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Running a residential building company is no easy feat. It’s a delicate balancing act – between keeping projects on time, planning for future growth, and making sure your finances don’t spiral out of control.
But here’s the brutal truth: most builders aren’t winning this battle. Delays, lack of long-term planning, and financial mistakes are dragging them down.
If any of this feels familiar, keep reading, because there’s a way to get ahead.
The Silent Killer: Project Delays Costing You Big Money
Did you know that 28.6% of residential building projects ran late in 2023? That’s more than a quarter of projects, and the real danger here isn’t just the delayed timelines – it’s the financial bleeding that comes with every extra day.
Imagine you’re working on a project worth $750,000. Every single day of delay costs you roughly $670.
Think about that. Every day the project stretches out, that’s money straight off your bottom line.
And too many builders don’t fully understand the damage these delays are doing. Over the course of a project, these unexpected costs can cripple your profitability.
How Poor Planning Leads to Delays and Missed Opportunities
Here’s the catch: most delays aren’t just accidents. They’re a direct result of poor planning.
It might surprise you, but over 60% of builders don’t have a three-year business plan. This leaves you reactive rather than proactive. Without a plan, you’re always on the back foot – fighting fires, managing chaos, and struggling to scale your business.
Those who do have a business plan – roughly a third of the industry – are one step ahead of you. They’ve thought through potential bottlenecks, anticipated future challenges, and mapped out how they’ll deal with them. And that means they’re delivering projects on time while growing their business more predictably.
If you don’t have a long-term strategy, you’re gambling with your future… and most builders are losing that bet.
Financial Mistakes that Are Wiping Out Your Margins
But it doesn’t end there. Even with a plan and timely project delivery, financial mismanagement is a major roadblock for many builders.
For starters, a third of builders don’t understand the difference between markup and margin. And if you’re part of the 90% of builders miscalculating your work in progress, your financial reports aren’t reflecting reality. That means you’re making decisions based on faulty numbers, leading to bad calls and shrinking profits.
With 72.3% of builders failing to achieve the industry benchmark of double-digit net margins, the problem is clear: financial mistakes are wiping out profitability before builders even realise it.
How to Break Free from the Cycle
The combination of project delays, lack of planning, and financial missteps is a deadly trio that’s holding back so many builders from real growth. But you’re not stuck in this cycle forever.
The State of Residential Construction Industry Report (SORCI) is your chance to step out of the chaos. By getting this report, you’ll gain invaluable insights into how your business compares to others in the industry.
Are you losing too much to delays? How does your financial health measure up? Where could better planning save you time, money, and headaches?
Take Control Today
The 2025 SORCI report will give you answers to these crucial questions and more. You’ll get a clear view of where you stand and – most importantly – where you can improve. When the report is released, you’ll receive a free copy, filled with industry benchmarks, key trends, and practical solutions that top builders are using to stay ahead.
Start regaining control over your projects, planning, and finances.
Your business (and your bottom line) will thank you.
