New Book for Contractors

Sometimes, contractors are good at their trade, but may not know how to run a successful business. For a construction business to beat the odds and survive, the owner needs to know how to price jobs, write contracts, manage crews, work with subcontractors and collect on their work.

 

“Markup& Profit Revisited” helps construction business owners do just that. Michael Stone, a contractor, lecturer and construction consultant, covers the business basics of running a construction company, whether a general or specialty contractor, working in remodeling, new construction or commercial work.

 

This book provides the keys to a profitable business, which is even more challenging in today’s market. In this updated and expanded edition of the top-selling original, Michael discusses how to maintain a stable cash flow, compute a fair owner’s salary and recognize warning signs. When things go bad, it outlines how to deal with unhappy clients and make it through tough times.

 

Stone discusses the differences between markup and margin, and how to use both to calculate the correct sales price. He explains, in simple layman’s language, why the price of construction projects must be based on the cost of the project, when almost every other business can set their prices based on the market. A business needs to be profitable, not competitive.