Markup & Profit Intensive, Online
A 12-hour intensive online class taught by Michael Stone to strengthen and build your construction business. Michael discusses the issues that cause most contractors to lose money. These are also the topics he deals with most often in his coaching and consulting. Learn the common sense information and get the hands-on support you need to run a financially profitable company, pay yourself a fair salary and take care of your family.
The class is twelve hours of thoughtful analysis and hard work. Whether you’re a general or specialty contractor working in remodeling, new construction or commercial work, this hands-on workshop applies to all construction-related businesses.
Streaming video. A username and password will be set during checkout so you’ll have immediate access. View as often as you want at your convenience; no expiration, no recurring charges. The class is broken into eight 1.5 hour segments. A handout for class notes is available to download.
Michael’s books Markup & Profit Revisited, Profitable Sales, A Contractor’s Guide, and Estimating Construction Profitably can be purchased along with the class at a 40% discount. The discount will be applied in the cart.
After viewing these classes you’ll know how to:
- Create more accurate estimates in less time
- Compute your correct markup and gross margins and use that information to sell profitable jobs, hire new employees and purchase new equipment and vehicles
- Calculate your breakeven
- Set your own salary and get paid every two weeks
- Review and refine your Profit and Loss statements
- Set up a simple system for job costing
- Write a solid contract that protects both you and your client.
- Write change work orders, know when to write them and how to charge for them
- Write and work with punch lists, making sure you only have one per job
- Work with formulas designed to give you the information you need to guarantee a financially profitable company
- Complete a year-end review and build a plan for each coming year to make it even better
“It was a pleasure to take your class, eye opening and informative. It did not escape me that veteran contractors and repeat attendees were in the audience with us. To reach new entrants as well as those well entrenched in the market speaks highly for the quality and usefulness of your service.”
- The company
- Types of estimates/parts of an estimate
- Tools for estimating
- Forms for estimating
- Areas of caution for estimating
- Estimating labor – subs – suppliers
- Doing the bathroom take-off
- Assembling the bathroom estimate
- Setting up the estimate sheet
- Checklists & allowance amounts
- Errors in estimating
- Selections & compensating for difficulty
- Calculating your error factor
- Setting the sales price for the bathroom
- Travel time
- Finalize the estimate
- Estimating software
- Reasons for failure in construction
- Setting profit and overhead percentages
- Calculating your markup & gross margin
- Adjusting markups, and incorrect formulas for markup or margin
- Purchasing & hiring using gross margin
- Attracting good people to your company
- Review of basic P&L statements
- Setting up a job costing system
- Forms & reports
- Checking jobs in progress
- Final review of job numbers
- Job costing software
- Contracts and payment schedules
- Right of Rescission and allowance amounts
- Change work orders and pricing
- “Bubba Said” and punch lists
- Demo and Discovery agreement
- Q&A from Session 6 on contracts
- Spending collected tax money
- Cost Plus, Time & Material agreements
- Contract writing software
- Employee & subcontractor manuals
- Purchasing insurance
- Steps of a sales call
- Sales goals
- Cash flow problems
- OCRA & owner’s wage or salary
- Owner’s wage or salary
- Know your financial needs
- Job cycle
- Average job size
- Sales-to-leads ratio
- Best place to advertise
- Cost of a lead
- Marketing expense ratio
- Total advertising expense
- Lead generating companies
Online class, October, 2020
This is the exact info that is necessary to running a construction company! I’ve had Michael’s physical book but as I tried to run my numbers into the equations I kept getting hung up. (Even with an audiobook copy as well). This hit on EVERYTHING that we’ve been trying to learn and figure out. I keep saying the internet is like using a magnifying glass to find something on the highway, not only are things impossible to find but your likely to get broadsided doing it – This class is like a telescope that lets you look into the sky and see the stars. Really gets your hands out of the mud and your head into the clouds of running your business. THANK YOU SO MUCH!
From Jim, online class, April, 2020
Time very well spent. . . . Thank you very much and I am so blessed to have come across your site. This is the best and most practical information I’ve found and no longer feel like I’m working in the dark.
From an attendee online, April 2020
I am a repeat attendee and have gained so much each time I go to one of your classes. I think your first Mark up and Profit book hadn’t been out too long when I took the first class, saw you once at a JLC Live a couple years ago here in Portland and now this one. From the first class you helped me to survive and now with this one I am hoping to prosper. For me personally, I do at times need the boot in the rear to wise me up and to that end I thank you.
From Tami, Woodland/Sacramento Class, April 2019
I just wanted to write a thank you note again. The class I attended in Woodland, CA in March this year has changed the trajectory of our company forever! We are no longer begging for business and we are qualifying the customers to decide if we want to work with them! By developing a full contract for every job and outlining our payment structures upfront with customers, the expectations are agreed to before any project starts! The professionalism we now present to customers only increases our validity as a trustworthy and successful company that customers want to work with.
The cash flow has increased such that we aren’t watching such huge fluctuations in the account, and weekly payroll is not a stress any more. Our suppliers are also happier, now that they’re paid in a more timely manner.
Lastly, I actually understand my company’s P&L statement, and the numbers mean something to me. I can watch the numbers on a monthly basis to help determine the next moves our company is going to make.
Thank you again for sharing your knowledge.
From Brandon, Atlanta class, Fall 2018
Devon, thank you and Michael for the immense value you brought to the group last week. We are fortunate to have the basic structural elements in place to implement the vast majority of the CP&R recommendations, but our time together really highlighted a very long list of small but high impact business development projects for us to get busy on!
From Tina, Atlanta class, Fall 2018
This was one of the best values and classes I’ve attended. This is just what our industry needs to help new contractors just getting a construction business started or those who already have a seasoned business.
From Steve, Denver class, Spring 2018
Thank you for the seminar last week. This class is so helpful in getting me back on track to focus on my business instead of just staying busy in it.
From Kelly, Denver class, Spring 2018
The course content is fantastic and only wished I had this course 14 years ago. This was a great reminder of those things I have already learned. But, it’s a necessary refresher… especially reviewed away from my office. And I learned many new things, too, like marketing ideas, additional contract considerations, and better estimating practices. Good to “sharpen the saw”!
From Chris, Portland class, Winter 2018
I want to thank you for all you have done for my family and I. After spending one year working with the both of you and the rest of your team, the class made perfect sense to me and Michael’s off-slide tangents were very very valuable! I’ve been reviewing everything with the business and it all makes sense now, what a relief, now I know what to do and make certain corrections.
I’m looking forward to the next conversation, all with good news.
From Jeff, Portland class, Winter 2018
I just wanted to say ‘Thank you’ for the outstanding two day seminar I just attended. A lot of new information to absorb. I know without any doubt that this will change the way I estimate, bid and complete projects.
Being a specialty contractor focusing on primarily commercial concrete I was still able to have so many ‘what the hell have I been doing’ moments it’s almost embarrassing to admit to myself how much money I’ve left on the table for all these years.
From Maria, Cherry Hill class, Fall 2017
Thank you to you and Michael. It was a great pleasure meeting him. I have been waiting for him to come our way and as soon as I saw Cherry Hill NJ, I didn’t hesitate to register. As the saying goes ‘if I knew then what I know now’ I would have read both books and attended this most valuable training class 11 years ago before I started my business. This training should be taught in college for anyone considering a career in construction.
Thank you both for sharing your experiences, knowledge and truly helping the little guy.
From Jared, Salt Lake City class, Spring 2017
The next time you see your husband, please give him a hug that doesn’t stop. I thank you both for changing my life, and the life of my family. I am sitting here at my desk (in a shirt and tie) with tears in my eyes, because I am actually making a profit – doing what I love to do. God bless you both! Please let me know about all your 2 day classes anywhere close to Salt Lake City. I’d like to attend again with my son in law.
From Michael, Sacramento class, Spring 2017
Michael was very inspirational. I am taking a closer look on how we have been conducting our business. We will be incorporating some of his means and methods into practice. It was a lot to absorb in just two short days but I am sure it will have a lasting impact, I am very glad I attended.
From Bob, Salt Lake City class, Spring 2017
I would like to give a big thanks to both of you for a great experience at the Salt lake class! I feel that I definitely got my money’s worth! The knowledge and years of experience you teach Michael was worth a whole lot more. I left there pumped and ready to get back to work and apply what I learned.
From Dave, Pittsburgh class, Spring 2017
The two day class in Pittsburgh was great. It is was good to be with other contractors who are striving to be better at we do. Michael’s no nonsense approach and lack of “fluff” is what makes him a great teacher. I have been thinking differently since the class ended.
From Ben, Norfolk class, Spring 2017
Your teaching methods work. After attending the Norfolk class, I bid a renovation with a 1.5 and got the job. The owners said it was much more than they expected but then proceeded to double the scope of the work for a future contract. They asked me if the price would go down with additional work and I said absolutely not. Left with a nice deposit and a smile on my face.
From Ernie, Pittsburgh class, Spring 2017
This class was the best investment I have made in my business to date. The information that we covered, as well as the one on one attention that he provided to us and our questions was invaluable. Reading the books has been great, but reviewing and hearing this stuff directly from the Man him self, was incredible.
I also really appreciated hearing from the diverse group of business owners that were present in the class, their perspectives on similar issues as well as the very valid questions and comments they provided to the discussion. The conversations that i had with other like minded business owners facing similar challenges with their own business offered me great perspective and insight into the challenges that we all face at some point.
In closing, I just want to say how helpful and educational this experience was for me and I would really like to convey to anyone who is considering this class how great of an investment it has been. Definitely the best investment I have made in my business to this date.
From Stuart, Portland class, Fall 2016
It was a pleasure to take your class, eye opening and informative. It did not escape me that veteran contractors and repeat attendees were in the audience with us. To reach new entrants as well as those well entrenched in the market speaks highly for the quality and usefulness of your service.
From Mike, Seattle class, Fall 2016
Thanks again for the class, it was a game changer for us. Biggest net profits we’ve ever had came as a result of your class.
From Marc, Tampa class, Fall 2016
It was a pleasure to spend 2 days with you in Tampa learning some of all you have learned over the years. Invaluable information! I am committed to implementing as many of your ideas that I can remember.
My ultimate goal would be to have a better quality of life (+84 hours a week right now). Thanks for everything!
From Rick, Chicago class, Fall 2016
Just a quick note to say thank you for all the time & energy you offered me in Chicago at the seminar and during our meals together. Your knowledge & desires to help those who are blinded to the correct ways of a profitable contractor is greatly treasured & appreciated.
From Margaret, Chicago class, Fall 2016
We very much enjoyed our two days with Michael and are already implementing some better practices. We are excited to continue to do so and look forward to hearing from you.
From Robert, Denver class, Fall 2016
I think of all the people I have spoken to over the years that he would be someone I would actually be able to hear. I have noticed that most can talk for hours and really say nothing. Michael gave me the feeling, especially after his class, that there was some real meat on the bone this time.
I asked some key questions when we went to the Italian restaurant in Denver to get a real feel for who I was going to hear again the following day. The first day was insightful, to say the least. I wanted to make sure the second day wasn’t just what a sales pitch was for. I WAS IMPRESSED.
From Jimmy, Baltimore class, April 2016
I received your postcard the other day. Thanks for checking in on me. Since I came to your seminar in April 2016, I have sold over $550,000 worth of construction work in addition to my architectural design projects!
From Zoe, Seattle class, Fall 2016
My husband came to your seminar in Seattle this past week and got so much wonderful information from you. Actually he was pretty exhausted after the meetings because his brain was working so hard 🙂
We desperately needed to feel that we had a community and were looking for support and great advice on how to grow and change our business so it became a profitable entity, not just getting by. I can’t wait to change everything around and make the business work better for our clients and us.
From Dayna, Rochester class, Spring 2016
My husband Chris and I enjoyed the class immensely. It was well-worth the investment, and we are excited to start applying all that we’ve learned.
Thank you for organizing and planning such a great event. We hope you’ll have another workshop in or near Rochester soon!
From Joseph, Indianapolis class, Spring 2016
The class was well ran and very organized. You can tell that Michael has a military back ground, as everything was on time and detailed to the minute . . . Thanks again to you for all your work in the back ground that nobody really sees and thanks to Michael for being there to offer the class for us. Looking forward to the future and our new beginnings.
From Rod, Phoenix class, Spring 2016
Michael, I wanted to send a note of appreciation for the necessary tools you taught us in your class last week. I’ve attached my markup and breakeven numbers that without your class would have known about. Looking at them for 2016 I know I need to do a few things differently . . . This week I plan to implement the rest of your formulas and run my business instead of my business running me. I am absolutely positive that without your class I would not succeed in this business. I certainly appreciate you sharing your wealth of information with us so we actually have a fighting chance to succeed.
From Tyler, Phoenix class, Spring 2016
I want to thank both you and Michael for the work you are doing and the knowledge of the construction business you have been so willing to share. It will truly transform the way I look at my business and how I perform my work.
From Jerry, Indianapolis class, Spring 2016
I am writing to thank your for your class held in Indianapolis this past March 2nd & 3rd. I learned quite a bit and I just wanted you to know that just a few hours ago I closed my very first design agreement and walked away with a nice deposit and in all likelihood a $140,000 to $150,000 project once I close this deal out. Just so you understand I usually have two types of jobs: Small jobs and big jobs. A big job to me has been anything $10,000 and up but thanks to you and your training I have to adjust to a whole new way of thinking.
- I followed your steps from the four questions almost right at the start of the conversations.
- I asked questions just like you said in the book.
- I spent time talking to her and asking so many questions that I impressed myself.
- Last but not least, I said in order for us to move forward to design this wonderful project we conceptualized I would need for her to sign my design agreement. You should know that at this point I didn’t even do any measuring or take any photos, I was fully prepared to walk away had she not agreed to my terms (just as you said).
Never would I thought that I would be working on a project this large that I would call my own, to date the largest project I ever had was for $48,000 and the profit was nothing to write home about especially for the risk I took. From here forward I will consider myself a Design Build Contractor and I have you along with the Gang of 8 to thank for the courage to step out of my comfort zone. Not a bad return on my $495.00 investment!!!
From Kyle, Atlanta class, Spring 2016
Thank you for a great class. We had our first weekly meeting Thursday and I have complete buy in from my partner and office assistant on capturing our job site data more accurately and consistently than ever before. I wrote “10%” on our whiteboard as our goal to point to at each subsequent meeting.
From Keith, Kansas City class, Spring 2016
I wanted to take a moment and thank you for your time this weekend. It was very informative. I really appreciate your heart and desire to honestly help the contractor build a successful business. I am sitting down this morning and figuring out my true overhead, and working on some estimates.
From Stuart, Atlanta class, Spring 2016
We just finished an exceptional two days with Michael. Your program and his teaching techniques are second to none. Our company has an enormous amount of process adjustments to make. We are thankful for folks like yourselves for the education you provide in this industry.
From Jason, Atlanta class, Spring 2016
I attended the 2-Day Class in Atlanta this week and I just wanted to let you know how great of a job you did with the food! . . . I really enjoyed the class and learned tons of great information from Mr. Stone that will definitely help me in my business. . . . Thanks for all you guys do for educating our construction industry!
From Nathan, Portland class, Fall 2015
Thanks for the great seminar. So much inspiration from so little time. Can’t beat it.
From John, Charlotte class, Fall 2015
I am doing a better job on the 4 questions with clients. Just landed my first $40,000 job today with the 4 question rule and design fee rule so great to see it falling into place. I am going to use the same approach tomorrow on a garage/inlaw appointment tomorrow and the same on Friday night on a large outdoor living appointment…so keep your fingers crossed for me!!
From Cesar, Dallas class, Fall 2015
Thank you so much for everything! Think this is one of the best class I have ever attended in all my experience working and looking for the answers we all contractors have. Its Monday now and I came into the office ready to make the needed changes to set foot in the right direction.
From Eric, Minneapolis class, Fall 2015
Thanks so much for letting us borrow Michael for a couple of days. Ruth and I’s heads were about ready to explode by the time we finished on Friday.
From Joseph, Dallas class, Fall 2015
Thank you both so much for your time and energy during our Dallas class. I can tell you from my discussions with the other contractors that they all are very thankful they attended your class. In fact, I don’t recall having ever attended any continuing education class that generated as much enthusiastic & positive discussion outside of the class itself!
I cannot thank you enough for sharing your great knowledge with us. You’ve forever changed the way I’ll run my business and support my family!
From Steve, Dallas class, Fall 2015
I wanted to send you a short note and tell you thank you for hosting your 2 day seminar series. I was fortunate enough to be able to attend and meet you at the Dallas event. The reason for this follow up is to thank you for reaffirming a lot of things I’ve known but seem to talk myself out of; primarily, holding to my markup.
The week after returning from Dallas I submitted a bid for by far my largest project ever at $390,000 for a wedding venue. I still wanted to cut my markup but instead used your estimate sheet and put in for my full markup and even added 3-5% across the board for error and difficulty factors. After several revisions since then I am now signing them up for over $463,000, still at full markup. I really didn’t believe that these projects even existed but I don’t think it was a coincidence that this fell in my lap immediately after our meeting. I’m realizing that you can, and always should, have confidence in your numbers and you will end up selling fewer jobs at a higher profit.
From Tim, Minneapolis class, Fall 2015
“I ran across your Markup & Profit book a little less than a year ago. I was looking for a solution to a specific problem that I no longer recall (to which your book had an answer that worked like magic). Because my problem was solved, I read the rest of the book. I must admit that I was a bit skeptical about whether or not some of the methods would work. It’s scary to take a close look at the workings of the business you’ve created and come to terms with the fact that your creation is not built for the long haul. You want me to charge what?!?
Turns out my situation was pretty common. Started my business from scratch. Worked hard. Put in long hours. Managed somehow to stay afloat for 15 years. Spent evenings writing estimates after a 12-14 hour day in the field. Cash flow was a constant struggle and often on my mind, but brought home enough to get by.
I read the Markup & Profit book last December, studied and personalized the forms and tweaked your Employee Manual for my business in January and began to implement the methods described in the book in February. By the end of June the business passed last year’s total sales. We will finish up this year at about double last year’s sales. What’s even better is that profit is running almost triple.
Cash flow is no longer a problem. All the bills are paid (early). My evenings now belong to my family instead of to the business. We now have the time and money to do things together as a family, which makes life run a whole lot more smoothly.
I attended the two day class in Minneapolis so I could get answers to a few specific questions and keep myself focused so I continue to implement the program and so I understand more clearly how the methods dovetail. You delivered big time!
I urged my brother, who has a similar business, to come along. He reluctantly accepted. Before I got home he had sent a text thanking me for a couple things “… but mostly for talking me into going”.
So thank you for helping me create a well oiled machine, for teaching me how to make the living I deserve while continuing to deal with homeowners in an honest way, for boosting my sales, for increasing my profit dramatically, for lowering my stress level, for giving me back to my family.
What you do affects many lives, far beyond those who read your books and attend your seminars. From one of those people whose life has been made better, thank you. Thank you very much.”
Video Reviews (9)
Previous two-day class dates and locations:
Dec, 2020 — Online
Oct, 2020 — Online
Apr, 2020 — Online
Oct, 2019 — Portland, OR
May, 2019 — Austin, TX
May, 2019 — Niagara Falls, NY
Apr, 2019 — Bloomingdale (Chicago), IL
Apr, 2019 — Sacramento, CA
Mar, 2019 — Charleston, SC
Jan, 2019 — Ft Lauderdale, FL
Nov, 2018 — Ontario, CA
Oct, 2018 — Minneapolis, MN
Oct, 2018 — Atlanta, GA
Sep, 2018 — Chantilly, VA
Sep, 2018 — Portland, OR
May, 2018 — White Plains, NY
May, 2018 — Memphis, TN
Apr, 2018 — Milwaukee, WI
Mar, 2018 — Denver, CO
Feb, 2018 — Portland, OR
Feb, 2018 — Raleigh, NC
Nov, 2017 — Houston, TX
Nov, 2017 — Omaha, NE
Oct, 2017 — Cherry Hill, NJ (Philadelphia)
Oct, 2017 — Detroit, MI
Sep, 2017 — Lafayette, IN
Sep, 2017 — Anaheim, CA
May, 2017 — Sacramento, CA
May, 2017 — Salt Lake City, UT
Apr, 2017 — Pittsburgh, PA
Apr, 2017 — St. Louis, MO
Mar, 2017 — Norfolk, VA
Feb, 2017 — Ontario, CA
Nov, 2016 — Tampa, FL
Nov, 2016 — Chicago, IL
Oct, 2016 — Santa Fe, NM
Oct, 2016 — Denver, CO
Sep, 2016 — Boston, MA
Sep, 2016 — Seattle, WA
Sep, 2016 — Portland, OR
Apr, 2016 — Rochester, NY
Apr, 2016 — Baltimore, MD
Mar, 2016 — Kansas City, MO
Mar, 2016 — Atlanta, GA
Mar, 2016 — Phoenix, AZ
Mar, 2016 — Indianapolis, IN
Jan, 2016 — San Diego, CA
Jan, 2016 — Oakland, CA
Dec, 2015 — Dallas, TX
Nov, 2015 — Portland, OR
Oct, 2015 — Las Vegas, NV
Oct, 2015 — Bloomington, MN (Minneapolis)
Sep, 2015 — Charlotte, NC
Sep, 2015 — Roanoke, VA
Apr, 2015 — Worthington, OH (Columbus)
Mar, 2015 — Santa Ana, CA
Nov, 2014 — Elmsford, NY