With material costs on the rise and business insolvencies up 30% from last year, Fergus is encouraging tradespeople to keep a close eye on the amount of profit they are making. Although a seemingly obvious point, many tradespeople just do not have pin point knowledge of how much money they are making that could go towards better living, family holidays and the stuff that really matters.
“Working on a 10% net profit means that in a 40-hour week, you are only making money in the last four hours of the week,” explains James Chillman, UK Country Manager. “That is a scary stat, and it means for the rest of the week up until Friday afternoon, you are busy just getting to the break even point.”
“The way to really boost net profit is to manage costs properly and keep an eye on the profit level on each job,” adds James. “With material costs on the rise and the spectre of inflation still lurking in the background, it really is time to get a handle on your business outgoings and know for sure which jobs are making a good profit, and where you need to take action if profit levels drop.”
With Fergus job management software, you can see how a job is tracking and how much it’s making or costing you. It will tell you if a job is running over budget and give you insight into what’s going wrong before you lose your margin. Even before a job even starts, you know how much money you are going to make on it. You can see the state of your jobs and business at a glance using a colour-coded dashboard too.
“If you’re not using job management software, seeing how your business is performing in certain areas and how profitable individual jobs are can be difficult,” continues James. “We really are on the trades’ side and want them to get to a place where they have the time and money for the more important things in life. Making profit is the key to this – why not let job management software give you a helping hand?”