Compare your contracting firm’s numbers to those of your peers
If you are a renovator or custom homebuilder in Canada, you need to know about this new program
November 10, 2016 by canadiancontractor
Would you like to know the pricing and profits of other contracting firms just like yours?
Your customers won’t tell you. Only other contractors will tell you.
Could this really happen?
It has been happening for years! Canadian Contractor first reported in 2002 about how North American renovation contractors and homebuilders were sharing their profit/loss statements, balance sheets AND strategies for success with each other.
These behind closed doors number-sharing events are called “peer groups.” This sort of number-sharing happens between firms in other industries, too.
Now, Canadian Contractor and Renovantage are establishing Canada’s first-ever Contractor Peer Group meetings. If you gross more than $1 million, you need to be involved.
You’ll be able to compare your business with those of your peers’ line items such as:
* Gross revenues
* Labour costs – employees vs. subtrade ratios
* Material costs
* Equipment and vehicle costs
* Marketing costs
* Gross and net profits
* Owner’s compensation
* Dividends and profit-sharing
* Long- and short-term debt
Your fellow Peer Group members become your board of directors, helping guide your long-term strategy, pushing you to meet your goals and helping you build the company you always knew you could.
If this sounds like something you should have been doing years ago (it is), here’s your opportunity to join a Peer Group right now.
Be aware, Peer Groups are NOT cheap. Neither are they designed for contractors who are already happy with the way their businesses are headed.
For more information please email Canadian Contractor publisher Rob Koci (firstname.lastname@example.org).