Approved Education

Nine Numbers Every Contractor Needs to Know to Make a Profit

Provider: Hanley Wood Exhibitions - World of Concrete
Discipline: Ethics & Business Practices
Credits: 3

Owning and managing a profitable construction company starts with knowing your numbers, managing your money and having a clear understanding of what it costs to run your business. Reach your financial goals by learning how much profit you should make, return on equity, the right overhead, margin, markup, crew rates, equipment rates, labor burden rate and job costs, accounts receivables, assets and liabilities, cash management, realistic profit goals and achievable sales targets. Knowing and tracking your exact sales volume, material costs, equipment costs, field labor costs, subcontractor costs, overhead expenses, working capital and profit goals are key to making more money. This session will teach you how to read your balance sheet, profit and loss statement, work in progress reports, budgets, accounts receivable aging, cash reports and backlog tracking.

1. Identify and manage the nine numbers every profitable contractor needs to know
2. Calculate the right markup to charge using the “12 Step Formula to Always Make a Profit”
3. Determine your job costs, labor burden, equipment costs, receivables and cash
4. Examine assets, liabilities, equity, return, working capital, income statements, balance sheets, work in progress and completed contracts schedules

For more information or to register please contact Bonnie King at bking@hanleywood.com, 972-536-6416 or visit www.worldofconcrete.com.

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