Remodelers now have a unique opportunity to see how their business stacks up against the competition with a new publication from the National Association of Home Builders (NAHB). NAHB’s publishing arm, BuilderBooks, recently released the 2023 edition of the Remodelers’ Cost of Doing Business Study, a national study of remodelers’ business practices and financial performance.
The study provides remodelers the opportunity to evaluate their financial performance compared with the industry as a whole and with remodelers of similar type and size. This new resource gives remodelers an inside look at other remodelers’ financial books by providing data about profitability, cost of sales and expenses.
The Remodelers’ Cost of Doing Business Study contains a wealth of data and analysis to help remodelers boost profitability, increase efficiency, set realistic budget targets and improve upon their business practices. Several categories are analyzed in the survey making it easy for remodelers to compare their performance against the data.
“This updated resource offers a great chance for remodelers to learn from their colleagues in the industry,” said NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Ala. “The new edition includes a wealth of data on operating costs, profits, sales and much more, giving remodelers an opportunity benchmark their own business against similar companies.”
Readers can see how they measure up against industry-wide averages in areas including:
- Gross margin and net profit
- Cost of goods sold
- Operating expenses
- Financial ratios
The Remodelers’ Cost of Doing Business Study, 2023 Edition is available in both print and eBook formats at BuilderBooks.com.