9 Tips to build a multi-million dollar contracting business in greater Cincinnati
                     9 Tips to build a multi-
million dollar 
contracting business in 
greater cincinnati
 It’s still a great time to grow your contracting business in Cincinnati Ohio for investment property 
renovation projects. Real estate investors in Cincinnati have been investing at a great pace to 
renovate rehab homes such as bathroom and kitchen renovations. This means more opportunity 
for independent and general contractors to grow their business.
 Here are 9 tips to help you successfully build a multi-million dollar home renovation contracting 
business:
1) Plan
 Planning is probably the most important step that you’re going to take when building a 
successful contracting business. Plan to grow your business for the long haul. You’ll first want to 
decide on what type of renovation or repair trade that you enjoy doing the most and identify if 
it’s a current need and if it’s profitable. Starting out, you may decide on simply focusing on 
bathroom remodel projects in Cincinnati.
 Once you’ve identified what it is that you enjoy doing the most that are also profitable, you may 
want to go further in deciding which kinds of property renovation that you want to brand your 
business in. This could be single and multi-family homes, apartments, rehabs, and commercial 
properties.
 In the planning phase, you’re also going to determine how much profit you will need to make 
from every job to grow your business.
2) Make sure you’re licensed and insured
 Some states may require it but make sure that you’re licensed and insured. Being licensed and 
insured not only protects you from anything bad that may happen on the job but it also provides 
you with a competitive advantage, opening up more bid opportunities. Also, having the proper 
license and insurance is a great way to portray trust and responsibility with your customers.
3) Figure out how much profit you need to make
 Be sure to know how much money you need to make every month to keep your business 
running. Contractors are often so caught up in working and winning more business that they 
forget about the basics of knowing their business profitability. It’s not a good scenario if you’re 
winning a lot of jobs but those jobs aren’t leading to profitability. After figuring out how much 
profit you need to make. You may decide that you need to work larger 
home renovation projects in Cincinnati in order to remain or become profitable.
4) Figure out what you’re going to charge for your services
 You’re going to want to become very knowledgeable when it comes to pricing for your services. 
First and foremost, always price to be profitable. Never underbid your services to win home 
renovation jobs in Cincinnati. Be very selective in the kinds of investment property renovation 
projects that you take. If you’re an experienced contractor, you probably already know what to 
charge.
 However, if you’re just starting your home renovation contracting business, you may have no 
idea what you can or should charge. If you’re in this boat, there are multiple sources from where 
you can obtain information about what your pricing should be for the kinds of services that you 
are offering. A great resource for pricing your services is the Renozee App which enables you to 
submit a bid, see other contractors bid, and resubmit a more competitive bid to win jobs.
5) Figure out your brand and what makes you unique
 Since you’re going to be submitting competing bids and competing against other home 
renovation and repair companies, now is a good time to come up with a way of standing out 
from the crowd. For example, you could brand your contracting business around quality 
craftmanship, always completing your renovations on time, being experienced specifically in 
investment property renovation projects.
6) Figure out your sales process
 The first thing that you’re going to want to learn is how to provide clear scopes of work, 
promptly. Know how to layout in plain terms of how you’re going to complete the job and be 
able to communicate this to the customer. This will be a crucial part of your sales process. Also, 
develop a process where you can provide bids and scopes of works quickly. The average amount 
of time it takes for contractors to submit detailed scopes of work is two to three days.
 To have a competitive advantage, ensure that you’re submitting your scope of work before or 
within the same time frame as your competitors. Follow-up within 24 hours of submitting your 
scope of work to answer any questions the customer may have.
 Offer your customers multiple ways of paying for your services. Bigger jobs will require larger 
sums of money to be paid out.
 Offering multiple ways that your customers can pay you will ease the burden on them and allow 
you to win larger jobs. The bidding app Renozee enables you to receive customer credit cards 
and check payments quickly directly to your checking account.
 Figure out how you’re going to track your leads and bid submittals. In the home renovation 
contracting business, leads can come from anywhere and at any time.
 Without a clear way of tracking leads and staying organized, you may miss out on opportunities 
for submitting prompt bids on high-profit jobs. Another reason you’re going to want to become 
efficient at tracking leads is for you to identify where your good quality leads are coming from. 
Some lead sources may work better than others. The lead sources that aren’t working out so 
well may not be time-consuming and not worth your time and costs.
 Be sure that you’re keeping track of all your bids submittals. With so many texts, emails, and 
back and forth customer phone calls, it’s easy to lose track of when and where you’ve placed 
bids. The Renozee app organizes your bid submittals by bids placed, job payout size, and jobs 
awarded.
7) Create a schedule for days that you don’t have any jobs
 During days that you don’t have any working jobs, it would be a great time to reach back out to 
past customers to see if they have any available or upcoming opportunities. A good way of 
approaching the conversation is to mention that you’re following up to verify that they’re still 
satisfied with any previous work that you’ve done for them. Lastly, be sure to end the 
conversation by asking “who do you know that could also benefit my contracting services?”
8) Promote your business
 To become a multi-million dollar home renovation contracting business, you have to promote 
your business relentlessly.  At every stage of your customer interaction, you should always be 
promoting your business. Relying simply on word of mouth won’t be good enough. Even if 
you’re currently getting a lot of business, make time to promote your business. As your business 
becomes more profitable, you will become even busier, and your efforts in promoting your 
business may decline.
 While you’re out in the field, the Renozee App enables you to receive jobs matching your 
business services and enables you to promote and bid on jobs for free, saving you time and 
money.
9) Hire the best sub-contractors
 As you make your way to becoming a multi-million dollar home renovation contracting company, 
you must hire the best sub-contractors. Your company’s reputation is on the line and one bad 
review could cost you thousands in lost business. Hire subcontractors that are genuine and 
passionate about their work. Take the time to look into your subcontractor’s previous work 
history and verify that they’re reliable and do quality work.
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Get in touch with us
PO Box 1175 PMB 30072
Cincinnati, OH 45201 
(888)-371-6111
[email protected]