Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.
Issue link: http://qualifiedremodeler.epubxp.com/i/149260
Years in Business Firm Description 11-20 More than 30 21-30 28% 25% 20% Exterior Contractor 19% 27% Design/Build Remodeler 0-10 29% Full-service Remodeler 25 34% Insurance Restoration 7% Average Kitchen and Bath Specialist eling industry, and those who have survived have changed with it. Consumer buying habits, which have been altered by the availability of Internet-based information, is one change many cite. Another change is a growing awareness of looming labor issues in the industry; an increasing number of remodelers expect to see a shortage of skilled labor in the near future, if they are not already experiencing it. Following are some of the thoughts shared by this year's Top 500: Q: Has the remodeling business changed dramatically over the past several years, or do you feel this is just one more cycle in the series of booms and downturns that characterize the industry? Has the industry changed permanently, at least for the foreseeable future? I think the industry is the same but consumers have changed with the Internet. Each company must have a strong digital voice and identity online or else others will shape your online identity. — Scott Mosby, Mosby Building Arts, St. Louis (No. 85) Although we believe the past several years to be a cycle in a series of booms and downturns, we believe this downturn was much harsher than any our industry has experienced before and has forced the industry to change and grow for the foreseeable future. Other Losses 4% — Trent Ketchum, project consultant, Fulford Home Remodeling, Swansea, Ill. (No. 463) Clients are shopping price more, expecting we should still be happy to have work. — Tom Reilly, Renovations, Your Complete Remodel Resource, Prescott, Ariz. (No. 416) Q: Some remodelers thrived and even grew in what have been called "difficult" times. What's different about these remodelers who have succeeded against the odds? We have consistently grown through the downturn by focusing on "needs" instead of "wants." We have become masters of aging in place and "moisture management," which is the repair and correction of water intrusion. Both of these services are need-based work that are less discretionary purchases. — Scott Mosby, president, Mosby Building Arts, St. Louis (No. 85) The difference between companies that failed and companies that survived and thrived was found in the ability to adapt and change. We found ourselves completing almost twice the number of jobs for the same dollar volume of sales. Revenue Gains/Losses, 2012 over 2011 Years in Location 21-30 33% 8% 11% 24% More than 30 11-20 24 Average 67% 57% Gains 5% This took much adaptation and change in both our sales process and production implementation to make ourselves profitable. — Trent Ketchum, project consultant, Fulford Home Remodeling, Swansea, Ill. (No. 463) Q: What is the one most significant change in the market and/or how you do business? We are deeply entrenched in educating and training both consumers and employees about building science and the physics of highly technical systems in homes. Gone are the days of nailing things together because "that's the way we always did it." — Scott Mosby, Mosby Building Arts, St. Louis (No. 85) Over the past year the BOWA executive team has spent a significant amount of time revamping our road map for future growth. A key component of this plan is hiring several new project leaders over the next few years and empowering them with the tools and proven processes to build a territory. While residential remodeling executives are a natural fit, we have also broadened our search to include those with sales experience in ancillary industries, such as real estate or commercial construction, whom we can support with our in-house remodeling expertise and the necessary back-end functions of accounting and marketing. — Joshua Baker, founder, co-chairman, BOWA, McLean, Va. (No. 34) Today's customer wants to be involved so we involve them and make them our partners. — Peter Ciaraldi, Professional Building Services by PMC, Salem, N.H. (No. 493) 0-10 ForResidentialPros.com QR August 2013 25