How much does your workman’s comp cost you? What are you classifying your employees as? What are you subs classified as? Did you know that core tasks dictate classification and different classes have different rates? Someone in the field using dangerous power tools will cost you far more than someone in an office sitting at a computer. How do you figure out when you can change a classification and is all this penny pinching really worth it?
Brad Lenz and his wife Kerry own Rice’s More Than Floors which they acquired in 2016 from his parents. The store has a beautiful history dating back to 1968 where it started as a furniture and appliance business, later adding carpet. After finishing high school Brad started a tile installation business in 1998 and started adding employees in 2016. This was when the installation business and flooring store merged. The merger began a focus on technology and cloud based software to improve their systems and processes. Brad’s natural gift for problem solving has also helped find small ways to be more profitable along the way. One successful change implemented has been how employees are classified while they are working and making sure it is accurately kept track of.
Listen in to this week’s episode of the Floor Academy Podcast as Brad and I discuss how you can be more profitable with one simple change to how you classify your employees depending on the task they are working on.
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Floor Academy is a podcast hosted by Kyle Hedin that provides small business information and guidance to flooring, tile and stone contractors on how to build a successful and sustainable business. The podcast aims to help contractors move from owning a job to owning an asset, by providing insights and strategies related to management, entrepreneurship, and networking.
Floor Academy covers a range of topics related to flooring, tile and stone business management, including small business advertising, paid traffic, and organic traffic. The podcast also provides information on promotional marketing, LLC setup, simple small business management, and networking strategies.
The podcast aims to help carpet, tile, stone, hardwood, floating floor, and many more types of contractors develop a deep understanding of business management, including effective networking and entrepreneurship strategies, which are crucial to achieving long-term success in the flooring industry. By discussing various topics related to small business management, such as finance, operations, marketing, sales, human resources, branding, advertising, interviewing, taxes, company structures, and more the podcast provides valuable insights to help flooring, tile and stone contractors become successful business owners.