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Planning for Profit
HVAC Business Solutions is proud to have partnered with Bill Ligon. Bill Ligon, founder and owner of
Ligon Consulting who has been in the
industry his entire career, started, operated and sold Air Comfort
Center to a national consolidator after 23 years. Since, he has been an industry consultant having
published articles for The NEWS and was a Comfort Tech speaker in 2004 and 2007.
All Business Development Workshops discussed in the section are performed by Ligon Consulting.
There are two reasons for accounting or accurate record keeping: The most important of these is to make the business owner aware of the true condition of their business. The second reason is to calculate the taxes we owe. For the most part, we have reversed the priorities! Our CPA's and bookkeepers think their job is calculating taxes. You will learn how this mistake is costing you money!
Balance Sheet
Bankers love to do business with dealers who understand how to read a balance sheet. After this workshop, I guarantee your banker will be impressed!
Profit and Loss Statements
I have looked at hunders of P & L statements, and I have yet to see one set up correctly. Our accountants and bookkeepers have us putting entries in the wrong places and as a result, we have information that is useless for decision making. You will learn in this workshop what may be wrong with your system and what to do about it.
Subcontractors
You will learn how to correctly price those bids from subcontractors.
Warranty Reserve
Learn why you need to add a small cost to all your jobs to cover those warranty callbacks.
Purchase Order Forms
Learn how you can save time and money by using a good purchase order system.
Purchasing Procedures
Learn why you should take a new look at the way you handle your purchases for resale. Learn how easy and more efficient this new method can be. You will learn a simple but effective method for stocking and restocking your vehicles. We will also discuss the subject of "taking inventory".
Calculating the Right Price
Learn how to calculate the correct selling price every time, using the Divisor, Dual-overhead and the Labor Only methods. You will also learn the advantages and disadvantages of each method.
Gross Profit and Gross Margin
You will learn not only how to calculate those important numbers, but why they are absolutely necessary to correct pricing.
Departmentalization
You will learn why you must departmentalize your business if you are ever to correctly price your goods and services. You will learn that without departmentalizing your sales and expenses you cannot tell which part of your business is either making or maybe losing money! I promise that you will wish you had attended this workshop a long time ago!
Job Costing
You will learn why you must job cost your installations and service invoices.
Forecasting and Budgeting
You will learn how forecasting will put you on the road to success. You will find out why successful businesses forecast their sales and expenses. Don't worry if this sounds like an overwhelming task, because you will learn there is an "Easy Button", The Profit Forecaster, to do all the work.
Breakeven
Learn how to track your business each and everyday as to sales and profitability. How do you think it would make you feel to really be in control of your business? By the way, you won't need an accountant to help you with this!
All Business Development Workshops discussed in the section are performed by Ligon Consulting.
What You'll Learn
- How to departmentalize your business by sales, cost of sales, gross margin, overhead, and profit/loss. Find out which part of your business is making money or maybe losing money!
- How to find the needed breakeven in each department. Similiar to the automobile dealer.
- How to calculate the "right price" every time using three pricing methods. (Divisor, Dual-Overhead, and Labor Only)
- NOTE: You enter your financial data into the Profit Forecaster and the software does the rest!
- Learn how to use the Pricing Calculator and the Breakeven features.
- Learn how to use the "If I Hire" Breakeven point.
- Play unlimited "What If" by changing your numbers in the Profit Forecaster.
- How to create a Cash Flow projection using the Profit Forecaster.
Important Topics
AccountingThere are two reasons for accounting or accurate record keeping: The most important of these is to make the business owner aware of the true condition of their business. The second reason is to calculate the taxes we owe. For the most part, we have reversed the priorities! Our CPA's and bookkeepers think their job is calculating taxes. You will learn how this mistake is costing you money!
Balance Sheet
Bankers love to do business with dealers who understand how to read a balance sheet. After this workshop, I guarantee your banker will be impressed!
Profit and Loss Statements
I have looked at hunders of P & L statements, and I have yet to see one set up correctly. Our accountants and bookkeepers have us putting entries in the wrong places and as a result, we have information that is useless for decision making. You will learn in this workshop what may be wrong with your system and what to do about it.
Subcontractors
You will learn how to correctly price those bids from subcontractors.
Warranty Reserve
Learn why you need to add a small cost to all your jobs to cover those warranty callbacks.
Purchase Order Forms
Learn how you can save time and money by using a good purchase order system.
Purchasing Procedures
Learn why you should take a new look at the way you handle your purchases for resale. Learn how easy and more efficient this new method can be. You will learn a simple but effective method for stocking and restocking your vehicles. We will also discuss the subject of "taking inventory".
Calculating the Right Price
Learn how to calculate the correct selling price every time, using the Divisor, Dual-overhead and the Labor Only methods. You will also learn the advantages and disadvantages of each method.
Gross Profit and Gross Margin
You will learn not only how to calculate those important numbers, but why they are absolutely necessary to correct pricing.
Departmentalization
You will learn why you must departmentalize your business if you are ever to correctly price your goods and services. You will learn that without departmentalizing your sales and expenses you cannot tell which part of your business is either making or maybe losing money! I promise that you will wish you had attended this workshop a long time ago!
Job Costing
You will learn why you must job cost your installations and service invoices.
Forecasting and Budgeting
You will learn how forecasting will put you on the road to success. You will find out why successful businesses forecast their sales and expenses. Don't worry if this sounds like an overwhelming task, because you will learn there is an "Easy Button", The Profit Forecaster, to do all the work.
Breakeven
Learn how to track your business each and everyday as to sales and profitability. How do you think it would make you feel to really be in control of your business? By the way, you won't need an accountant to help you with this!
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