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Ideas to increase pool build profitability By Veda Dante
ABOVE: Adding elements to both the pool and surrounds can help profitability by elevating pool projects, especially with features that are not labour intensive. Image: Shadowspec BELOW: Proper contract management can lead to higher profitability overall for the pool builder
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rofit is undeniably the aim of any business, serving as the driving force behind both new ventures and established enterprises. However, achieving sustained profitability requires more than just ambition – it demands strategic planning, innovation and adaptability. Whether you’re a seasoned pool builder or just starting in the industry, the key to ensuring success lies in building a solid foundation for profitability and long-term success. Pool builders can increase their profit margins by improving operational efficiency, enhancing the value of their services, and strategically managing costs. Increasing profit margins is crucial for sustaining growth, staying competitive and ensuring long-term financial stability in a competitive industry.
Optimising contracts
SPASA chief policy officer Spiros Dassakis emphasises that efficiently managing contracts throughout the entire construction process is key for pool builders to boost profit margins. He believes optimising the contract process – beyond just signing on the dotted line – helps prevent cost overruns, minimise delays, mitigate risks, improve cash flow, enhance client satisfaction and increase the builder’s profitability. “The management of the contract is not only the biggest risk but also the greatest asset for any pool builder,” says Dassakis. “From my experience, I’ve seen pool builders improve their margins by 15 per cent to 20 per cent simply by managing their contracts properly. This includes monitoring interest fees for late payments, issuing extensions of time, properly filling out variation forms and serving notices to the customer.” SPASA’s contracts have been legally refined over four years, shaped by feedback from members and industry experts during a national roadshow. Dassakis proudly asserts there is no better contract. He explains that multiple iterations were developed based on feedback, alongside advice from a top-tier
“The management of the contract is not only the biggest risk but also the greatest asset for any pool builder.” 26
SPLASH!
October/November 2024