In this video series, Jeff Thompson from Renovare takes you through the top 5 reasons Australian builders go broke.
Reason No 1 – Poor Cash Flow
Poor Cash Flow – when not having enough money is coming into your business to pay your bills.
Renovare can help solve cash flow problems by providing increased sales, profitable jobs, management assistance and happy customers. Getting these four things right will reduce stress and give you more time for yourself & your family and more money for a better lifestyle.
Reason No 2 – Poor Business Management
Poor Business Management – little or no proper business systems & processes are in place.
At Renovare our whole business is built around systems & processes which we have used and developed over many years and which you can have access to from day one. We help you learn to think bigger, focus on the things that make you money, understand your financial position and forecast and prepare for the future. With Renovare you will be prepared, focussed and confident that your business and personal life is secure.
Reason No 3 – Undercapitalisation
Undercapitalisation – not setting up the company properly financially and/or structurally.
At Renovare we have a business plan in place to help you understand what you will need to have in place to run a successful company. Renovare can help with access to finance, understanding your numbers, licencing & insurance and preparing financially for the future. Having a solid financial business plan will give you the confidence knowing your business is on track and financially sound, your bills are paid on time and your tradies too!
Reason No 4 – Trading Losses
Trading Losses – losing money on one job and trying to make it up on the other – this happens due to poor estimating and quoting.
Renovare can help you by providing accurate and proven estimating systems, quick estimating systems, an experienced team to learn from and initial & ongoing training on all our estimating systems. Good estimating systems provide confidence that you are providing a good quality renovation at a fair price. Your customers will be happy with a clear and accurate quote!
Reason No 5 – Poor Financial Control
Poor Financial Control – not knowing where your money is going and when & where it is coming from – this is often due to poor financial reporting.
At Renovare we help you with weekly financial reporting, sound advice from another set of eyes and identifying the problem long before it arrives. Good financial control allows you to sleep easy, knowing you are on the right course for success!
Take the next steps to become a Renovare franchisee. To request a full Franchise Information Pack contact Jeff on 0422 334 144 or use the form below.