Category
Financials
A tax lesson
by Rob BlackstienThis contractor was fined for evading taxes
New home construction surges in Saskatchewan and Newfoundland
by Steve PayneBoth Saskatchewan and Newfoundland had seen their new homes numbers depressed by last fall’s plunge in energy prices, so the May new homes results were unexpected.
How much are renovation workers making, south of the border?
by Steve PayneThey are making everywhere from $58,230 in D.C. to $19,316 in Montana, Remodeling magazine tells us…
How to manage your contracting business using the 3 M’s
by Steve Payne“Measure, Monitor and Manage.” These are the 3 M’s. They are incredibly useful in analyzing the key performance indicators of a professional renovation business.
Under-the-table residential construction worth $12-billion a year: StatsCan
by Steve PayneResidential construction is 28.3 per cent of the total $42.4-billion underground economy in Canada
The Top 3 accounting methods and the lies they tell to contractors
by Victoria DowningShould you run your contracting firm on the Cash Method, the Billings Accrual Method or the Completed Jobs Accrual Method? Take 4 minutes to read this, and you will probably know.
“Why does a contractor need a deposit at all?”
by Steve Payne“Perhaps the business owner is not managing the cash well enough. If the business can’t manage cash, will the contractor be able to manage the tasks, the timelines along with the sub trades?”
39 per cent of Salary Survey contractors expect a better year in 2015
by Steve PayneThat’s an almost “glass half full” situation. But you are slightly more optimistic, overall, than you were at this time last year.
14 per cent of our Salary Survey contractors earned six figures last year
by Steve PayneIt’s not quite the 80-20 rule, which would say that 20 per cent of the contractors make 80 per cent of the money. But it’s close.
“Mike Holmes’ comment about no good contractor needing more than a 10 per cent deposit hurts our industry.”
by Steve PayneDave Anderchek, JABA Construction, Saskatoon, says that, with totally inaccurate comments like this in the national press, it’s “time for Mr. Holmes to leave” our industry.
What are your thoughts on: “No good contractor needs more than 10 per cent to start a job”
by Steve PayneMike Holmes’ has put another one of his memorable re-quotable quotes out to the public. This time that no one should pay more than a 10 per cent down payment on a renovation.
Give us a few numbers on your business – and you could WIN AN iPAD!
by Robert KociIf you take 5 minutes to tell us, anonymously, what you are making – and how – we’ll enter you in a draw to win an iPad
The value-add: Help clients understand ways to finance home renovations
by Brynna LeslieI’m sure you’ve all been there. A client asks about a renovation, you meet to discuss the options and he backs out. Have you ever considered it’s the cost that gets people down? A lot of people are intimidated by…
Protecting cash flow
by Brynna LeslieLearning to manage cash flow is one of the most important things you’ll ever learn as a business owner. Cash flow mismanagement can very likely sink you. And it’s not just a problem for small companies — almost every major…
VIDEO: What contractors earn – Outrank Salary Survey
by Steve PayneAlmost a quarter of all renovation contractors who responded to our survey are making six figures.
Home inspection: a new revenue stream for you?
by Robert KociHome Inspection is a growing industry for which renovators are well suited
What will it take to beat the cash economy?
by Robert KociWith the punitive costs of HST/GST, income, corporate and payroll taxes, workers comp payments and insurance, it seems like there’s an epidemic of contractors working for cash. Can you compete with them? Or should you join them?
Getting paid
by Steve PayneAs a contractor, you work way, way too hard to let yourself get stiffed for money you have fairly earned. A primer on the ins and outs of collecting what you’re due.