As the remodeling industry continues to grow, it is important that your company is taking on your most-profitable jobs. Taking on a variety of projects when you’re starting out can help your company grow, but being strategic with your project choice can grow your bottom line.
Defining Your Target Audience
To define your target or niche, you should review the following factors:
- Jobs that produce a higher-than-average Gross Profit Margin
- Projects your Production team completes quickly and efficiently
- Reliably happy clients who’ll refer you more of these projects
Everyone’s niche is going to be different depending on their team and their market. The best projects may be determined by price or type. For example, if your designer is especially skilled in kitchen planning and assisting the customer in selecting materials – this will help you move to production faster and allow your team to execute efficiently.
Reviewing your project data and discovering the similarities in your high performing jobs will help you determine how to niche down and prioritize the types of jobs that will make you the most money.
