Your business relies heavily on your reputation. Skillfully completing projects is of the utmost importance. However, there are lots of additional tasks to take care of behind the scenes. If done well, practically no one notices this extra work, but when they’re not appropriately dealt with they cause a frustrating ripple effect. That’s where business tips for contractors come in.
Marketing for contractors only goes so far in building a name. It gets your business out there, but you have to take care of all aspects of the business to keep the machine running smoothly. Here are some areas to consider and some tips to get you started.
Admin Business Tips for Contractors
Office tasks are a necessary part of the job, but most likely an aspect that few contractors relish. Fortunately, there are steps to take to make the office side of things less tedious. To start with, investing in some office software specifically designed for contractors simplifies a lot of processes (such as scheduling, billing, messaging, quotes, etc.).
Once your business is big enough to justify the expense, it’s also important to hire qualified office staff. Be sure to find people whom you trust to take care of admin tasks for you. If you’re going to have dedicated office space away from your home, try to select a location that’s in or near the area(s) you most often work. That way, when you have to head into the office, the trip isn’t overly time-consuming.
Contractor/Manufacturer Relationship
Contractors need supplies. Establishing and maintaining positive relationships with manufacturers is essential to keeping projects on track and customers happy. Another of the top business tips for contractors is to check manufacturer reputation. Look for reviews and ask around to get some idea of who you’re potentially going to work with.
Once you’ve selected your manufacturers, it’s important to be completely transparent about what you expect and what they can expect from you. Be sure to discuss such topics as how and when they require payment, and what shipping times will look like.
Dealing with Vendors
Vendors are another area where there is a delicate balance. Again here, contractors need to be incredibly clear from the beginning of the relationship as to what they require. If vendor quality is not on par with what the customer expects, it reflects poorly on the contractor. The same goes for vendors who don’t meet timelines. While it’s difficult to foresee all issues that can arise, if details are clear-cut from the beginning, everyone starts out on the same page.
Building Permit Process
Everyone hopes for a speedy permit approval, but not everyone gets it. There is a wide range of issues that hold up building permits, but there are steps that contractors can take to help ease the process. One key step is to become very clear on the application process in the area you’re submitting. Having a permit rejected simply because the application process wasn’t perfectly followed is immensely frustrating.
Different areas of the same city can have widely varying rules, so be sure to follow the correct ones to help keep your timeline on track. Speaking of differences from area to area, building codes and zoning varies too, so be very clear on the rules in your area. Check back often, as regulations are often revised. Many jurisdictions post permit checklists online to help with the process.
If you run into more issues than you feel you can handle, there are permit expeditors who can help. While hiring one will cost some money, sometimes it’s worth it to ensure a permit goes through and your timeline isn’t completely thrown off track.
Avoiding Home Equity Loans
Homeowners often need some form of financing to go through with a home improvement job. They sometimes see a lot of appeal in home equity loans as they are paid out in a lump sum, tend to have fixed and lower interest rates than other kinds of loans, and are usually available quickly. That said, the client is borrowing against their home. That’s quite a gamble to take on and one that doesn’t sit well with many contractors. After all, seeing a customer lose a home that they’ve just finished fixing up is a terrible prospect.
Luckily, there are plenty of other home improvement financing options out there. You don’t even need to become an expert in financing options to be able to offer financing to your customers. Partnering with HFS Financial means that your customers are matched with the ideal financing for them, and you get to concentrate on the renovation project.
Financing for Larger Projects
Reality is that many home improvement projects cost more than homeowners estimate. Some owners commit to a project without doing any research and are surprised by the quotes. Others have unexpected circumstances arise along the way. All kinds of expenses come up during a project, and, while contractors try to foresee as much as possible, there are almost always surprises.
Approximately half of home remodel jobs exceed $5,000, which is why offering financing is one of the most important business tips for contractors. The option to finance opens up doors for clients. Sometimes clients even find that they can take on a larger project than they initially planned. In fact, having a financing option is a great perk to highlight when marketing your contracting business.
Align with Financing Experts
You know that you do the best work, but do your potential customers? Dreaming up marketing home improvement business ideas can be tough when there are competitors offering the same services. Offering financing gives you a bit of an edge and also provides the possibility of larger jobs.
Few contractors want to take on financing tasks in addition to your necessary office paperwork. Fortunately, if you partner with HFS Financial you get to offer your customers top-notch financing options. Even better, you don’t have to get involved in the process at all. HFS Financial gets contractor clients funded for their home improvement projects and the process is simple. The application process takes only 60 seconds and can be done for practically any type of home improvement project—indoor or outdoor.
With years of experience in the home improvement and pool lending space, HFS Financial team members are experts at connecting people with the right financing options for them. Get in touch today!