Running a small trade business is hard work, and at the end of the day, profit is what keeps the lights on. If you want to boost your profit margins without burning out, these three strategies will help you get there.
Does your team spend too much time on repetitive tasks or chasing information? Every wasted minute costs money. Streamlining your operations can save time, reduce costs, and get more done without working longer hours.
Efficiency is key to profitability. Standardizing workflows and using technology can reduce overhead and boost productivity. Implementing Standard Operating Procedures (SOPs) ensures consistency and quality across your operations.
Here’s how to streamline your operations:
Standardize your processes: Create a playbook for your business. From quoting jobs to invoicing, having a consistent system makes life easier for everyone.
Use tools to automate: Scheduling software, QuickBooks, and CRMs help you manage tasks, track jobs, and stay organized with minimal effort.
Simplify your workflow: Regularly audit how your team works. If a step doesn’t add value, cut it out.
🚀 Pro tip: A smooth workflow means fewer mistakes, faster jobs, and happier customers—all boosting your bottom line.
Are you pricing your services too low? Many small trade businesses we work with undervalue themselves. They're worried that higher prices will scare off customers. But if you’re not charging enough to cover costs and make a profit, you’re working harder for less.
Here’s how to get pricing right:
Know your costs: Calculate every expense—materials, labour, tools, travel, and overhead. If you’re not covering these, you’re losing money.
Check the market: Research competitors' charges, but don’t race to the bottom. Focus on the quality and value you offer.
Communicate value: When quoting jobs, highlight your reliability, expertise, and customer service. It’s easier to justify a higher rate when clients know they’re in good hands.
💡 Remember: Customers pay for value, not just price. The right clients will pay more for better service.
Not every customer or job is worth your time. If some projects barely break even—or worse, cost you money—it’s time to rethink where you focus your energy. Instead, aim for high-value clients and profitable jobs.
Here’s how to do it:
Identify what’s working: Look at your past jobs. Which services or clients brought in the most profit? Lean into those.
Market to the right people: If property managers or builders are your most profitable clients, focus your outreach on them.
Upsell and cross-sell: Offer add-ons or complementary services to your current customers. For example, a plumber can offer annual inspections after installations.
📈 Pro tip: When you focus on high-value opportunities, you’ll increase revenue without adding stress.
Boosting your profit margins doesn’t have to mean working harder or taking on more jobs. You can grow your bottom line and build a thriving business by streamlining operations, charging fair prices, and focusing on what works best for your business.
Need help implementing these strategies? Let’s make it happen.
Get our Small Business SOPs guide and start building systems that save you time and reduce stress. Simple, practical templates you can implement right away.