Levelset

MARCH 12, 2025

Contractors operate with low profit margins as it is, so absorbing the increased cost of materials and labor is usually not an option. And with intense competition for projects, contractors who attempt to cover potential cost increases in their price may find themselves losing bids. Thats not necessarily a bad thing.

Risk 40

Risk Lien Construction Contract 40

Construction Business Owner

AUGUST 18, 2011

Accounting & Finance. And that seemed to strike a chord with some of you, so I figured I’d talk more about government jobs, and what you need to be prepared to bid on them. This substantially increases your ability to get bonded and opens the door to bidding on prevailing wage jobs. MANAGEMENT |. ACCOUNTING |. SOFTWARE |.

Cash Flow 168

Cash Flow Software Software Accounting 168

Construction Business Owner

JANUARY 5, 2012

Accounting & Finance. Evaluate Bidding Strategy. There are fewer projects to bid and what projects are available are being bid by more people. Consequently, the bidding climate is very competitive with some work going to people bidding below cost. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

Construction 120

Construction Bidding Software Software 120

Building Radar

NOVEMBER 5, 2024

According to Corporate Finance Institute , first movers can secure customer loyalty, establish brand recognition, and even set industry standards. The Importance of Timing in Construction Sales Timing is critical in construction sales, where early engagement can significantly impact the outcome of a project bid.

Security 52

Security Construction Contract Innovation 52

Construction Business Owner

APRIL 2, 2011

Accounting & Finance. « Free Webinar on Reducing Profit Fade. For those of you contractors doing government work: relish the competition involved with bidding. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management.

Construction 159

Construction Software Software Accounting 159

Contractor Bookkeeping

JULY 9, 2019

Estimating and submitting bids are one of the most stressful and nerve-wracking sides of your construction business. With poor bookkeeping, misguided judgment, and clerical errors come bad decisions on what projects to bid and not to bid on until eventually, you'll run out of time and money.

Bidding 51

Bidding Contractors Profitability Accounting 51

Autodesk Construction Cloud

FEBRUARY 25, 2022

Extracting key ratios from financial statements and safety metrics from OSHA filings allows builders to gauge a subcontractor’s short-term and long-term health — and empower estimators with the data they need to make more informed bidding decisions. . It can be used to determine the proportion of a company’s assets that are financed by debt.

Safety 94

Safety Debt Liability Equity 94

Construction Business Owner

OCTOBER 14, 2011

Accounting & Finance. But I have been surprised at the number of contractors who tell me that they have bid for jobs at break-even or at a loss. Change orders can be harder to manage – and present more of a profitability challenge – than pre-planned project work. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |.

Change Orders 120

Change Orders Construction Software Software 120

Construction Business Owner

JANUARY 5, 2012

Accounting & Finance. It’s often easy to bid on a job, start work, and miscalculate how far along in the project you are versus the amount of money you’ve spent. This year, I encourage you to close the gap between your bids, your projections, and the actual cost of the project. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. foundation.

Construction 120

Construction Software Software Accounting 120

Levelset

MARCH 29, 2022

Rising costs during a construction project affect not only the project’s profitability — they affect a contractor’s ability to survive. Contractors must manage costs while staying competitive with other contractors bidding for the same work. An increase in any of the construction inputs can eat into a contractor’s profit.

Deals 98

Deals Contractors Cash Flow Construction 98

Contractor Bookkeeping

AUGUST 11, 2014

The banker said his Profit & Loss, Balance Sheet did not look right to him. His banker was a blunt and told him that if he wanted to stay in the construction business he needed to have accurate Profit & Loss, Balance Sheet and Job Costing Reports. QuickBooks Job Profitability Reports. He had to rely on his gut feeling.

Profitability 48

Profitability Contractors Accounting Income 48

Contractor Bookkeeping

NOVEMBER 3, 2012

You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right! The most common situation is when a residential remodel contractor who has built a reputation and a substantial company generating profits of 15% or more decides to start building custom homes.

Profitability 49

Profitability Bankruptcy Contractors Remodeling 49

Autodesk Construction Cloud

SEPTEMBER 1, 2022

Knowing which contract to use when is critical to ensuring a successful outcome in delivery, customer satisfaction, and profit. Knowing which general construction contract to use and when to use one is vital to a successful project, your customers’ satisfaction, and your profits. Plus, you know you’ll incur a profit.

Contract 98

Contract Maine Construction Agreement 98

Construction Business Owner

JANUARY 12, 2012

Accounting & Finance. The Expensive Process of Bidding » Save Time, Resources – File Electronically. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.

Construction 136

Construction Software Software Accounting 136

Autodesk Construction Cloud

FEBRUARY 7, 2022

To generate profits in an industry known for razor-thin margins, firms need to maintain control over cost and schedule at every phase of construction. Construction software for bidding, estimating, budgets, and accounting. Bidding software. Stakeholders invested in a project want to ensure that it generates a profit.

Software 95

Software Software Construction Bidding 95

Autodesk Construction Cloud

JUNE 24, 2022

In an industry with razor-thin margins, incorrect estimates can lead to a major hit in profitability and wreak havoc on your company’s finances. The right solution will not only help you come up with accurate estimates, but it will also speed up the process, reduce stress, and enable you to produce more compelling bids. .

Estimating 94

Estimating Software Software Construction 94

Levelset

JULY 11, 2022

While most specialty contractors aim to take on jobs with higher profit margins, buying materials upfront can drain the available cash needed to make this happen. Bidding on better jobs necessitates a business model that prioritizes growth and provides the ability to scale quickly. Bid bigger. Use Materials Financing.

Cash Flow 52

Cash Flow Bidding Finance Materials 52

Construction Business Owner

DECEMBER 9, 2011

Accounting & Finance. In fact, project managers should worry about implementing more safe practices because it can affect the way they bid on jobs. Lower insurance costs mean project managers can submit more competitive bids on a job because they are no longer worried about higher employee costs-a win-win all around! SOFTWARE |.

Construction 136

Construction Insurance Software Software 136

Construction Business Owner

FEBRUARY 2, 2012

Accounting & Finance. Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. leadership decisions were relatively easy – who to hire, where to grow, which jobs to bid and how much margin to put on them. MANAGEMENT |. ACCOUNTING |. SOFTWARE |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

NOVEMBER 17, 2011

Accounting & Finance. With the number of companies bidding on each job increasing and the margins getting smaller, it is imperative that you know the true health of you fleet. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management.

Construction 136

Construction Software Software Equipment 136

Wolgast Corporation

JUNE 6, 2024

We could argue that Design-Build is the ultimate method to get the best/lowest price for construction services because the Design-Builder seeks more bids and gets better bid coverage from a larger field of subcontractors than a General Contractor would. While the budget is not exact, it’s in the ballpark.

Design 62

Design Bidding Construction Banking 62

Construction Business Owner

NOVEMBER 3, 2011

Accounting & Finance. In addition to providing critical insight to a bid, tender or proposal, the theoretical “buy-in” to the process from the field manager is invaluable. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management.

Construction 120

Construction Software Software Accounting 120

cnstrctr

JANUARY 4, 2020

The different types of construction projects include: Lump Sum Construction Management (Cost Plus / Guaranteed Maximum Price) Design Build Design Build Finance Maintain. The owner performs a detailed analysis on the bids verifying that the proposals meet the requirements of the project and awards based on that.

Contract 88

Contract Construction Finance Documentation 88

Construction Business Owner

JANUARY 13, 2012

Accounting & Finance. « The Expensive Process of Bidding. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Equipment Management. foundation.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JANUARY 26, 2012

Accounting & Finance. Venture helps you manage your contacts using construction specific criteria, invite potential partners to bid on work, and even prequalify subcontractors, so you create the best team for the job. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Construction Law.

Construction 120

Construction Software Software Documentation 120

Construction Enquirer

JULY 19, 2023

Andrew Davies, chief executive, said that despite inflationary pressures Kier would report revenue and profit in line with expectations in September. He added that Kier had generated better positive operating cash flow for the year and would now report a net cash position of around £60m at the year-end, higher than the £2.9m ”

Debt 47

Debt Cash Flow Profitability Forecasting 47

Autodesk Construction Cloud

JANUARY 19, 2022

To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations. The real problem is that poor cash flow management can be disastrous…impacting your project schedules, profitability, and relationships.

Cash Flow 59

Cash Flow Management Profitability Change Orders 59

Construction Business Owner

APRIL 4, 2011

Accounting & Finance. – will ultimately determine if you are on the bid list or in the negotiating room for the next project. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management. Green Building. Construction Safety.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

APRIL 12, 2012

Accounting & Finance. A prequalification program that tracks vendors certification, will also help you when it’s time to start bidding on projects. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law. People Management. Green Building. foundation.

Construction 120

Construction Certification Green Software 120

ENR Construction

JULY 22, 2012

T he appeal of renting equipment and renting for longer terms is increasing among contractors because of "the uncertainty created by the economic downturn of the last few years and an unwillingness to commit to purchases, given the work situation," says Sidney Sexson, senior vice president at Wells Fargo Equipment Finance, Tempe, Ariz.

Equipment 75

Equipment Contractors Las Vegas FAQ 75

ProcurementExpress.com

FEBRUARY 11, 2019

All these moving pieces mean purchasing teams, finance, and executives need to work closely to keep operations running smoothly—and within the budget. Straight away, procurement, project management, and finance, should meet to discuss project requirements. Profit margins in the construction industry are notoriously tight.

Procurement 63

Procurement Plans Construction Budgeting 63

Contractor Bookkeeping

AUGUST 16, 2013

Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. It is easy to run reports to determine which items are profitable and unprofitable and make adjustments quickly as needed. -. Chart of Accounts Financing Costs. Chart of Accounts Financing Costs.

Work in Progress 60

Work in Progress Accounting Construction Leases 60

Pro Builder

APRIL 19, 2021

The construction industry has gone through an extensive transformation, and technology has completely changed the concept of how to drive more quality, productivity, and profit into projects. Using an intelligent solution allows project managers to base their bids on past project data and actual expenses. 4) Budgeting & Finances.

Software 52

Software Software Contractors Change Orders 52

ProcurementExpress.com

FEBRUARY 11, 2019

All these moving pieces mean purchasing teams, finance, and executives need to work closely to keep operations running smoothly—and within the budget. Straight away, procurement, project management, and finance, should meet to discuss project requirements. Profit margins in the construction industry are notoriously tight.

Procurement 52

Procurement Plans Construction Budgeting 52

Pro Builder

DECEMBER 15, 2021

Ivory knew the big-picture problem was way over the head of one person or company to achieve a widespread, lasting impact; it called for an army to navigate the maze of barriers that hinder entry-level homes from penciling out on a profit and loss report and gaining community support. BamCore: Bamboo As a Lumber Substitute?

Innovation 122

Innovation Utah Housing Products 122

Contractor Bookkeeping

AUGUST 27, 2014

Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. Which QuickBooks Reports Will Help You Increase Sales And Profits? Of course you are!

Contractors 89

Contractors Accounting Work in Progress Profitability 89

Construction Cost Estimating

JANUARY 19, 2015

builder profit, 12.5% builder overhead, which includes the cost of running their business, construction financing costs, and the new home''s marketing and sales costs. For the costly roof and windows and other expensive building material, bid will be high. builder profit, and 12.5% This cost is depending on location only.

Estimating 40

Estimating Housing Overhead Construction 40