NBN Online for the week of May 16, 2005

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In This Issue:

Front Page
Builders Seek Timely OSHA Citations and Other Reforms
Will You Be the Next Winner of a Digital Camera?
New Southern Nevada Homes Embrace Water Conservation
Coast to Coast
Developer Tactics to Avoid Housing Bust
Economics & Finance
Home Buyers Opt for Upscale Smaller Homes
Builder Confidence on Home Sales Holding Strong
Business Management
What Do You Need From Your Estimating Software?
Seniors Housing
A Holistic Approach to Wellness for CCRCs
Remodelers
Little Consolidation Seen in Remodeling Industry
Ohio Remodeler Named Remodelor™ of the Month
Education
Education Calendar
Environment
New Roadless Rule Lets States Choose Forest Protection
Career Staffer New EPA Administrator
Building Quality
Pulte, KB Home Divisions Earn Quality Certification
Deadline for Housing Quality Award Application Nears
Workforce housing
2006 Workforce Housing Awards Open
Workers Make Hard Choices to Pay for Housing
Housing Costs Get Tougher Still for Working Families
International
ICC to Guide Mexican Codes and Standards Update
Labor
Student Chapter Opens at Acosta Job Corps Center
Building Products
Custom Sell Sheets Present Door Glass Upgrades
Builder's Engineer
Good Lawyer — Bad Lawyer
TV
NAHB-Produced Shows on HGTV & DIY — This Week
Endowment
Research Center Seeks Land Development Expert
Association News
Customize Your Computer’s Cursor With the NBN ‘Hammer’
Tsunami Relief at Almost $350,000
GM Discount Available on More Than 80 Vehicles
Calendar of Events

Related Articles

Ohio Remodeler Named Remodelor™ of the Month

Little Consolidation Seen in Remodeling Industry

The remodeling industry has seen little consolidation, according to panel members at the recent Remodeling Futures meeting of the Joint Center for Housing at Harvard University. Remodeling Futures was held earlier this year in Cambridge, Mass.

According to findings presented by the panel, the top 500 contractors in 2004 provided 3.9% of all remodeling jobs as compared with 3.7% in 2001. These low percentages with little change indicated a continued fragmentation of the industry, the panel reported.

In addition, the panel reported that more than 800,000 people in the U.S. ― most of them self-employed contractors — provide remodeling services. Approximately 170,000 firms that provide remodeling services have payrolls, but only 62,000 of those firms are general remodeling contractors. More than 100,000 are specialty firms.

Mark Richardson, CEO of Case® Design/Remodeling in Washington, D.C., and a member of the NAHB Remodelors™ Council, said that it was relatively easy to get started in the remodeling industry, but that many newcomers had difficulty succeeding. He said that the businesses of about 60% of self-employed contractors fail within the first five years. Richardson also noted that while nine in 10 remodelers are honest and hardworking, many are not savvy in their business practices.

Bill Owens, CGR, CAPS, of Owens Construction in Powell, Ohio, and a former chairman of the council, said that more than 80% of remodeling industry contractors were small firms making less than $500,000 in sales. The remaining 20% were either medium-sized firms making $500,000-$2.5 million in sales or large firms making $2.5 million or more.

Owens said that many in the industry purposely keep their sales below $500,000 in order to stay “lean and mean” so that they can easily manage their volume and profits. He said that once a business exceeds $1.5 million in sales, it needs to implement strong business systems to help manage the volume. If not, the business risks failure.



Follow the Trail to Success


The Paper Trail: Systems and Forms for a Well-Run Remodeling Company,” available through BuilderBooks.com, examines the six crucial systems that remodelers need to improve their businesses. From sales and marketing to financial management, “The Paper Trail” encourages readers to rethink their own business processes and systems and includes over 200 pages of forms, formats, checklists and other documents that make these systems work. To view or purchase this publication, click here, or call 223-2665.



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Once you log in, personalize the site to reflect your interests. Simply go to the My NAHB>My Profile page and click the “Edit Content Preferences” link. To learn more about how you can customize My NAHB — including how to customize the links that appear on the Home page ― visit the How to Use www.nahb.org section.


 

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