HOW WE HELP
Turning Good Builders Into Great Business People
HOW WE CAN HELP YOU!
If you think franchising is just for the hospitality industry, think again!
Smith & Sons has been offering general contractors a franchised business opportunity for over a decade.
And now you’re probably wondering how it all works? Let us explain!
The Brand
The Smith & Sons Franchise system supplies the brand, systems, tools, resources, initial and ongoing training and support to a Franchisee to enable them to operate and develop a successful renovation business.
The Benefits
The major benefit for the Franchisee is that the Franchisor (the owner and operator of the head company) has invested hundreds of thousands of dollars & many hours developing systems the Franchisee can use immediately.
The Business
Smith & Sons Franchisees are responsible for the day to day operation and decision making in the business & with all of the digital branding, business & operating systems, training & support in place, the outlook is positive.
Smith & Sons identified key areas where general contractors struggle in building a construction company. They are:
It’s a cruel world when amazing craftspeople like general contractors are taught all about how to build a beautiful home or complete an amazing renovation project but were taught very little about BUSINESS MANAGEMENT & DEVELOPMENT.
Smith & Sons wanted to fill this gap by offering general contractors a renovation franchise opportunity. A systemized approach to owning, operating and developing a construction company.
And if you’re not focusing on FINANCIALS, MARKETING, SALES and OPERATIONS, the outcome you might create over time through TRIAL and ERROR on you’re own may be very different to the one you would wish for.
But you don’t know what you don’t know, right?
Consider the power of partnership. “I” cannot be as smart as “ALL” of us.
Moving your mindset from “ME” to “WE” could be the shift you need to make to reach the success you are looking for. Shorten the learning curve through association.
IN BUSINES FOR YOURSELF BUT NOT BY YOURSELF!
Marketing
Marketing and sales for many builders is the most challenging thing they have to deal with because it’s all about connecting with people! And if you do not understand the importance of a ‘sales funnel’, your business will not grow.
We always hear the old chestnut of ‘I never advertise, I just work on referrals’ but reliance on referrals only will inhibit your ability to grow a company.
Unfortunately, population growth across many areas of the country means that word of mouth just cannot keep up, and more and more people are choosing to simply Google ‘builders in their area’ and go from there.
You have to know how to reach these people, it’s that simple. And once you have reached them, you need the systems and skills to convert those leads into jobs.
Smith & Sons know this and so as a Smith & Sons Franchised general contractor, you’ll have access to years of sales and marketing knowledge that can keep you ahead of your competition in this critical area.
Financial
Newsflash…business is all about making money!
Yes, we all have our reasons ‘why’ we entered into business, our vision, etc, but if our business is not making any money, none of those ‘why’s’ or visions of grandeur are ever going to be realized.
We’re consistently amazed at how many contracting companies receipts are stored in car gloveboxes, shoeboxes, desk drawers, filing cabinets, and then are gathered up and dumped on the bookkeepers desk once a year with instruction to make it all work!
It is absolutely critical that a construction company’s financials be organised and be analysed regularly and that you know your numbers. Financial measuring systems and an ability to analyse reports, to know how to interpret the data to support data driven business building decision making is imperative.
You simply cannot afford to stick your head in the sand as it relates to financials and hope it will all work out in the end.
It’s important that you can look at your bank account at the end of each month and have the systemized ability to calculate your level of liability or equity and know what bills are to be paid out of the available cash at bank is key.
Helping you gain a quality understanding of your financials is the major focus of your Smith & Sons support team. Smith & Sons have worked with builders for over a decade and this is another advantage of joining forces with Smith & Sons.
Time
We all want time to do the things we enjoy – that’s why it is so important to manage our time effectively in developing a construction company. It’s called time management and the only way to do that is to have efficient systems and tools.
From the first time a client inquires or calls you up about a new renovation right through to when the project is complete and you hand over the keys. Systems and Standard Operating Procedures are a mandatory requirement.
Future
In our pursuit of happiness, we are often impatient with the process and never focus on the build process specifics. Just like renovating a home, there is a right and wrong way to do it and attention to detail is a must. There are many things to consider, both personally and commercially, as you develop your business.
A few of those influences we urge each of our Smith & Sons general contractors to consider are as follows:
Market trends and competition: Stay informed of changes in the market and identify potential opportunities and challenges posed by competitors.
Financial stability: Plan for short-term and long-term financial stability and prepare for unexpected events, such as economic downturns.
Business succession: Plan for eventual retirement or transfer of ownership, including developing a plan for transferring management and leadership responsibilities.
Work-life balance: Consider the impact that running a business may have on personal life and plan accordingly to achieve a balance between work and family.
Legal and regulatory compliance: Ensure the business is in compliance with all relevant laws and regulations, including employment, tax, and health and safety.
Team development: Invest in developing the skills and capabilities of your team to improve business performance and ensure a smooth succession.
Technology and innovation: Stay up-to-date with technological advancements and consider their potential impact on the business.
Community engagement: Consider the role the business can play in contributing to and benefiting from the local community.
The largest enemy of success is complacency. We all need a coach and someone to support us or push us, especially when we find ourselves in a challenging situation.
Far to quickly, we will find ourselves chalking up another decade with no massive forward movement in our business. This is frustrating and depressing and we wonder where we went wrong or what we could’ve done better.
We are the sum total of the decisions we have made and don’t have the ability to change the past.
But we definitely can do something about the future and that’s exciting and inspiring!
Don’t put off your success any longer. You owe it to yourself and your family to finish what you started and future prove, as best you can, your business. At Smith & Sons, you’re in business for yourself but not by yourself.