Business growth advice for renovators
Next level strategies for experienced professional renovators
Renovation specialists have a unique skill: they can see the unseen and anticipate potential problems.
Because of the bespoke nature of renovations, each project can present a fresh set of challenges. The one consistency for renovators is the need to manage margins carefully.
At Tenfold, we respect the craftsmanship and attention to detail of our renovator business owners. It’s why we back them to be profitable and run predictable operations.
Discover what’s possible for your renovation business when you’re backed by a Tenfold coach…
Maximising the profit in highly variable projects
Business coaches who understand the complexities of renovation businesses
We know the niche of renovator builders
Renovation builders combine their construction experience with their intuition when they estimate a project. Whether the project is an extension, an addition or a remodel, the builder often has to quote on unknowns behind existing walls and integrating new frames with previous (not always straight!) frames.
We know what makes a good renovation specialist
The renovation niche of the residential building sector isn’t for every builder. It’s best suited to problem-solvers who are capable of brainstorming ideas. It’s a calling for craftsmen who can think through roadblocks and come up with good and efficient building solutions.
We know the investment involved
Unlike custom builders who get a freshly cut site and start from the ground up, renovation specialists inherit a mystery box project with each existing home. Each build is an investment of patience, planning and skill.
How business coaching works for renovator builders
Best-in-breed strategies customised to your renovation business
Our business coach team provide practical advice across all functions of your business including marketing, financial models, subcontractor management and operations. At the strategic level, your Tenfold business coach assists with:
Speak with a renovator builder coach at Tenfold Business Coaching today and discover what’s possible for your business.
Coaching for effective communication across projects
Optimising home renovation projects through effective communication and collaboration
The best operators in this distinctive construction sector know that the efficiency of a build can be heavily influenced by whether the homeowners stay or vacate during the project.
Generally, it’s better for all parties if the occupants move out while all stages of construction works are being undertaken. When homeowners remain in the house they can have a high-level anxiety due to dust, movement of building activity throughout house, and the general untidiness that comes with a live building site.
One contributor to success is using trades that have high interpersonal skills who feel a shared sense of responsibility. Additionally, the best trades will also share a similar problem-solving mindset with the primary contractor.
In addition, they need to draw on experience with electrical and plumbing, as they have to assess the quality of wiring and plumbing works. A challenge when estimating renovations is knowing when to build on existing services versus when to rewire and/or replumb the entire house.
These combined skills mean the subcontractor can talk through unforeseen challenges with clients and come up with effective solutions on site. Not only does this give the owner confidence in the “builder’s team” they have trusted to improve their home, it also benefits the project by reducing delays and keep the project on schedule.
Coordinating skilled trades for streamlined results
Maximise results while navigating complex factors
The fact that renovations take place on an existing house means they are by nature complex building projects. It’s common for a renovator builder to navigate heritage overlays, tight site access and running a construction site while the owners are still living in the house.
Complexities aren’t limited to the existing house. There are often other factors to be managed carefully such as negotiating with neighbours about site access, boundary fences, tree protection and even working out arrangements for on street parking for your trades. And with more people working from home, the neighbour factor can be more sensitive than ever before.
The location of the house can add another element of complexity if there are site issues such as antiquated storm water and sewerage, issues of site draining, and requirements for retaining walls.
Securing profitability with robust variation management
Navigating unforeseen changes and client expectations in renovation projects
A high-quality extension or remodel can be a significant investment for the homeowners, so it’s common for them to try to reduce their outlay. They may seek to reduce costs by supplying materials, doing some of the labour themselves or getting their cousin who’s a plumber to do part of the project. We coach our renovator builders on how to push back on the homeowner’s “thriftiness” while still maintaining a respectful and amicable relationship with the client.
Because the homeowners often rent (and therefore incur additional costs for their build), we coach renovator builders to streamline construction timeframes to get in and out as quickly as possible.
Profitability can be acutely impacted by how well variations are managed. For renovation projects managing variations is more of an issue where unforeseen works need to be explained, costed and client needs to be convinced.
To assist our clients with this we coach on communication and customer service, negotiation skills, knowing when to push for compensation on variation and when to invest in emotional bank account with client.
Building strong foundations with team management
Nurturing builder-designer collaborations and maximising team efficiency
Submitting for tenders, estimating, and internal progress reporting are management functions that benefit from industry-leading best practices. As a firm of business coaches, Tenfold’s team has insight into how the best in breed manage these functions effectively and efficiently.
Many builders have close working relationships with designers and architects. It’s especially important with renovators to be first preferred builder (or at least a consistent second choice) when working in conjunction with architects to avoid becoming the “quoting machine” for the industry.
Although renovation specialists often run smaller crews than developer builders or custom home builders, team management is still important.
Coaching assists business owners with recruitment, productivity, leadership, career development, and management support.
