Running a successful contracting business is personally rewarding and can be professionally lucrative. Indeed, while businesses in other fields might ambitiously aim for a 10 or 20 percent year-over-year revenue increase, contractors that develop key relationships and establish a strong reputation can enjoy exponential growth in a short period of time.
However, with the potential for high rewards comes a range of significant risks — especially when it comes to managing seasonal cycles. That’s where business funding enters the picture and plays a pivotal role in solving 3 key seasonal problems that contractors face:
Finding The Right People at the Right Time
For most contractors — whether their firm specializes in HVAC, electrical, plumbing, roofing, concrete, and the list goes on — the biggest problem they have is getting qualified people into their trucks at the right time! Indeed, in many parts of the country the demand for skilled labor dramatically outstrips supply. And with many younger workers opting for careers in fields like AI and healthcare, the challenge of finding the right people at the right time is only going to get tougher in the years ahead.
Business funding helps contractors launch targeted recruitment campaigns that attract, engage and onboard the talent they need for short-term success, and long-term survival.
Getting the Phone to Ring (or Email Inbox to Ding)
Even during busy season, most contractors want — though not necessarily urgently need — to connect with more customers. However, during off-season when demand gears down for a few weeks, months or even quarters, finding ways to get the phone to ring (or email inbox to ding) is mission-critical.
Business funding gives contractors the working capital they need to launch marketing campaigns (online and offline), outreach to existing customers, strategically connect with referral partners, and carry out other initiatives and projects that drive demand — and offset or, better yet, eliminate off-season revenue dips.
Ensuring Sufficient Inventory Levels
Optimizing inventory levels is important in all sectors, but in contracting it can make-or-break a year — or in extreme cases, an entire operation. Business funding helps contractors procure inventory at the right time, so they can maximize revenues and profits when demand surges — and just as importantly, ensure that the shelves aren’t needlessly stocked during off-season.
To learn more about how business funding can help your contracting firm overcome seasonal problems, contact the National Business Capital team today or fill out our two-minute application. We proudly serve contractors of all sizes across the nation — from small firms to large enterprises. We’d be honored to be part of your success story.