Recognize the Barriers to Successful, Profitable Construction Projects
“All you have to do is get it done” kind of sums up where contractors stand in 2021, with more work becoming available along with more barriers to win bids that allow for cash profit. It’s not like it was a few years back when you could plan the work and work the plan and make a buck. With prices for goods and services continuously changing and the lack of qualified help, every contractor has to look in the mirror each day and ask themselves, “How am I to complete what I have planned for today?”
Bidding the work is not like it was two or three years ago where you were always at least in the ballpark when it came to pricing out the job and adding in the overhead and profit. It’s not the same today, not by a longshot, because the bids are tight, there is a lack of qualified help and equipment rental prices are sure to spiral higher once construction activity swings into full gear.
Even if you bid it right, materials costs can change tomorrow….