Daniel HonanFounder, Profitable Painter CPA PLLC · I help painting contractors increase profits & cash flow while reducing taxes♦ Bookkeeping ♦ Tax

Painting Contractors: Let’s talk about pricing strategy in the painting industry

Name: Painting Contractors: Let’s talk about pricing strategy in the painting industry
Uploaded: 2023-07-18T15:00:14+00:00
Duration: 36 s
Channel: Daniel Honan
Description: Painting contractors under $250,000 in revenue often underprice themselves and work too much for little profit. The fix: know your labor costs, price…

18 Jul 2023 · 1 min

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Painting contractors under $250,000 in revenue often underprice themselves and work too much for little profit. The fix: know your labor costs, price correctly, and build a sales process that lets you charge what you're worth instead of staying busy and broke.

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making sure your sales process is super strong so that you can command higher prices and be profitable. You're gonna have less people signing up with you, but it's a question of would you rather be really busy and not make any money or be like just kind of busy and make more money? You have higher prices, you're not as crazy busy, sure, maybe, but you're actually being profitable and you're actually earning. Because I see a lot of folks under $250,000 revenue where they're just underpricing themselves like crazy. They're super busy, they're killing themselves, they're not making any money. I don't want to be in that position. So first step, identify that you're in that place if you are. And then second step, take a look at production rates, understanding labor burden, pricing yourself correctly, looking at your sales process to get your, your gross profit where it needs to be.