Product category:
Estimating and Finance
News Release from: HBXL | Subject: EstimatorXpress
Edited by the Buildingtalk Editorial
Team on 11 November 2005
Factoring theft vital for improving
profits
Survey of builders reveals that 40% have at some point had tools and equipment stolen from site.
Not enough builders factor the possibility of theft when pricing a job and end up losing money That's the view of Joanna Mulgrew, marketing director of HBXL following a survey of builders which revealed that 40% have at some point had tools and equipment stolen from site
This article was originally published on Buildingtalk on 22 Sep 2004 at 8.00am (UK)
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As a result, many builders who thought they were going to make a good profit on a job are losing out because they haven't factored the possibility of theft into their calculations and the cost of replacing the stolen equipment.
The survey also revealed that only 25% of those who had had equipment stolen were able to claim on their insurance.
The problem not only has a direct effect on the bottom line, but also impacts on how long it takes to complete a job, as time has to be used in replacing the tools and equipment that have been lost.
Joanna said: "The issue of factoring theft into a job, is an area many builders often neglect, so when tools and equipment are stolen, replacing them directly impacts the profit".
"On top of stolen goods, many builders don't factor for wear and tear, so when tools break, again they have to be replaced which also impacts on the bottom line".
Fully aware of the issue of accounting for theft and breakages, the estimating software from HBXL called EstimatorXpress allows for such problems and gives the user a true breakdown of costs and profit right from the start of a project".
"That way the builder can get a true idea of what profit they are likely to make when quoting for any job".
"Joanna added: "Feedback we've received from builders using the software has been very positive as many in the past admit to have forgotten to include theft, wear and tear into their quotes". Request a free brochure from HBXL ...
"EstimatorXpress does it automatically and therefore gives a true reflection of what a job will cost the customer and how much money the builder will make.".
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