Would you like to know the average net profit for residential remodelers in 2018?
NAHB is currently surveying all of its remodeler members to provide reliable benchmarks on the profitability of the remodeling business. Remodelers can use this data to compare their business to others, pinpoint improvement opportunities and set budget targets.
NAHB recently conducted a similar survey among its builder members to develop the Cost of Doing Business Study, 2019 Edition. The study found that in 2017, single-family builders had an average revenue of $16.4 million, with an industry average gross profit margin of 19.0%, while the average net profit margin reached 7.6%.
Similarly, this year’s brief survey aims to produce information that is just as detailed and accurate as it relates to the remodeling industry. It asks remodelers a few basic questions about the type of business they run, followed by a set of financial questions that can be quickly answered by referencing their company’s final 2018 income statement and balance sheet.
The information is kept completely confidential. Only the NAHB research team conducting the survey will see the responses, and only industry averages will be published.
The success of this project depends entirely on collecting accurate information from NAHB’s remodeler members. Survey participants will receive a free copy of the final report – the 2020 Remodelers’ Cost of Doing Business Study – a $149.95 value.
For information on how to receive and submit the survey, please email NAHB’s Assistant Vice President for Survey Research Rose Quint or call her at 202-266-8527.