Increasing Your Markup
Like many of you, I read industry magazines to keep up on new ideas. Much of what I read is good, but a recent article titled “Strategies for Increasing Your Markup” requires a comment.
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How to Calculate Markup
When I teach a class or webinar, sometimes I wonder if my listeners understand what I’m trying to say. After reading some of the questions that came in during a recent webinar, I realized I missed the mark.
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A Minimum Price
Being profitable doesn’t mean getting rich off your clients.
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Markup Worries
Remember, you’re in business to provide a service and make a profit doing it.
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Adjusting Your Markup Based on the Job
Many contractors use a variable markup or margin to price jobs. They believe that in the construction industry you have to reduce the price to get the job.
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Rounding Up, not Down
When we talk about making money, it's rarely about big chunks of change. One overlooked item that costs money is rounding numbers. For instance, your markup.
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Using a Variable Markup to calculate Construction Job Price
A young lady told me her husband is using a variable markup on jobs. He marks up labor 3 or 3.5 times and materials 1.5 times. He adds 10% to subcontractor quotes …