TCF803: When Should You Charge 50% Gross Profit

"When should you charge 50% gross profit?" — Tom answers this common question asked by many contractors and breaks down the rule of thumb for achieving the 50% gross profit. He also addresses the common objections by some contractors, like "I'm a GC. 50% Gross Profit is not possible for me," and dispels myths around what industries can and can't hit the 50% mark.   Conversation Highlights: [00:00] - Intro [00:58] - What 50% gross profit means [01:47] - When should you charge 50% gross profit [02:21] - How can contractors charge 50% if they don't know their numbers [03:38] - GCs can charge 50% gross profit too [05:28] - Situations when a lower gross profit is acceptable [09:54] - Custom home builder charging 50% gross profit [11:22] - Wrap up Resources: The Mile High Profit Summit isn't your typical boring contractor conference. Our speakers are experts who will keep you engaged with valuable tips and tricks that will immediately impact your bottom line. You can say goodbye to boredom and welcome actionable insights to help you skyrocket your profits! Visit http://MileHighProfitSummit.com and join us in Denver this September. 💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify