What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Profit Drivers Profitably Hauling Rates: Truckers need to make sure they charge enough for their hauling services to cover their costs and make a profit. Their costs include things like loan payments on the truck, insurance, license fees, office rent, and […]
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What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Profit Drivers Repeat Business: Business from existing clients is usually easier than finding new clients. You already know their business and their needs, so you can save time and money on sales and marketing. Plus, if you do a good job,
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What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Profit Drivers Winning New Business: Flooring contractors need to keep their workers busy and their equipment running, so they’re always looking for new jobs. They get most of their new work from general contractors who are building new homes or remodeling
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What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Profit Drivers Strong Project Backlog: Electrical contractors need a backlog of projects to stay busy and keep their staff working. They get this by developing relationships with general contractors and submitting competitive bids. But small business owners who wear multiple hats
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What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Profit Drivers Achieving High Occupancy: Marinas make most of their money by renting out slips and dry storage space to boaters. They need to keep their occupancy rate high to stay profitable. This can be done by offering competitive rates, providing
What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Cash flow variability Campground/RV businesses have unpredictable cash flow, as the length of stay and number of visitors can vary greatly depending on the time of year, weather conditions, and other factors. During peak season, campgrounds can be packed, while they
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What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Cash collection Since many laundromats are coin based (but transitioning out of), make sure your bank is friendly with cash deposits. Funding Investments in Equipment and Amenities Laundromats need to invest in new washers and dryers to stay competitive. Newer machines
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What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Limited resources to collect Most contractors are small businesses or solo operators, so they don’t have a lot of resources to chase down payments. It can take an average of 58 to 66 days to collect payments, and receivables can account
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What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Long lead times to produce Wineries have a lot of money tied up in their inventory because it takes a long time to grow and age wine. New vineyards can take up to three years to produce a harvestable crop, and
What’s in this edition: Public Information to Follow Financial Considerations for your Business Plan Seasonal cash flow Concrete and masonry contractors face a lot of ups and downs in their business, especially in areas with harsh winters or scorching summers. This is because construction activity and the kind of work they do with concrete are
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