LandOpt Contractors Meet to Plot Inflation, Recession Strategies
LandOpt President Jim Westover shared strategies and led a discussion on managing inflation.
PITTSBURGH, Aug. 17, 2022 (GLOBE NEWSWIRE) -- More than 70 LandOpt contractors, management teams and industry partners met in Nashville this month to share ideas and best practices on managing inflation, supply chain and labor shortages, as well as other challenges.
LandOpt helps independent landscape contractors nationwide increase profitability, cash flow and revenue. Its annual General Manager’s Boot Camp and Operations Field Day were held in Nashville August 1-4. Hosted by LandOpt member The Greathouse Company, the theme for this year’s meetings was “Business & Barbecue.”
Education sessions were combined with visits to a variety of residential and commercial jobs, as well as evening networking and social events.
LandOpt President Jim Westover shared strategies and led a discussion on managing inflation. Westover said contractors need to closely analyze their operations to ensure they meet their profit goals for the year.
“There are a number of steps contractors can take right now that will pay off quickly,” Westover said. He shared these top three tactics:
- Evaluate pricing frequently and adjust it when contracts allow
- Build price escalators into new contracts
- Eliminate unprofitable work
Westover said that contractors rely on LandOpt’s financial planning tools and coaches to identify unprofitable jobs. He also noted that some LandOpt channel partner suppliers are offering preferred pricing to members on a number of services and products.
Maintaining profitability during a recession, should one occur, also was a popular discussion topic. However, many members said LandOpt’s financial planning tools have helped them prepare for an economic downturn.
“It may affect us, but we will navigate it,” said LaRonda White, president of Brookway Horticultural Services, Inc. “We will make good business decisions to maximize our assets and our profits, and we will learn from it.”
Some contractors, including Scott Ziebol, general manager of LandCrafters, are already preparing for a downturn. “We are working to lower our costs by being more efficient,” he said. “This way we don’t have to raise prices and we can maintain our margins.”
In addition to the Operations Field Day program, the one-day General Manager’s Boot Camp was held. Sessions included recruiting and retaining staff, training, compensation, managing inflation and growing sales.
Every year, LandOpt provides members with several in-person and virtual education and networking opportunities.
About LandOpt
Founded in 2004, LandOpt works with independent landscape contractors across the U.S., helping them increase productivity, profitability, cash flow and revenue. The LandOpt system addresses all areas of a green industry business, including sales, marketing, operations, human resources and business management. On-site and remote coaching ensures that LandOpt contractors achieve their financial goals. To learn more visit: www.landopt.com.
Contact:
Ritter Communications, Brad Ritter
[email protected]
740.815.1892
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