Profits are top of mind for most business owners, but especially for restoration contractors. As the industry grows and evolves, new pressures are being placed on restorers. More thorough reporting requirements from carriers, global events, and raising costs are just a few of the many things that could put a dent into your restoration business’ profitability.
Yet as margins get continually squeezed, you might be wondering how you can improve your bottom line. You may not be able to control world events and the rising costs of materials, but you can control your business. Auditing your processes such as reviewing how your team documents a loss and where they store the images, or investigating how your team gathers information and creates reports, could reveal opportunities for efficiencies that in turn could improve your margins.
Even better, did you know that increasing your margins by as little as 3% could be the equivalent of growing your business by 40%? For example, an improved documentation process that relies on technology to create a repeatable, consistent process could save your business time and money just by simplifying reporting and reducing your business’ liability. Learn more by checking out our infographic below to see how small changes to your processes could have a big impact on your bottom line!
Love this infographic? Check out the webinar that inspired it! Watch our Profitability Master Class as restoration expert Kris Rzesnoski explains how you can increase your profits by increasing your margins, justifying your estimates, and reducing costs without compromising on customer service.