TCF652: Contractor Q&A – “What Are Recurring Revenues for a Painting Business?”

the contractor fight podcast

Tom and Dan answer your questions about doubling materials costs, setting sales goals, time blocking and time management to help you succeed at selling, recurring revenue for painting businesses, and more. They also offer a recession-proof strategy for contractors.

In this episode, we talk about… 

  • Question 1:Despite doubling the materials and labor costs, nobody has called. I am all in favor of charging more, but shouldn’t we dive deeper into the numbers?
    • You should always dive deep into your numbers.
    • If no one’s calling, that’s a leads issue. 
    • It sounds like you lack sales skills since you don’t connect with people — work on that.
  • Question 2: Do you count jobs scheduled over the phone based on bracketing in the monthly sales goal, or do only estimates approved for bigger jobs count?
    • It all counts toward the sales goal.
    • Set a service and construction goal, number of leads, jobs, etc.
  • Question 3: How do time blocking and time management benefit sales?
    • Set aside your most productive time based on your availability and leads flow, then plan your day accordingly.
    • Time blocking and management is an activity game that leads to cash, checks, and closing deals.
  • Question 4: What are the types of recurring revenue for a painting business?
    • You can offer lifetime touch-ups.
    • Provide little services just to get back on the property and in front of the customer.
    • Communicate with them and help them identify tasks.
  • Question 5: Should sales goals change when you’re booked for two to three months?
    • Your sales goal should be evaluated weekly.
    • It’s a production capacity question — you should always sell more than what you can produce.
    • Don’t stop selling because you’re booked out (What if one of those big jobs gets postponed?)

Resources: 

Submit your questions to help@thecontractorfight.com with the subject “Podcast” and Tom and Dan will try to answer them on an upcoming show.

Visit our sponsors of this episode, NiceJob. NiceJob is Reputation Marketing software that will help your business collect 2-3 times more reviews on Google, Facebook, and the platforms that matter. Don’t forget to use code “Fight” for $50 off the first month on new accounts! https://www.TheContractorFight.com/nicejob 

Are you stealing money from your family because you aren’t charging enough for your services? Discover what you SHOULD be charging. Download our 50% Gross Profit cheat sheet: https://thecontractorfight.com/50

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