You Won’t Believe His Construction Business Profit Margins
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Published 2022-01-31
Vitaliy didn’t set out to start a house building business. When he was 18, he just needed a job, and started helping a friend with his construction projects to make ends meet. Once he realized he enjoyed the work (and there was good money to be made), he got licensed, took on new clients, and has been growing ever since. Today, his business, VP homes, designs and builds beautiful custom houses for customers across Northwest Indiana.
Today, we’ll hear how VP Homes has turned building houses into a thriving construction business. We’ll find out how much it costs to get started, and how someone with no experience can learn how to build a house.
Vitaliy will also share how he finds and lands customers who are ready to build a new custom home, and what his planning process is like when he embarks on a new contract. You have to build a lot of customer trust when you’re creating something at the price point of a custom home. We’ll get Vitaliy’s insights on creating a delightful customer experience.
Got a question or a project you want Vitaliy to work on? Email him at [email protected].
Want more advice on how to start your own business? Visit our blog: www.upflip.com/learn/how-to-start-a-business
Or check out our other interviews with business owners in the construction and home industry:
19-Year-Old Starts a $125K/Year Construction Business ►
• 19 Year-Old Starts a $125K/Year Const...
Handyman Makes $1,000 Per Day (See How He’s Grown His Business) ►
• Handyman Makes $1,000 Per Day (See Ho...
Resource:
www.upflip.com/academy - Launch and scale your business with our expert-led Academy
Timestamps:
0:00 Intro
0:22 Becoming a Home Builder
1:35 How To Build Your First Home
2:42 From $80 To $1.2 Million In Revenue
3:47 Creating a Unique Style
4:38 The Most Challenging Obstacle
5:52 How To Save on Aesthetic Costs
7:00 The Key To Maximizing Your Profits
8:37 Incentives To Give Employees
10:01 Showcasing VP’s Second Project
10:44 The Key To Making Millions
11:59 How To Finance Your Builds
13:40 Tricks To High-Profit Margins
15:06 Here’s The Thing About Presales…
16:19 Crucial Tools
17:03 This Skill Makes or Breaks Your Business
18:00 Relationships That Help You
19:13 Hiring Your First Employee
20:27 From 3,500sq To A 5,000sq Home
21:04 Unique Features To Offer
23:53 Tips for Managing Leads
25:29 Look Out for These Hidden Expenses
26:45 Giving Exceptional Customer Experience
27:56 The Best and Worst Part
29:13 Blitz Time with VP!
31:49 Adjusting To Code Changes
33:09 The Key To Building Relationships
34:31 A Unique Type of Advertising
35:46 Planning an Exit Strategy
37:00 How To Avoid Unhappy Customers
38:24 When It’s Time To Stop Accepting Jobs
39:09 Advice To Your Younger Self
40:19 Don’t Make This Same Mistake
41:38 A Unique Feature About This House
42:52 The Key To Finding More Value
44:16 Best Business Book VP’s Ever Read
#construction #constructionbusiness #buildingahouse
All Comments (21)
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Check out UpFlip programs taught by world-class entrepreneurs: www.upflip.com/academy
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I tell my guys we are not in the construction business, we are in the relationship business. Customers, suppliers, tradespeople and the guys sweeping the floors need to be treated with respect.
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This guy is so humbled and cool, he achieved so much and you can’t tell by hearing and watching him speak about the success they achieved as a team 👏🏻
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I freaking love all the content on this channel. As someone who is business-minded, this channel has everything I need.
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Love this channel , I’ve got 19 yrs in as a full time fire fighter , I started a landscape company from nothing at 18 years old, and we are still running strong. 24 yrs later. love this guys story !!!
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He embraced his constraints. It made him creative and resourceful. Guys, even when you have a $50,000 budget, do it with $5,000. Force yourself to be resourceful and creative. When it comes to presales... Presales work online with a nice funnel. When it comes to face2face talk, you can easily SELL more than you can deliver and kick yourself in balls. Never, ever plan anything but possible solutions to problems. Planning gives you a fake feeling of control over things you can't control. Jessica bought a ticket to Hawaii, planned everything, spent her last $ on the trip... Her flight was canceled, #no refund. You can't control what will happen in the future. You can be ready for what might happen. Planning is losing. Just my two cents. Very informative video as always. Your questions are always on point. I wonder how the landscape, environmental architecture, and similar niches are doing it from the ground up. It would be amazing to enter the designer's world for a video.
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This is the type of video i've been looking for. It has all the right details and you asked the right questions. Thank you.
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Vitaly is THE MAN !! The way he was talking about family life, his personal values, profit sharing plan with employees, etc etc ... just amazing !! A role-model for today's businessmen !
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Love your content man! My dads been working in interior remodels for about 20 years and construction in general for over 40. I’ve been working construction for about 4 years, I’m 24 now. The last 3-4 months we made more money together then we did the last 6 months before then! Your content really has been teaching me a lot! Thank you!
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really great interview!!!!!!!!!!
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He says 60% profit margin but I'm assuming he's not calculating overhead into that because I've never heard of those kinds of margins before in residential construction. Custom home builders in Canada are usually cost plus 10-18%. Some really high-end ones can do 20-25% but those are extremely rare.
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I went on a binge looking for your channel again , so much value
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Vitaliy seems a great guy, a real inspiring story. Really like his approach to paying and motivating his team. The part about family is an important one you dont hear enough on shows like this. Great episode guys...
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This was a very humbling interview! LOVED every minute of it! 👏
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I love this builder's story. I love that house he made!!! Keep giving us content!! I love this channel and I'm always sharing to motivate others.
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Man this guy really has some nice design ideas in all of his buildings, specially in the interiors
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Best UpFlip I've watched thus far ... props to Vitaliy ... seems to be driven and motivated for all the right reasons, the true measure of success.
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Well thought out video. Pls more about real estate, appreciate the great content 🐐
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Well done guys! And well done Vitali on great work and great priorities, all the best!
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Yo, this is the best content, I have seen in a while. Crazy great info on these stories.
