We’re excited to introduce you to the always interesting and insightful Taylor Hamill . We hope you’ll enjoy our conversation with Taylor below.
Taylor , thanks for taking the time to share your stories with us today Let’s jump right into the heart of things. Outsiders often think businesses or industries have much larger profit margins than they actually do – the reason is that outsiders are often unaware of the biggest challenges to profitability in various industries – what’s the biggest challenge to profitability in your industry?
For the last couple of years the biggest challenge in terms of profitability would be the rapid daily rising cost of materials like lumber. And paint shortages for the last year due to supply lines being disrupted from Covid. And now fuel costs being higher than they’ve ever been. These are all the biggest challenges I face as a business owner for the reason that when costs go up for essential materials, the price of the job goes up. And sometimes by a lot. Customers are often less inclined to accept bids that reflect these higher costs. With the most common response being “we want to try and wait for material costs to come down before we do this job”
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers
My company, freedom residential services is a general contracting company. Which means we handle all aspects of home construction, repair, and renovation. Often times we work closely with clients and guide them through a homeowners insurance claim process for damages to their home from storms, fire, or water damage. A lot of people don’t know how to navigate those waters so we help them every step of the way. We also give our clients as much detail about what needs to happen to achieve what they want regarding their home. We have a solid reputation as an affordable and honest construction company. We do what we say we are going to do, and we always stand by our work. Homeowners and investors appreciate our honesty when we deal with them regarding any questions, and proposed changes they want. It’s very rewarding being able to give people something they will be happy with for many years
Any advice for growing your clientele? What’s been most effective for you?
The most effective strategy to grow a clientele base is having integrity in all things we do. It’s a rare thing to be able to trust a contractor to do what they say they are going to do. One happy client will tell at minimum 3 people about the experience they had with us and those people usually reach out to us for work on their homes. Honesty and quality really does go a very long way in this industry
If you have multiple revenue streams in your business, would you mind opening up about what those streams are and how they fit together?
No we don’t have a supplementary revenue stream, or a financial backer. Our success or failure rests directly on us. That’s why it is so important for us to always do what we say we are going to do for our clients. Word of mouth is our biggest supporter. But if you don’t do the things you say you’re going to do, or deliver poor craftsmanship or consistently miss deadlines, word of mouth can be your biggest enemy
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