I own my job (not sure I’d call it a business…the boss ain’t supposed to work this hard).
I'm thinking this plays a role....school out means people are traveling. Dunno, I don't have enough history in business to establish trends yet....Election year, schools getting out, summer starting...kinda figuring things to be a bit fucked for a while at least. My business is certainly strange.....sold 4 cars worth of caliper rebuild kits with pistons yesterday and today for old Volvo P1800 w/ 3 piston Girling calipers.....haven't sold more than 1 set in a 3 month period before. I keep trying to find justification for what's happening but none of it makes any sense.
I had a customer carrying mid 8 figures in retention for a couple jobs. Eats into profits quickly when the rates shot up over the last few years.We have almost 6 figures in AR right now. Insurance companies are ridiculous and we are actually considering putting in a policy to to not accept anymore claims from State Farm because it is so insane trying to get paid from them.
Having serious cash flow issues right now because of it, but we are busy. I don't want to pay the interest / fees for working capital or invoice factoring so we are just not feeding our kids.......
That sucks. We had some of our big customers push 90 days. Made big issues with engineering for new projects, no product procurement and delayed jobs without deposit for 90 days. It’s been changed back to 30 days.We have almost 6 figures in AR right now. Insurance companies are ridiculous and we are actually considering putting in a policy to to not accept anymore claims from State Farm because it is so insane trying to get paid from them.
Having serious cash flow issues right now because of it, but we are busy. I don't want to pay the interest / fees for working capital or invoice factoring so we are just not feeding our kids.......
Seems like foreclosure fillings might be ticking up in some areas. Hang on to that hat.
One hand or 2
Man I never saw that coming or hours being cut people losing benefits going full time to part time. Damn.
Yup, we stopped working with SF. Even with an honest and accurate and backed up with everything required you still don't get paid on time and in full.We have almost 6 figures in AR right now. Insurance companies are ridiculous and we are actually considering putting in a policy to to not accept anymore claims from State Farm because it is so insane trying to get paid from them.
Having serious cash flow issues right now because of it, but we are busy. I don't want to pay the interest / fees for working capital or invoice factoring so we are just not feeding our kids.......
I have been going to El Torito a lot lately as they are one of a few restaurants in Torrance open until 10 weekdays since covid. Working late everyday and don't feel like cooking. They just fired the manager of 40+ years. Employees told me they are chopping all the long time Employees at each location to save money.
Only thing they pay on time is packouts right now. Got a mold invoice for $5k that is over 90 days and a mitigation bill for over $20k that is the same. Can't even get adjuster to return a call and we follow up everyday. Even zeroing out to get someone on the line isn't working anymore.
I'm wondering if I'm in an area like this, or if people with rentals are trying to get out. Wife commented last week that there seems to be more houses for sale. These would be the mid-range homes here, maybe 4-500k? More of them with signs and up longer than previous years. On the other hand, my friend put up his house one the other side of town, 1.1m. Very nice home, under 3000sqft I think. It sold in 3 days.
It's insane how bad they try to nickle and dime us. We use their "industry standard" pricing, document everything and use the IICRC standards (which they claim they use) and still don't get paid on time, on top of them trying to cut my invoice by 40% in some cases. It is tough trying to explain to some desk adjuster in Arkansas how much different it is running a business in CA.
I even struggled to get paid using there horrible fire and ice system. There is almost never an assigned adjuster, it's a brand new person everytime while working the claim and your told just to email the generic claims address and then get no response. So that's there system, string everyone out and we go away or settle for less. They will also tell you they won't cover something that is and should be covered. It's a joke.
And yet Newscum is raising ca business taxes.
caltax.org
Looks like 9 listed in Prescott Valley in pre-foreclosure or auction status on Zillow.
Do you put a lien on the house for the balance when the insurance company doesn't pay in full? Or just eat it to avoid negative reviews?
I’ve handled several fire claims with USAA on the solar replacement portion…. You are very correct. However just as a whole USAA has always been very good to deal with even the problem customers.
I would like to say it gets easier, but it doesn’t. Once you know the business, then you start learning the tax side so you can keep all the money you can. Then you need to pick up more business cause you want to grow, the you turn around and you need to pay more tax cause, well you had a good year. But in your head you are WTF, then where is the $$$$. So you look for more business so you can either grow more or have the same gross as the prior year.
90% of the time the Lien is not worth it, unless someone freaks out because of it and pays it but if it ends up in court to actually collect then chances are your screwed regardless. The homeowner is responsible for the costs at the end of the day but if the insurance company screws us we will attempt to settle with the HO just cover labor costs, or we will collect bare minimum from them and continue the fight with the insurance company.
Only the trades put liens on. I had an equipment rental company put a lien on a customers building we were working at when the equipment was delivered. Wasn’t in CA either.
The good carries are few and far between from what I can see on my side. The industry all together is a rough one so I can see both sides at times. There a ton and I mean a ton of crooked EMS companies out there that will scam the insurance carries so I can see them not trusting any vendor. There are also preferred vendors that are too deep in the carries that cut corners to keep the carries happy at the expense of the insured. So it's hard to find a balance. We have preferred partnership work and we treat it all the same, if something needs to be done we do it. We get paid mostly on time by preferred work and that is great but I am not cutting corners for anyone but we are also not running up the bill with BS. At the end of the day though, some of the most profitable jobs are the ones you don't take lol, billing does not equal collecting.
We make all our money building homes. Land development is a byproduct. We’ll break even on development to make 15% on a house. I can turn capital 3 times a year so that would equate to a 45% yearly roi on the home building side. I agree though not fun doing projects at break even lol.I'm wondering why you'd (your company) would even be doing this at this profit.
And at these margins, you've got to be grinding your contractors to the bone and I'd be worried about quality and code compliance. Just
Programmatic is still somewhat in infancy. Depending on what your end result and industry, you could see better results with ppc or sm advertising. Programmatic still has a high acquisition cost. I have seen about a 10% success rate with programmatic advertising. And 100% of the that 10% was engagement based.
Hopefully not Amerigas. We just got rid of them and use pacific coast propane now. Much better so far
Josh is with PCP
