We want to share a note we received earlier this month from a specialty contractor who owns a custom cabinet shop.
Easy Money? It’s never easy! BUT, this year has been easier than ever before… 14% profit for the last 10 months, up from .7% (yes, POINT 7%) for the previous 10 months. We just started our yearend review, and planning for next year. (A new toy is in the works for me! We’ll have saved enough by next fall to pay for a new (used) truck) That’s not all either, we’re also planning, budgeting a big family vacation next summer.
We increased our advertising budget again, actually we doubled it. I paid google ads $1 per day, and went up to $2 per day, but within a week a new customer called and wanted a shop tour, he’d seen our website. We set it up, and he came, brought house plans, and asked about a quote. We got the job, 79K kitchen remodel in the penthouse suite of a high-rise. Our first meeting was around mid-August, and I’m working on the install now.
The job I told you about in the a previous email, the 140k job, actually went down to 95K. They needed to reduce their cost, so we made a lot of changes. Walnut cabinets were changed to sapele, and many of the bathrooms and closets were changed to maple. They still love us, and have recommended us to several other potential clients. We are setting those cabinets in early Dec.
I told a contractor we worked for about you, because he noticed we raised our prices significantly. Jobs we used to bid around 6-8k were going to 12-14k, because we decided we were going to make money on jobs, not give them away. So, basically we don’t work for him anymore, and he thought he was my bread-and-butter. He actually laughed when I told him my prices were going up, he said I was too high already.
That was 10 months ago, and he called us in Sept to help him with another job- at the new pricing – and after a heart to heart about the state of our businesses, he said he was buying your books on amazon. I’ve forwarded him a few of your newsletters.
My guys work 4 tens now, and they say they are more comfortable, secure feeling with the business. They say I’m less stressful around the shop, and for the most part they’ve stepped up, too. We’ve set 1 guy to fix equipment, and do maintenance, and that has been awesome. I never figured that would change the atmosphere here, but it’s been a great idea.
Just knowing we are making money is wonderful. There’s so much more to update on, but I need to head out on a install. My installer quit (for a job with bennies, different industry) a few weeks ago, and I’ve been picking up the slack…
As he said, it’s never easy, but it is rewarding. His business is on solid ground, and that makes the future more secure for both him and his employees.
Our goal is to help you strengthen your business so you can provide for yourself and your family. Notes like this keep us going. Have a great Thanksgiving.