Resource library
Every SOP, guide and template, from start to $1M
Organised by the stage your shop is at. Search it, open it, copy it into your own business. Click any document to preview it.
Titles are examples of the library structure. Tim's own documents go in at launch.
Practice P&L and balance sheet
Profit and loss · year
Example| Line | Amount |
|---|---|
| Revenue | $1,000,000 |
| Field labor, burdened | ($330,000) |
| Materials | ($150,000) |
| Subcontractors | ($40,000) |
| Gross profit | $480,000 |
| Gross margin | 48% |
| Office and admin staff | ($120,000) |
| Marketing | ($70,000) |
| Vehicles, insurance, software | ($95,000) |
| Owner salary, normalized | ($90,000) |
| Operating profit | $105,000 |
| Operating margin | 10.5% |
Balance sheet · year end
Example| Line | Amount |
|---|---|
| Cash | $85,000 |
| Accounts receivable | $42,000 |
| Vans and tools | $120,000 |
| Total assets | $247,000 |
| Credit cards and payables | $28,000 |
| Vehicle loans | $64,000 |
| Total liabilities | $92,000 |
| Owner's equity | $155,000 |
| Cash covers | 5 weeks of costs |
Practice statements are worked examples for teaching, not benchmarks.
What should your labor rate be?
Your minimum labor rate
$0
Labor cost per billable hour
Overhead per billable hour
Break-even rate
Plus target margin