Remodeling Business Management Chapel Hill NC

A benchmark is like a line in the sand against which we measure ourselves. But comparing actual performance with a benchmark is a static measurement. Unless we've reached the goal, we have no idea whether we're moving closer to it or further away. A benchmark can help us find out where we are, but no single measurement, no matter how sophisticated, can tell us where we are going.

For that, we need trend analysis. A trend line is dynamic; it indicates which direction we have been moving and predicts which direction we will move in the future. You may have not yet reached a benchmark of, say, 30% gross profit, but it's good to know that your company's gross profit trend is upward. Even better would be knowing that the current trend shows you will reach that 30% benchmark in five months.

Best Laid Plans

For remodelers too busy to monitor overall company health, trend lines for a few critical company numbers will help you focus on the big picture. A good place to start is by tracking produced volume and gross profit every month (see “Budget vs. Actual,” below). The annualized “actual” numbers (row 2) become more trustworthy as the year goes on. In January and February, for example, these numbers represent only about 16% of the total year. At the end of June, however, 50% of the year is accounted for and the predicted annualized volume gains reliability. (More sophisticated trend line analysis, called a “trailing 12-month chart,” removes the seasonality by including data

Click here to read full article from Remodeling

TrendMark Inc

TrendMark Inc. is a full service general contracting company specializing in remodeling serving the Triangle Area.

919-868-4545
P.O. Box 5712
Cary, NC
www.TrendMarkInc.com

TrendMark Inc. is a multi-award winning, full service general contracting company specializing in remodeling. Since 1996, we have served over 1500 clients throughout the Triangle with everything from a small room renovation, kitchen and bath remodeling to whole house remodels.

Our success starts by listening to you and what you need. We take your wish list and formulate a well thought out design that will combine function with beauty, while staying within your budget. Once your project in underway, we personally oversee all aspects ensuring attention to every detail. The result: your complete satisfaction. We take pride in transforming your house into your dream home.

TrendMark Inc. can handle all of your home needs including:
• Additions-Design/Build
• Whole House Remodeling
• Kitchens & Baths Remodeling
• Custom Homes
• Outdoor Living Areas