Far too many plumbing contractors’ business strategy is to simply wing it. Of course, that is not a business strategy and not a plan. Here are six plans that are elements of a strategy. Successful plumbers execute these. If you follow suit, your chances of success increase exponentially.
A profit plan is what the name implies; it is a plan to generate a profit. It is an annual budget, broken down month-by-month. It identifies the expected revenue, direct cost, gross profit, overhead and net profit. Through the year, managers track performance to plan and make adjustments in the plan according to actual performance.