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Why Most Cabinet Shops Aren’t Making Enough Money
Why are so many cabinet shops bringing in revenue but still struggling to make enough money?   In this episode, Dominic Rubino sits down with business coach and former cabinet shop owner Pete Fico to break down one of the most important parts of running a successful cabinet business: PROFIT.   Pete shares lessons from his own entrepreneurial journey, including growing a cabinet company from just over $3 million to nearly $11 million in sales.   They discuss the difference between gross profit and net profit, why cabinet shops need to track their numbers, and how seemingly small costs can quietly destroy the profitability of a job.   In this conversation, you'll learn about:   • Gross profit vs. net profit in a cabinet shop • Why job costing and end-of-job reports matter • How to identify profit leaks in your business • Why installs, callbacks, and travel time can cost more than you think • What your sales conversion rate can reveal about your pricing • Why your prices may be too low • How tracking numbers helps you make better business decisions • Why collecting data is useless if you don't act on it   Pete also shares how analyzing jobs by travel zones helped his company identify where money was being lost including installation issues, punch-list trips, parking challenges, and unbilled time.   If you own a cabinet shop, millwork company, closet business, or woodworking business and you're generating sales but wondering where the money goes, this episode is for you.   The goal isn't simply to sell more work.   It's to understand your numbers, price your work properly, and make sure there's actually money left at the end.     More about Pete Ficco: Linkedin: https://www.linkedin.com/in/peter-ficco-b203b017? Company's Linkedin: https://www.linkedin.com/company/prosper-vp? Website: https://www.prospervp.com/   Also check out: Cabinet Maker Profit System: https://www.cabinetmakerprofitsystem.com Profit Toolbelt: https://www.profittoolbelt.com/ Contractor Wealth System: https://www.contractorwealthsystem.com/   DON'T FORGET TO SUBSCRIBE:  @Cabinetmakerprofitsystemcom   @profittoolbelt4527    #cabinetmakerprofitsystem #ProfitToolBelt #dominicrubino  #millwork #cabinetmaker #woodwork #profitability #podcast #efficiency #entrepreneur #architecturalmillwork #woodworkingbusiness #CabinetShop #ArchitecturalMillwork #ContinuousImprovement #LeanManufacturing #WoodworkingBusiness #ShopManagement #ExitPlanning #ManagementBuyout #ConstructionBusiness #petefico
Cabinet Maker Profit System Podcast I Business Owners I Cabinet Makers I Architectural Millwork I Furniture Makers I Business ideas I Tips I Business Coach Dominic Rubino
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