Are You Calculating Profit Margins Correctly? The Secrets to Profitable Home Services

I'm excited to share insights from a recent episode of the Profitable Home Services Podcast where I had the pleasure of hosting Jeremy Lowe from Profit Rhino and Service Fusion. With over 40 years of experience in the industry, Jeremy has a wealth of knowledge to share. We explored the vital role of financial education for business owners. A surprising number of students struggle to calculate profit margins correctly, emphasizing the need for entrepreneurs to take control of their finances

In this episode, we discussed:

• Jeremy’s love for photography and the importance of paying attention to opportunities

• Discussion on flat rate pricing and its benefits

• Importance of understanding the financial side of running a home service trade business

• Misconception that sales are the lifeblood of a business, emphasizing profit and cash flow as key drivers of success

• Fear and discomfort business owners have when it comes to understanding their numbers

• Importance of education and training for contractors in the home service industry

• Aim for higher net profits and working on the business rather than being constantly busy

• Importance of working with customers who appreciate and value your services

• Unique profit leaks in home service businesses and finding innovative solutions to maximize profitability

 

Listen to all episodes at https://profitablehomeservices.com/

Get a free copy of the Path To Profits Book at https://yourpathtoprofitsbook.com