops

If you want to make double digit profits in plumbing or HVAC, you must be priced correctly to cover your cost of sales and overhead. Learn how to position yourself according to your market, develop Flat Rate pricing schemes for your service department, implement variable multiplier systems for selling parts, properly estimate new construction work and replacement quotes. Pricing for your company should be developed and reviewed every six months. Remember, if you are too busy, your pricing is probably too low!!

As one contractor said, “ I didn’t go bankrupt, I just ran out of time and money”. Prudent management of cash, proper pricing and collections, and strategic billing strategies all have an effect on cash flow. If you do not have the money in the bank, you cannot pay your bills, meet payroll or grow your company. We’ll discuss how to set up a cash flow projection strategy for your business and how it impacts your budget for the following month. We will teach you how to calculate breakeven sales for the month and develop collection techniques to keep the money flowing.

You are not an accountant, and probably never went to business school. But great contractors run their business on a monthly basis with the balance sheet and profit/loss as a road map to success. We will dissect your financial documents that you bring to class and teach you how to interpret them to help you manage your business. You’ll see great financials from successful contractors who consistently score 20% or more Net Profit in their companies and apply some of their techniques to your business. Remember just because you are busy does not mean you are making money.

Sooner or later all contractors will make a decision about stepping out of their business to pursue other activities or retirement. However, who do you sell the business to, how much is it worth, what tax strategies best fit, and can you do anything to make the business more attractive to a potential buyer? All these questions and many others will be explored whether you are selling your business to a peer, coworker or family member. Many business transactions are disappointing or even fall apart because the sellers did not do their homework.