Contractor Guide, In the news

Renozee Insights; How to make the most of 2022

Did you know that spending in the home remodeling industry is projected to grow by 9% in 2022?

The study came from the Joint Center for Housing Studies of Harvard University. They explain that a booming housing market and rapidly growing home equity are playing a part.

In other words;

Homeowners will probably continue being a strong, steady source of business.

That’s great news!

With Cincinnati’s population on a steady rise for the first time in decades, it’s no surprise.

We hope you’re ready to make the most of 2022 with your business.

Remember to advertise consistently, politely ask your satisfied customers for referrals, and hire good sub-contractors!

If you aren’t already- you should consider downloading the Renozee App and subscribing to our service. It gets you more home renovation projects in Cincinnati without having to pay any lead or finder fees and streamlines customer communication.

$20 million for home improvement in Cincinnati

Fifth Third Bank is making a 20 million dollar investment in home improvement in Avondale- one of our largest neighborhoods.

This is part of a nationwide move to develop low-income black neighborhoods and improve living conditions. Avondale is one of 9 neighborhoods in the country that has received a similar grant.

It remains to be seen how exactly this money will be used. $20 million can go a long way for a lot of home improvement contractors- but we suspect much of the money will go to government contractors.

You can read more about it here.

This is why all home improvement contractors should take pride in their work. When it comes to improving people’s lives, improving where they live can go a long way.

We don’t just provide a shallow service that gives a cheap thrill. We change people’s lives. We create new memories in childhood homes and help people enjoy retirement. We touch people’s homes in a way that makes them happy, proud, and comfortable.

We’re proud to be from Cincinnati, where these great changes are developing… And, we’re proud to be in this industry with you!

P.S. If you haven’t already downloaded the Renozee App and subscribed to our service, you may consider doing that to help out with your business and win more home renovation projects in Cincinnati. We connect contractors like you to homeowners looking for your services. We charge 0 lead and finder’s fee, too.

Should you scale up in 2022?

2022 looks like it will be a great year for home improvement contractors in Cincinnati.

If your business is going well, you may consider scaling up. But is it appropriate to do that? Are you prepared to scale up, and will you be happy you did it a year from now?

In this email, we’ll review a few questions you can ask yourself about your business, and yourself.

-Be clear on your goals before starting.

• Do you want more jobs?
• Do you want higher-paying and larger jobs?
• Do you want more management to do the work for you so you can relax?
• Most importantly, what do you need to do to make your goal(s) happen?

-Ask yourself: are you and your team ready?

Warren Buffet once said something to the effect of “It stops being fun once you have more than 10 employees.” He was half-joking. Scaling a business can change your life- and your bank account- but stress you out to high hell.

So, what are some indicators that you could make moves to scale up?

• Can you confidently handle all the projects that come your way?
• Does your work always produce satisfied customers?
• Is it easy to communicate with your customers and your team?
• Can you hire reliable workers, if necessary?

What should you look out for?

• Is it too stressful running your business as it currently is? Do you feel like a chicken running around with its head cut off- constant deadlines, unreliable workers, angry annoying customers, and stress?

…If so, scaling will probably make your problems worse.

-Focus on profit, not pure revenue and sales.

Again, this is where it’s important to be clear with yourself. What are your goals for scaling? Do you have the means to handle more / larger jobs? Is your team (if you have one) ready for it, and can you rely on them?

You may start advertising more, hire more workers, and get more work. But, if you don’t scale efficiently, you may end up with lots of extra work… And only a bit of extra income. This happens when you have unreliable workers, unclear scopes with new customers, and a low referral rate. When this happens, you become a slave to your business- always putting in extra hours to pick up the slack for your team, get new bids, and communicate with customers and team members.

Remember, you’re the boss. Don’t let your business become the boss of you.

-Remember your mission:

Your success will come from satisfied customers referring friends, family, co-workers, and industry contacts.

It’s easy to get carried away by the extra work, the increased income, and the people management… And, it’s easy to forget about what matters most- the customer.

Even if they’re sometimes annoying, or inconsiderate, or even clueless, remember that your customer pays the bills. They’re your lifeblood, and they have the power to help you achieve the scale you want. Treat them like royalty, and they’ll pay you back in spades.

The Renozee app makes communication with you and your customers easier, and it helps you win more home renovation projects in Cincinnati without having to pay a lead or finders fee. If you haven’t already downloaded the Renozee App and subscribed, you may consider taking a look.

Good luck, and remember we’re here to help you!

-The Renozee Team