Risk Quotient of Remodeling Newark DE

Remodeling is a risky business. It's a minefield of permits and inspections, hazardous material testing and remediation, and safety concerns.

Local Companies

SE General Contractor
302-220-1550
1204 read st.
wilmington, DE
Quintechs,LLC
609.703.2020
1103 Yorklyn Road
Hockessin, DE
RICHARDS PAVING INC.
1-800-ASPHALT
9 BELLECOR DRIVE
NEW CASTLE, DE
mbloghomes
484-643-3134
327 Rose Hill Road
West Grove, PA
Stone Masters inc
610-444-7200
515 School House Road
Kennett SQ, PA
M & M Improvements
(302) 266-9303
Newark, DE
Prestige Home Improvements
(302) 737-4389
18 Albe Dr
Newark, DE
Bill's Pools & Spas
(302) 737-6028
Newark, DE
Old House Restoration
(302) 737-9813
98 Albe Dr
Newark, DE
American Heritage Contractors
(302) 239-6909
1240 Doe Rd
Newark, DE


Remodeling is a risky business. It's a minefield of permits and inspections, hazardous material testing and remediation, and safety concerns. In addition to managing the complex processes of project design, resource scheduling, and product selection and installation, remodelers have to establish and maintain client relationships that are often the most fragile commodity on the site. The slightest irregularity -- delayed delivery of a special order, slight imperfections in finish materials, misunderstandings over contract language -- can trigger a chain reaction of client emotion that quickly escalates from disappointment and annoyance to stubborn anger and even rage.

Is the risk worth it? For most remodelers, there's a lot of satisfaction in avoiding all the pitfalls, producing a product of enduring value, and building lasting relationships with customers. But real financial risk has to be balanced by real financial reward. We need to know we're being adequately compensated for the risk we assume.

One measurement is what Les Cunningham of Business Networks calls the "risk quotient." It's part of a "Crucial Data" report all of his clients receive at their semi-annual meetings, and it's calculated with this simple formula:

Risk Quotient = Produced Gross Sales/Owner's Total Compensation

Cunningham uses the risk quotient, along with a dozen or so other ratios, to help his remodeler clients understand the effects growth can have on their financial well-being. Most remo

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Featured Local Company

SE General Contractor

302-220-1550
1204 read st.
wilmington, DE
www.segenerlcontractor.net

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Chuck Gabbert (with daughter, Kari) knows his company's strengths and its limitations, and he resists the temptation to test either. “Our favorite jobs are $15,000 bathrooms and $30,000 kitchens,” he says. “The guys are really tuned into projects of this size,” which also require less “baby-sitting” than more upscale projects seem to demand.
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Chuck Gabbert (with daughter, Kari) knows his company's strengths and its limitations, and he resists the temptation to test either. “Our favorite jobs are $15,000 bathrooms and $30,000 kitchens,” he says. “The guys are really tuned into projects of this size,” which also require less “baby-sitting” than more upscale projects seem to demand.
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