The inability of contractors to cover overhead expenses is one of the key factors why so many restoration companies fail and will continue to do so unless the overhead burden of the company is accurately reflected in their estimate’s markup.
In addition to a recently released position paper, there is a lot of work being done on the hot topic of Assignment of Benefits, and unique training opportunities available through the new AGA Academy.
What is a liability money trap? For what I am addressing here, it is a set of facts and circumstances that can lead to potential liability issues for restoration firms. Facts and circumstances have already set the trap for the unaware; below is some advice on how to not into the traps.
“Don’t mess with Texas” has been the unofficial slogan of the Lone Star State since 1985. While the rest of the country thinks it’s just a catchphrase, true Texans know it actually began as an anti-littering campaign.
The emergence of private equity interests indicates that bigger money sees opportunity in our enchanted forests, but also brings “outside” influence that will forever change the landscape.