How To Make More Money As A Contractor

As a contractor, making more money and selling more jobs requires a combination of factors. One of the most important aspects of financial success in the contracting industry is licensing and branding. If you are working without a license, you are severely limiting your potential as a contractor. In Florida, Home Love Construction offers a franchise program to help contractors increase their credibility and work under a license and brand. By working under a licensed and well-established brand, contractors can sell their services at a higher value.

Why Buyers Prefer Branded Services

Buyers prefer to purchase services from brands because it gives them a sense of security and reliability. For example, if there is a 50% chance that a light will turn on versus a 100% chance that another light will turn on, even if the 50% chance light is half the cost, the buyer will still choose the light with a 100% chance of turning on. The same concept applies to contracting services. When someone needs their bathroom redone, they want to minimize the risk of it being done poorly. They understand that if they pay a cheaper contractor to redo their bathroom and it turns out badly, they will still have to pay a higher price to have it redone correctly.

Two Options for Contractors: Join an Existing Brand or Build Your Own

Contractors have two options when it comes to licensing and branding: join an existing brand or build their own. Home Love Construction offers a franchise program that helps contractors work under their license and brand. Alternatively, contractors can work on building their own brand, but it takes time, exposure, and effort. Building a brand from scratch requires a lot of effort and pushing your services into the market.

Valuing Your Time

Another important factor in making more money as a contractor is valuing your time. You must charge for your time in everything that you do. If you offer to pick up tiles for a client without charging for your time, you are devaluing your own time. You should build all of the tasks that you need to perform into your cost for doing the job. Over time, you will learn what you should have charged for, and you should write it down and put a process in place to ensure that you are not missing anything that you should be charged for.

The Home Love Construction Franchise Checklist

The Home Love Construction franchise program includes a 500-point checklist that contractors must use on every project. The checklist ensures that contractors are not missing anything that they should be charging for. The checklist increases every month, as the company adds new items that contractors should be charging for. By following this checklist, contractors can make sure that they are not giving anything away for free and that they are maximizing their potential to make money.

Charging for Every Service

Just like Amazon, nothing should be for free in the contracting business. Amazon does not even offer free shipping, and contractors should not offer anything for free to their clients. By not giving away anything for free, you can ensure that you are maximizing your potential to make money. Clients do not want anything for free, so you should not be giving them anything for free. This is how you make money in the contracting business.

Incorporating Marketing and Sales Strategies

In addition to licensing and branding and valuing your time, contractors must also incorporate marketing and sales strategies. Contractors must promote their services to attract new clients and retain existing ones. This can be done through a variety of marketing channels, such as social media, search engine optimization, and advertising. Additionally, contractors must have effective sales strategies in place to close deals and make sure that they are selling as many jobs as possible.