Tom Grandy

Tom Grandy.

Why $1 million contractors go broke

Grandy founded Grandy & Associates 28 years ago A contractor must know what labor rate must be charged to cover the costs of doing business Contractors must develop a cash flow budget and track cash flow monthly Create a marketing plan that includes results Network with other contractors, but vet them carefully first Create a maintenance agreement department and bill agreements monthly Use flat rate or upfront pricing  

DAYTONA BEACH, FLORIDA — Tom Grandy pointed out the obvious. Why do some contracting firms prosper but others don’t go anywhere? It’s not that big a secret but so many contractors don’t take care of a few fundamentals that Grandy’s message is always relevant.

Grandy, who founded Grandy & Associates 28 years ago, told members of the Quality Service Contractors meeting here about the “15 Things All Successful Companies Have in Common.” All

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