Key Steps for Hitting 20% Net Profit With Your Home Improvement Business | Megan Curry

Nov 27, 2023

Ask episode

Chapters

Transcript

Episode notes

EPISODE 198: What does it take to be a truly profitable business in our industry?

Yes, you can close a lot of sales, up to millions of dollars a year, but that doesn’t always mean that your profitability will be great (or even exist in the first place).

To discuss this in more depth, I’ve invited an expert on profitability to this week’s episode of The Wealthy Contractor.

Her name is Megan Curry and she is the director of operations in her family-owned business, a home improvement remodeling company called Revelare Kitchens.

With two main offices serving eleven states, Revelare Kitchens has created one of the most profitable contractor businesses in the country.

And this is all thanks to their profitability business model.

In this episode, Megan will be discussing the levers that create profit for businesses in our industry, the importance of engineering your profit, why your P&L matters more than you think, what is preventing you from achieving the money you deserve, and more.

Ready to learn more?

Let’s dive in!

Key Takeaways:

Introduction (00:00)

Meet Megan (01:09)

Let’s talk profitability (06:51)

What is preventing you from boosting your profits? (09:23)

Gross margin overview (12:42)

How to improve your P&L (19:31)

How to start engineering your profit (27:30)

Additional Resources:

🔥 Use code “WEALTHY24” to get $100 off on your ticket to Accelerate LIVE:

https://www.accelerateevent.com/

⚡ Learn more about us: https://www.TheWealthyContractor.com/

⚡ Brian’s book, The 7 Secrets To Becoming A Wealthy Contractor, is now available. Visit https://www.TheWealthyContractor.com/ for a free copy (just pay shipping).

⚡ Follow us on social media:

Facebook: https://www.facebook.com/TheWealthyContractor

Instagram: https://www.instagram.com/TheWealthyContractor/

LinkedIn: https://www.linkedin.com/company/TheWealthyContractor/

The Wealthy Contractor is a podcast for home improvement professionals who want to grow their business, work less, and make more money. Follow us for more!