Smart guy. Even accountants don’t explain it this well. That’s the difference between someone that has his own business and someone who talks from books.
@tylerdrippon13262 жыл бұрын
I argee
@renreeder780210 ай бұрын
Loving your channel! Thank you thank you thank you!
@Sonali-n8v10 ай бұрын
Bhai i wanna start construction buisness, will you be my construction partner
@elizabethhartman39245 жыл бұрын
I love this video!! I came into this construction business by accident. My goal was to buy and sell homes. But due to positivity and kindness top notch people hire my crew (I have a 3 man crew. They're only Journey Men) I have not quit my day job (I work in the medical field). But with the money I've made with the construction (I make quadruple now). It was truly a blessing. Just by treating people with kindess, positivity, and letting them know they're going to be well tooken care of, they're happy.😊
@shalajones86524 жыл бұрын
lets splip the profit
@elizabethhartman39244 жыл бұрын
@@shalajones8652 through this covid·19 epidemic the construction business hasn't been good lately, but working in the medical field still and with positivity, letting my patients know they're going to be well tooken care of, they're happy. Stay safe, stay healthy, God Bless🙏
@burak98574 жыл бұрын
@@elizabethhartman3924 I'd love to hear more about your story? I've been so attracted to renovation/home improvement lately but have a completely different formal background (info systems)
@elizabethhartman39244 жыл бұрын
@@burak9857 my story is definitely interesting, but it's what's coming at me I'm wanting to follow through. A man asked me the other day (good, secure man) if I know about ground-up apartment construction (wants me to be on his team). It's a 9M construction project. I wish I could tell him yes, I'm asking this "construction fight" guy for some guidance, but nothing yet... *waits*
@yanecaro8312 жыл бұрын
😂God doesn't do accidents
@bigj63916 жыл бұрын
I own an electrical contracting company. Been in business just over a year. Your videos are spot on and I am learning a lot from them. Thank you!
@smarteventtv2324 жыл бұрын
same big j, with three month experience now
@tambosnipes16523 жыл бұрын
Hiws it going
@jaredpoling7097 Жыл бұрын
I’m starting a Residential Electric company and I’m really excited. . Been in the trade 15 years . Do you have any advice Big J ? How’s your time as a business owner payed off or vice Versa ? Super interested in what you have to say and hope to hear from you. Great video by the way.
@bigj6391 Жыл бұрын
@@jaredpoling7097 know your numbers, take care of people, keep your word, work harder than your competition. Stay humble. We just hit 6 years and growing beyond anything I ever imagined. Good luck my friend
@yas193 Жыл бұрын
The wife of new businessmen wanted to be as supportive, and your videos are easy to understand and are great motivation
@ronnie82723 жыл бұрын
Tom you have helped me and my landscaping company so much. Much thanks to you and the valuable content you provide. Im 21 with a landscaping company going into our 2nd year in business this year. Tom your the man! Thank you brother!
@contractorfighttv3 жыл бұрын
Glad to help Ronnie. Thanks for watching man.
@stoicllc23523 жыл бұрын
Here is the number one thing I learning from when I was in corporate banking. Hold capital. Build up a reserve of cash that will cover your overhead for at least a year. You can not rely on debt for this. Work to include pay roll in to that reserve before paying yourself if you can
@Sandrinhaamarques8 ай бұрын
I’m so glad that I found your channel! Thank you so much for sharing your experience and knowledge! 🙏🏼. I had a cleaning business before I can see now that I made a lot mistakes in how to charge customers for the service. But lesson learned! I’m starting a new business doing something else and I will make sure to apply every little bit of what you teach us here!.
@carterselectric6 жыл бұрын
T& M note -charge service fee for showing up . Drive time service truck slash coordination and dead time for less than 8 hrs of work creates higher overhead or non productive time . You can charge a half of service fee per 8 hours of work for larger jobs that are several days, on their project or per trip if it is a require trip . For example you need to do rough and finish stages of a job after other trades or what ever . Requires another trip scheduling and may not be a full days work. Gas loading up or purchasing of materials can take hours sometimes . Keep all that as part of the job hours or service fee. So in short you can use a service fee to charge for all the offsite labor and travel time. This way the customer can not argue you were only here for four hours why is it 8 or 6 or five hours . It’s just a service fee... so if you have to make multiple trips out cause you are busy with other people’s jobs and your are “filling in at their job...just charge half of a service fee per eight hours of work to be fair to the customer if You can not put in 8 hrs straight in their job. Works for me !
@yessicaaguirre17465 ай бұрын
Great teaching to grow your own business 👍
@benparks66143 жыл бұрын
I learn more in your sessions than the workshops I’ve attended. Thank you for sharing, I appreciate it. Blessings,
@butrabi1105 жыл бұрын
I am from Australia thanks Mate u doing really good I m learning a lot from u I am in construction business from 8 years still learning .
@TorchedTv4 жыл бұрын
I own and operate two small businesses, one of them is a contracting service in Hawaii. Rule number one: don’t think about starting a company for too long, if you have a great service idea, just get it started...people who think to much about a business idea often never start it. And start charging what you feel is fair for you and the customer. 1. Decide why you want to start a company A. For the money? B. To build and sell? C. Freedom to be your own boss! D. Yadaaa yadaaa etc...you get the idea. 2. Based on what you want your company to do, you can calculate what the market charges, and what you can. 3. Constantly ask other contractors what they charge, every one you meet, doesn’t matter what field, you want to know what the market charges all around. You’ll get better at pricing with experience. One more good tip is: “don’t over finance your field of work, you definitely want to take advantage of financing and business loans, but don’t take too much for your service.” Only finance what you can guarantee back in one year...so if your net (profit after losses) profit is going to be less then the loan you want then leave it alone. If my business brings in $2.5m per year then I won’t take more then $2.5m worth of loans in that year. Obviously, you don’t have to pay your loans back in one year, but at least you have the money to cover your loans if they default. Good luck Groms!!!
@SamuelGarcia-nd2sh4 жыл бұрын
Thank you for taking your Time and sharing your experience
@perzperez63162 жыл бұрын
Good knowledge, wish more people saw
@Deathmperor3 жыл бұрын
Appreciate all the info I made the jump this year and started my own business only to realize I have a lot to learn everyday
@AmbassadorOG10 ай бұрын
You are a legend, God bless you sir
@jasongriener10044 жыл бұрын
I started my business. And was not getting very much work started watching your videos and doing what you said to do thanks for all your help in the fight
@danielkrech2 жыл бұрын
I wished teachers had this passion and drive.
@mashaserafina19273 жыл бұрын
By chance found you on youtube and am so grateful right now my husband and i are in the midst of taking over his dads tile and stone installation company!
@korereviews80886 жыл бұрын
Totally agree on the hiring angle: have a bottom line, don't cross it. Period. Learned the hard way on this one: hired initially out of desperation, because too much work and hard to find workers in my area. But the price you end up paying, in terms of how much money you LOSE due to having the wrong employee on the job, and the cost to your SANITY, is so not worth it. Honestly, you'd be better off staying home and watching TV than working with the wrong people on your team. It's tough to wait for the right person when it's high season and you're desperate for help, but that patience eventually pays off.
@anthonyesparsen777611 ай бұрын
Yes alot of guys don't know their labor and material cost of jobs , which is very surprising to me
@anthonyesparsen777611 ай бұрын
Very good job at explaining the subject matter well done
@habuchiful4 жыл бұрын
You are awesome and very helpful. I just found ur video by accident and I already watch a bunch of them.
@wespurcell32172 ай бұрын
You shred Tom! Fuck yeah Mondays🎉🎉🎉🎉🎉😅
@Louelectricllc7 ай бұрын
great stuff man ,thanks
@goodstewardecoscapes2 жыл бұрын
Thanks for the video Tom!
@fredhampton3215 жыл бұрын
I'm so glad I found your channel you are the best
@YTnuggets7 Жыл бұрын
you great Men . Hasta la noche ! la cueva ! la bamba ..! 😅 thank you for your videos
@everscaping99213 жыл бұрын
Just started a new business and waiting for my contractor license to be issued... been meaning to get on this overhead budget nailed down... great reminder and great run through! Thanks Tom!
@whitechris7203 жыл бұрын
This actually makes since. Compared to most of the how to bid a job videos. Thanks
@jeffalan63394 жыл бұрын
I am 8n a town that is very cliquish, will only use. I do finish carpentry, interior painting, trim, built-in, door and window remove and replace. The state SBDC labels me as a finisher I install cabinets and anything to finish the interior of house or business . I have 8 referrals in my town all small stuff I do it and take pride in it I have installed shiplap siding in few homes. Help turn an vacant medical clinic into a church. . Just need bigger projects or will only be a hobby
@sunriseeternity300 Жыл бұрын
While hiring Bartenders. I learned to ask math questions. Basic math, but ask it quickly, 3x4, 12x3, etc. I'll ask 3 or 4 math problems quickly without telling them before i start. Why? Because i want to see this person problem solve, and see their composure under unforseen pressure. Can this person think, and problem solve? If yes, then i can work with them and train them as needed. If no. I cant trust that they will be able to handle the pressures of the job, and i cant be there to solve their problems all the time. Composure and Problem solving are my non-nego. Fit the questions to fit the industry. Pressure is the point. #enjoylife #tomereber #construction #projectmanagement
@johnnyluck1283 жыл бұрын
What if you dont have any overhead? I guess i need to get insurance. For 1, but that would be it. I paid cash for all my equip and tools in the last 3 yrs
@radddeweese16964 жыл бұрын
These videos are great! Good info and motivating. I have been remodeling my own homes and doing a lot of wood working projects as side gigs but I want to get into the Remodeling business and these videos help a lot. Thank you!
@HergyTime4 жыл бұрын
Dude you're very helpful! Keep up the great work
@contractorfighttv4 жыл бұрын
Glad to hear it!
@gh21103 жыл бұрын
U guys rock” No! Youuuuu fknnnnnn ROCK! $$$ I thank you, and my family, My employees thanks you...
@gigib24792 жыл бұрын
Great video! Thanks for making it clear and simple
@contractorfighttv2 жыл бұрын
Glad it was helpful Gigi!
@jc_innovative Жыл бұрын
Thanks and god bless you!!! ❤
@samyouelp6 жыл бұрын
Great info brother! I really need to dial in my overhead and figure out my costs better. Too much winging it right now
@s1ok916 жыл бұрын
Exactly what I needed. Thank you!
@luisgarrido10983 жыл бұрын
Knowledge is power. Thanks for the info
@Danny-fs1hk5 жыл бұрын
Damn, this is a great video! Thank you!
@renepenapapi47782 жыл бұрын
Ren here .Got it boss thank u sir.preciate your time boss
@zackberesheim4 жыл бұрын
Earned another subscriber. You break it down super easy. Thanks a ton man!
@gracebonez6 жыл бұрын
Dude. I can totally understand this.
@ronrinear86314 жыл бұрын
Smartest guy on the planet
@solomonsibanda75713 жыл бұрын
thanks tom
@Silly_Sht5 жыл бұрын
You tell it like it is !!! #Motivated
@dustinacton97086 жыл бұрын
Good stuff brother!
@contractorfighttv6 жыл бұрын
Thank you !
@philippm84454 жыл бұрын
Thank you for this!
@contractorfighttv4 жыл бұрын
Glad it was helpful Philipp!
@kylezager2055 Жыл бұрын
listening
@Alsky115 жыл бұрын
Great info, Thank you!!!
@Rooftop16s3 жыл бұрын
Is there a time we can talk more in depth about my roofing and siding company
@toyotatacoma20212 жыл бұрын
love your show give some idea how to handle it the running Company.
@colorado_exterior_specialist5 жыл бұрын
Just found your account, Thanks for all the content!
@contractorfighttv5 жыл бұрын
Thank you for watching.
@WarnickLandMgmt2 жыл бұрын
Hey Tom have you ever made a video on how much to charge for materials or a system on how I can develop a percentage or multiplier? Thanks in Advance your changing the future of my family and i really appreciate you and your team more than you know!
@heltowski92 жыл бұрын
If he really helped your family, i will be glad to meet you!
@PaulChoate-s4v8 ай бұрын
Sales Price = Materials + Labor X Markup. Markup = Gross Sales / Direct Job Costs.
@goldstandardhvac2 жыл бұрын
Wow! a lot of great information first video I watch from your channel Tom, I just recieved my c20 licence for hvac this is really useful. Is this a good method to use as an hvac contractor? What do you recommend as far as what to charge on service calls I yet have to figure out what to charge on a hvac system replacements and not charge the sidejob price anymore. I currently work for another company but will be quitting eventually
@ronrinear86314 жыл бұрын
Thank you for the wealth of knowledge
@jonassal26766 жыл бұрын
I'm about to start my roofing business but I don't know what to charge. I've always worked for someone, I don't know.
@cruzcreation205 жыл бұрын
Call roofers to your house ask for a quote. This is the best way to get price for your area, different areas charge different prices.
@hasdrubalsosamarquez54305 жыл бұрын
New Subscriber! 💪🏼
@andrewmitchell78503 жыл бұрын
It’s time for me to start making some moves. I ETS from the Army in 9 months. I want to start a marine construction company!
@contractorfighttv3 жыл бұрын
Go for it!
@wheelie6423 жыл бұрын
The laptop on the left is a Goliath!
@joseest95254 жыл бұрын
Boss man you have inspired me to be an entrepreneur good bless! im a 5yr drywaller and steel framer in atlanta wanting to become subcontractor any tips
@mattteekel82374 жыл бұрын
Hey man do you have the workers?
@michaelbacile84392 жыл бұрын
Would this same principle apply for daily pay? Where I live guys prefer to be payed a day rate. If we work a short day they get payed half the day rate.
@VideoNash5 жыл бұрын
Thanks for the info.
@Lawnandgarden2 жыл бұрын
So what if you have 2 employees working at same project? Using the example above. $31.50 is for one employee. I would have to take $44.15+14.7 + (31.50×2) ?
@calbertkensill8435 Жыл бұрын
It's difficult to be positive when you're not sure if you're going to get i didn't get paid for the last landscape i did they said everything looked good so the work wasn't the problem and i have similar landscape for someone else but i really don't want to do all of that work for free
@joshuawelch7884 жыл бұрын
Hello my name is Joshua I just started my company and I love watching your videos they give great information and personal insights are always on point for me....you were saying about the 20000 how do you keep it there so do not dip into the pot...is that the base and everything else the growth?
@tomcattomcat16155 жыл бұрын
Smart obedient workers
@anthonyromano85654 жыл бұрын
I could have used this along time ago.
@craigfoster1707 Жыл бұрын
If this is a side hustle at this time, how do estimate the break even when you are not sure how many hours you may work?
@jasonhodges80674 жыл бұрын
This is exactly what I’ve been looking for! Thanks a lot. Is there any way you can make a video such as this and include how to bid with overtime?
@milavaconsulting93322 жыл бұрын
Came to YT to try to learn how to grow my GC company that’s blowing up with work but saw this and it (and your other videos) are incredibly helpful. How do you suggest calculating this when you have numerous jobs that pay subs/1099 IC’s? Thanks man!!
@tomcattomcat16156 жыл бұрын
What’s the best checking account structure to have in place for a special ty contractor ?
@cruzcreation205 жыл бұрын
Request for a federal tax ID# from the IRS, once you get the paper work on your issued TID, go to your local bank to open a business acct. You can't open a business acct without a tax id#
@scott8706g5 жыл бұрын
We’re going to start implementing the structure outlined in Profit First. Might be something for you.
@averageguy76412 жыл бұрын
@@cruzcreation20 *. EID
@RuizLawnCare6 жыл бұрын
Love this info
@contractorfighttv6 жыл бұрын
Thanks for watching. Let me know if you’re ever in Manitou Springs.
@RuizLawnCare6 жыл бұрын
I Sure will!
@danielyarbrough9424 жыл бұрын
Great business principles! Thank you for the info, your blackboard will go a looking way. Will you be sharing a link to the calculator you're using on your computer to come up with your numbers? Thank you for emphasizing the non-negotiables when hiring. This mistake has bitten me in the A way too many times
@danielyarbrough9424 жыл бұрын
*long way... damn autocorrect
@forrealtyler2 жыл бұрын
I've used this formula and now very confident. Does that 50% add pm before tax or after. I'm assuming after taxes because your O & P would no longer be 50% in pocket
@chaneleasleygrant86826 жыл бұрын
How do I contact you personally to talk about my business
@anthonyfracchiolla22684 жыл бұрын
You are very knowledgeable but let me ask you this. Isn't better to keep your Company small and keep your overhead low. The ones that do very well in my area are the ones that have a couple of people plus themselves and work from home. A lot of people are learning to stay away from the Big Companies. People are learning to find the Sub Contractors or even lower than that
@ANPennsylvania2 жыл бұрын
A contractor tried to charge me 15K in accrued credit line interest that he incurred during the duration of my house build / construction loan. COVID and supply chain issues did affect the duration, and I bought extras, but there were never any terms or change orders served to me once and I paid all extras without question. The interest, I am not responsible for and will not pay - that's the cost of doing business. I feel this is extremely underhanded and trying to re-coup on inflation / pandemic losses. That's a you problem, not a me problem - I disregarded the last invoice and if it's pursued further, i'm suing to recoup all extras that there's no change order for. Some of you contractors need to realize the business end of it - as someone who's done millions in business, I have NEVER ONCE asked a customer to pay interest on extended time frames.
@albertoserrano47366 жыл бұрын
im 19 bout to open my garage trynna make a living
@contractorfighttv6 жыл бұрын
Glad to hear that
@mikerosy69242 жыл бұрын
4 years ago labor expense was around $25 an hour. Today $50-75 an hour easily.
@dulceserrano0074 жыл бұрын
Im new here! Enjoying your videos super informational. I don’t know some acronyms being used.
@kellyash455 жыл бұрын
Bad ass content man!
@contractorfighttv5 жыл бұрын
Thanks for watching!
@milaimmaxhuni77073 жыл бұрын
Thenk brother you are 👍
@contractorfighttv3 жыл бұрын
Thank you Milaim
@brandonhogan7304 жыл бұрын
What kind of camera do you use my man?
@exploretheworld30645 жыл бұрын
Hi I need your help
@dirkg70623 жыл бұрын
An honest days work with an honest days pay.
@lbcg1608 Жыл бұрын
You get what you pay for... I get proving yourself however I've found too many times that what leads to the opposite of your 3 non negotiable a is changing pay plans...reducing percentage and commission ... So many business operate this way. It's greed
@contractorfighttv Жыл бұрын
Some business owners are greedy. Most haven’t learned how to communicate and treat people.
@GOZILLA_VR2 жыл бұрын
can we get some more ads?
@joshuaarias57784 жыл бұрын
Very helpful video, thank you sir. Semper Fi.
@pinchestimating Жыл бұрын
How would we contact you?
@contractorfighttv Жыл бұрын
Shoot an email to help@thecontractorfight.com
@richenglisch50354 жыл бұрын
YESSSS
@westernworldaust4 жыл бұрын
How does this work with your 50% rule
@contractorfighttv4 жыл бұрын
This is just another way of finding your true numbers. 50% rule is a fast and incredibly simple place to start for those who don't know their numbers. As you learn more...you can apply this to get more accurate.
@contractorfighttv6 жыл бұрын
Don't miss Contractor Fight Night at www.thecontractorfight.com/fightnight
@fmproductions1413 Жыл бұрын
Yo Tom ur THAT fcking guy pal! Thanks
@contractorfighttv Жыл бұрын
Thanks for watching!
@kevinheidt40244 жыл бұрын
Sorry, I see a hole in your thought process. The 42 an hour is based on a full month even though the job with 100 man hrs between three guys is not a complete month.
@contractorfighttv4 жыл бұрын
the 100 hour job is not meant to fill the month. That’s just one job that can be knocked out with a 3 man crew in a few days. It’s on you to fill at least 480 total man-hours for 3 FT peeps. Now you got 380 to go I order to hit your numbers. If you book work for less than the 480 you’d have to charge more per man hour to recover your OH. 🤔
@ClTlZEN_X5 жыл бұрын
Just started my GC business and boy it's hard to find jobs even with good reviews. I bid on jobs, and that's where it ends. Can't figure out if I give too low or too high estimates. Hopefully this helps.
@TheMIKEZ54 жыл бұрын
KOMEPCAHT did you figure out what was going wrong with you not getting the jobs I am in the same boat and about to sink and I do estimates and that’s it
@mystyboarder9104 жыл бұрын
You most likely need a sales estimator. It’s not about the price as it is about the person and how the Homeowner feels about you.
@strokerace47652 жыл бұрын
You pay the guys $25 an hour and charge the client $75 an hour per man.