387: Your Roofing Business is NOT Making a Profit: You Just Don’t Know It!

The Roofer Show

I’m building on last week’s show, Episode 386, about the “halftime” or mid-year review in your business. It’s time to gear up for the 2nd half, run out of the locker room, and kick some ass! If we know the score (our numbers), we can make adjustments, formulate a game plan, and come out to WIN. This episode is about building a strong foundation to withstand the many downturns of the roofing business. Join me to learn more!

What you’ll hear in this episode:

• Know your KPIs! (sales, gross profit margin, cash flow, etc.)
• The rule for owner’s pay: take home 10% of sales ($2 million in sales = $200k for you)
• Other accounts you need: savings, retirement, kids’ college fund, life insurance, disability insurance, etc.)
• A good CPA should reduce your taxes!
• Don’t confuse gross profit and net profit!
• “Profit is for sanity, and cash is reality.”
• Understand your monthly financial statements.
• Construction accounting is set up differently than other businesses because of job costs.
• The strength of your business is found in three reports: your P&L report, balance sheet, and cash flow analysis (We offer Fractional CFO services! Email Dave: [e-mail].)
• Your business should be a no-scale zone.
• Need to make more profit? Cut your overhead, lean up your business, and look to outsource tasks.
• Your marketing budget should be 5% of your sales; you need a good website that converts, SEO, GMB page, review process, and brand visibility.

Resources:

Set up a FREE strategy call with Dave and get a few tips on how you can improve your business: https://davesullivan.as.me/free-strategy-call

Interested in learning more about our 1-on-1 coaching, our mastermind groups, or our fractional professional services? Email me at [e-mail]. or text me at [phone].

No Plan? No problem. Download our FREE 1-Page Business Plan For Roofing Contractors https://theroofershow.com/plan.

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