Glad it helped!

Nice!!

awesome glad I could help!

You got this!!

you're welcome!

Glad this content was helpful!

Hey brother! Great advice here. I agree with you that we will have to market some to grow 20% especially since natural attrition is around 20% each year to begin with. In this scenario we would stay around that 600k mark again. Our goal is to not grow the single location up to 1 million since we would need more non producing revenue employees and bigger management team to handle that size which will cut into profits. The model we are following currently is 1 General Manager for a location doing 600k-700k with 6 - 10 field members focus more on profit and not so much massive growth. My wife and I did plan on attending Summit in January but was unable to attend. We do have plans to attend the one this year in Louisville Kentucky and are super excited about it. Do you plan on being there?

It sounds like you have thought things through quite a lot. That's awesome. You appear to be following Mike Andes business model, which I think is a good one. I followed more of his original business model of growing to around 1.5 and having a GM, estimator, and 1 person in the office. For me, that's about 200k of nonbillable people and I take home close to 300k. Having things slightly larger gives a bit more of a leadership team if someone is gone to cover things. Next year I may split mine into 2 areas as well to help fuel growth a bit better without so much on the head of 1 GM. Are you starting a second location in 2024? Will you put a working GM in place as Mike teaches? You're at a fun place in business where you take home a decent amount and start to have some options. I look forward to seeing your progress. The business game is a lot of fun!

I've had a few people ask for this. I may make one this off season about it. Thanks for your input!

I don't at this time.

Chase allows you to have a business account.

These are all checking accounts.

Thank you, do you use online banks ?just checking which bank allows multiple checking accounts I am looking for one that allows

I think my question is what didn you allocate to marketing and profit while in growth mode

I made one already go ahead and look back a few months back.

When we were in growth mode we did roughly 5% profit, 20% Owners Compensation, 5% Emergency Fund, 10% Tax, 41% Op Ex, 12% Equipment(Reinvesting), 4% Marketing, 3% Repairs/Maintenance.

@@TheWillKelly This was what I wanted to know. Should've read the comments first🤣

We just use quickbooks and setup every bank account to it. Any transfers that occur between accounts get logged.

This will definitely help!!

@@TheWillKellyI’m going to need all the help I can get!! lol

We pay ourselves from the owners distribution account. When we have overflow of tax money we typically take half of it and move it to profit and leave the other half there for buffer overflow.

@TheWillKelly ok great! Yes I have an owners distribution account as well. Great idea for the tax overflow. Thank you much!

@@The_Nomad_Detailer you're welcome!

This would be under owners salary at a reasonable rate.

Thank you! Sorry I can’t share this exact one because I’ve since then changed it.

@@TheWillKellyyou should make a updated video on it

We only use 1 account to spend money out of which would be the operating account.

Owners pay is the salary you would pay someone to do your job as the owner. It is separate from op ex and what you pay employees

Not at the moment.

I don’t sorry. It’s pretty simple to make though so feel free to try and replicate it.

It’s not for sale sorry.

No I have a bookkeeper and CPA

OpEx if where the cost of good sold revenue goes to.

Thanks for the recommendation!!