Increased market competition. Changes in the insurance industry. Homeowners who can’t afford
to pay out of pocket. All of these challenges erode your net profits and lower the value of your business when you decide to sell it. Before you can stop the bleeding, you need to understand what are you’re up against.
Insurance carriers continue to cut their own costs by underpaying or denying claims. At the same time, they’re demanding deeper discounts from vendors like you. On claims they do approve, they’re taking longer to pay for your services — 60 to 180 days or longer – which puts the squeeze on your cash flow. Add to this, market competition continues to grow with the consolidation of restoration businesses into mega-companies. Competing with these national players lowers your pricing and profits and puts you at a disadvantage in the bidding process.
Here’s the good news — all of these challenges can be successfully mitigated with a results-driven plan to increase your cash flow and raise profitability, right now.