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BUSINESS 431: Markup & Profit
- Define the basic formulas for computing full overhead, markup for new construction, renovation, complete job costs, breakeven point, and more.
- Determine the appropriate markup for your business, sliding scale markup, and margins.
- List details of good contracts with clients and subcontractors including payment schedules.
- Identify the warning signs of potential problems with your projects and business.
Companies that fail to plan, plan to fail. Understanding how to develop and manage complete job costs that account for materials, labor, soft costs, overhead, profit, equipment replacement costs, and other factors is critical to the success of any business. Michael C. Stone, author of Markup & Profit: A Contractor’s Guide, will use his 30+ years of construction experience to walk students through the terms, details, formulas, and process of determining all financial factors that must be considered in planning and cost estimating.
- PSP Expertise: Builder/Installer
- PSP Focus: Builder/Installer
- PSP Level 4
1.6 IACET CEUs