Kitchen and Bath Business and Project Management E-Book

• Herausgeber: John Wiley & Sons
• Kategorie: Geisteswissenschaft
• Serie: NKBA Professional Resource Library
• Sprache: Englisch

Seitenzahl: 632

Veröffentlichungsjahr: 2013

Beschreibung

Kitchen & Bath Business Project Management, Second Edition is a comprehensive guide to professional practice for the kitchen and bath professional. This one-stop reference is based on the real-world experiences of kitchen and bath experts to ensure success in business and professional life. Kitchen & Bath Business Project Management, Second Edition is illustrated in full color throughout with improved graphic design so that visual learners can easily absorb both technical and professional practice information. This book also includes access to a companion website with easily customizable forms for increased efficiency, and an Instructor's Manual.

Leseprobe

Contents

Cover

Title Page

Copyright Page

Sponsor

About the National Kitchen & Bath Association

Introduction

THE GOAL OF THIS BOOK

ABOUT THE AUTHORS

ABOUT THE BOOK

Acknowledgements

1 Getting Started

DO YOU HAVE WHAT IT TAKES?

EVALUATE YOURSELF

BEFORE YOU START

WHY MANY COMPANIES DO NOT MAKE IT

AVOID THESE COMMON MISTAKES

GETTING HELP FROM ADVISORS AND MENTORS

SUMMARY

REVIEW QUESTIONS

2 Planning Your Business

WHAT TYPE OF KITCHEN AND BATH BUSINESS ARE YOU GOING TO OPERATE?

YOUR BUSINESS SELECTION CRITERIA

DECIDING ON THE RIGHT BUSINESS

CHOOSING A NAME FOR YOUR BUSINESS

STAGES OF COMPANY GROWTH

SHORT- AND LONG-TERM PLANNING

HOW TO CREATE A STRATEGIC BUSINESS PLAN FOR A KITCHEN/BATH DEALER

RESEARCHING THE MARKET

PREPARING YOUR BUSINESS PLAN

REVIEWING YOUR PLAN

SUMMARY

REVIEW QUESTIONS

3 Business Start-up Issues

CHOOSING THE BUSINESS LEGAL STRUCTURE

OTHER REQUIREMENTS AND CONSIDERATIONS

LOCATION, LOCATION, LOCATION

FINANCING THE BUSINESS

A LOOK AT TAXES

SELECTING VENDOR PARTNERS

BUYING GROUPS—SHARING EXPERTISE

JOINING THE BUSINESS COMMUNITY

TAKING ADVANTAGE OF OUTSIDE HELP

SUMMARY

REVIEW QUESTIONS

4 Accounting and Record Keeping

WHY YOU NEED TO KEEP GOOD RECORDS

ESTABLISHING BOOKKEEPING PROCEDURES

CHOOSING AN ACCOUNTING SYSTEM

WHAT TO KEEP TRACK OF

ACCOUNTING SOFTWARE FOR YOUR BUSINESS

RECORD-KEEPING AND ADMINISTRATIVE NEEDS

HIRING AN ACCOUNTANT OR BOOKKEEPER

BUDGETING FOR PROFIT AND CASH FLOW

SUMMARY

REVIEW QUESTIONS

5 Financial Controls

UNDERSTANDING FINANCIAL STATEMENTS

CHART OF ACCOUNTS

BALANCE SHEET

CASH FLOW ANALYSIS

FINANCIAL RATIO ANALYSIS

GROSS MARGIN

IDEAS ON HOW TO IMPROVE GROSS MARGINS

SUMMARY

REVIEW QUESTIONS

6 Protecting Your Business

BUSINESS LEGAL STRUCTURE

PROFESSIONAL ADVICE

CONTRACTUAL AGREEMENTS AND PERSONAL GUARANTEES

EXTENSION OF CREDIT TO YOUR CUSTOMERS

COPYRIGHTING YOUR DRAWINGS

DEVELOPING AN INSURANCE PROGRAM

PROTECTING YOUR BUSINESS FROM THEFT

SUMMARY

REVIEW QUESTIONS

7 Basic Tax Management

SMALL BUSINESS TAX MANAGEMENT

SPECIAL RULES FOR SMALL BUSINESSES

TAX RESPONSIBILITIES

SPECIFIC SUBSTANTIATION REQUIREMENTS FOR CERTAIN EXPENSES

HINTS ON PREVENTING AN AUDIT

HELP FROM THE IRS

OTHER TAXES

SUMMARY

REVIEW QUESTIONS

8 The Basics of Human Resource (People) Management

THE BROAD PICTURE OF HUMAN RESOURCES

FUTURE HUMAN RESOURCE TRENDS

DETERMINING YOUR NEEDS

DECIDING ON THE RIGHT COMPENSATION SYSTEM FOR YOUR SALES TEAM

EXAMPLES OF COMPENSATION PLANS

RESOURCEFUL RECRUITING

NARROWING DOWN THE LIST: APPLICATIONS, RÉSUMéS, AND TESTING

ART OF INTERVIEWING

MAKING THE FINAL HIRING DECISION

SUMMARY

REVIEW QUESTIONS

9 Human Resource Management—After the Decision Is Made

THE ORIENTATION PERIOD

TRAINING AND DEVELOPMENT

POLICY AND PROCEDURES MANUAL

CREATING AN EMPLOYEE-FRIENDLY WORK ENVIRONMENT

ALTERNATE WORKING ARRANGEMENTS

KEEP TABS ON COMPANY MORALE

CONDUCT REGULAR MEETINGS

MEASURING EMPLOYEE PERFORMANCE

DEVELOPING DISCIPLINARY PROCEDURES

DEFINING AT-WILL EMPLOYMENT

TERMINATING AN EMPLOYEE

TERMINATION FOR “JUST CAUSE”

SUMMARY

REVIEW QUESTIONS

10 Marketing

MARKETING AND SALES ARE NOT THE SAME

THE BIG PICTURE: THE MARKETING “WHEEL OF FORTUNE”

MAKE THE TIME

YOUR MARKETING PLAN AND BUDGET

MARKETING BUDGETS

KNOWING WHO YOUR CUSTOMERS ARE

ARE YOU OFFERING THE RIGHT PRODUCT/SERVICE PACKAGE?

KNOWING WHO YOUR COMPETITORS ARE

BUSINESS IMAGE AND BRANDING

ESTABLISHING YOUR BRAND

FINDING AND FILLING A MEANINGFUL MARKET POSITION

WHY IT’S IMPORTANT TO HAVE A GREAT WEB SITE

DEVELOP AN ADVERTISING CAMPAIGN

GETTING YOUR WORK PUBLISHED

SOCIAL MEDIA MARKETING

SALES AND SELLING

HOW TO GET STARTED

YOUR SALES TEAM NEEDS A STRONG LEADER

SUMMARY OF HOW TO BUILD A MARKETING PLAN

IN CLOSING…

SUMMARY

REVIEW QUESTIONS

11 Professional and Profitable Project Management

INTRODUCTION

PROJECT MANAGEMENT FUNDAMENTALS: FROM INFORMATION GATHERING TO VISITING THE FINISHED ROOM

SUMMARY

REVIEW QUESTIONS

12 Responsibilities of the Business Owner/Manager

THE INSTALLATION DELIVERY SYSTEM

JOB SITE DYNAMICS: NEW HOUSE VERSUS OLD HOUSE

JOB SITE DYNAMICS: SINGLE-FAMILY DWELLING VERSUS MULTIFAMILY

INSTALLATION SERVICE BUSINESS MODELS

KEY COMPETENCIES OF INSTALLATION SPECIALISTS

DEVELOPING SUCCESSFUL WORKING RELATIONSHIPS

SYSTEMATIC APPROACH TO PROJECT MANAGEMENT

ROLE OF A MANFACTURER’S REPRESENTATIVE

IMPORTANCE OF JOB COSTING

SUMMARY

REVIEW QUESTIONS

13 Responsibilities of Designer of Record

“WIN-WIN” STRATEGY

DESIGNER’S ROLE DURING PROJECT DOCUMENTATION PROCESS

SUCCESSFUL DESIGNERS ARE DETAIL ORIENTED

UNDERSTANDING CONSTRUCTION CONSTRAINTS

SUMMARY

REVIEW QUESTIONS

14 Managing Client Expectations and the Job Site

UNDERSTANDING “REMODELING FEVER”

MANAGING THE CLIENT AND THE PROJECT

SUMMARY

REVIEW QUESTIONS

15 Industry Standards for Molding Order Procedures and Cabinet Installation

ORDERING MOLDING

HOW TO INSTALL KITCHEN CABINETS

SUMMARY

REVIEW QUESTIONS

Index

Cross-Merchandising Advertisements

Cover image: (left) © iStockphoto.com/sturti      (right) © iStockphoto.com/asiseeitCover design: Anne Michele Abbott

This book is printed on acid-free paper.

National Kitchen & Bath Association 687 Willow Grove Street Hackettstown, NJ 07840 Phone: 800-THE-NKBA (800-843-6522) Fax: [phone] Website: NKBA.org

Copyright © 2014 National Kitchen and Bath Association. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data

Darlington, Hank. Kitchen & bath business and project management / Hank Darlington, Ellen Cheever, CMKBD, ASID. – Second Edition.  pages cm Includes index. Includes access to companion website. ISBN 978-1-118-43912-8 (cloth); 978-1-118-73239-7 (ebk.); 978-111-8-73632-6 (ebk.) 1. Kitchens–Design and construction. 2. Kitchens–Planning. 3. Bathrooms–Design and construction.  4. Bathrooms–Planning. 5. Interior decoration firms–Management. 6. Contractors’ operations– Management. I. Cheever, Ellen. II. Title. III. Title: Kitchen and bath business and project management.  NK2116.2.D373 2013 690′.42068–dc23

2013016215

Sponsor

The National Kitchen and Bath Association gratefully acknowledges Delta Faucet Company for its generous contribution toward the development of this second edition, which combines the newly revised Kitchen and Bath Business Management and Kitchen and Bath Project Management.

GOLD SPONSOR

DELTA FAUCET COMPANY

www.deltafaucets.com

About the National Kitchen & Bath Association

The National Kitchen & Bath Association (NKBA) is the only non-profit trade association dedicated exclusively to the kitchen and bath industry and is the leading source of information and education for professionals in the field. Now 50 years after its inception, the NKBA has a membership of more than 50, 000 and is the proud owner of the Kitchen & Bath Industry Show (KBIS).

The NKBA’s mission is to enhance member success and excellence, promote professionalism and ethical business practices, and provide leadership and direction for the kitchen and bath industry worldwide. The NKBA has pioneered innovative industry research, developed effective business management tools, and set groundbreaking design standards for safe, functional, and comfortable kitchens and baths.

Recognized as the kitchen and bath industry’s leader in learning and professional development, the NKBA offers professionals of all levels of experience essential reference materials, conferences, virtual learning opportunities, marketing assistance, design competitions, consumer referrals, internships, and opportunities to serve in leadership positions.

The NKBA’s internationally recognized certification program provides professionals the opportunity to demonstrate knowledge and excellence as Associate Kitchen & Bath Designer (AKBD), Certified Kitchen Designer (CKD), Certified Bath Designer (CBD), Certified Master Kitchen & Bath Designer (CMKBD) and Certified Kitchen & Bath Professional (CKBP).

For students entering the industry, the NKBA offers Accredited and Supported Programs, which provide NKBA-approved curriculum at more than 50 learning institutions throughout the United States and Canada.

For consumers, the NKBA showcases award winning designs and provides information on remodeling, green design, safety, and more at NKBA.org. The NKBA Pro Search tool helps consumers locate kitchen and bath professionals in their area. The NKBA offers membership in 11 different industry segments: dealers, designers, manufacturers and suppliers, multi-branch retailers and home centers, decorative plumbing and hardware, manufacturer’s representatives, builders and remodelers, installers, fabricators, cabinet shops, and distributors.

For more information, visit www.NKBA.org.

Introduction

THE GOAL OF THIS BOOK

It is a career dream of many professionals in the kitchen and bath industry to own their own firm. More experienced business owners are on a continuous quest to learn how to improve their earnings and overall performance. To help you reach these goals, Kitchen & Bath Business and ProjectManagement has been written by Hank Darlington, Darlington Consulting, and Ellen Cheever, CMKBD, ASID, Ellen Cheever Associates, in collaboration with respected professionals in the kitchen and bath industry.

This volume offers you a step-by-step management tool to be used to convert the novice business owner’s entrepreneurial ideas into a successful business venture. It also provides many ideas for business improvement for the more seasoned business owner and manager.

Learning Objectives of the Book

Describe good business management practices vital to operating a successful business.Identify the three main areas of business management.Recognize the importance for Kitchen and Bath businesses owners and managers to build a team of experts.Relate how learning to be a good business manager can be easier than becoming a really good Certified Kitchen or Bath Designer.

This book is not intended to take the place of a professional management team: business attorney, accountant, financial planner. Rather, the guidelines and insights within have been gathered and organized with the aim of sharing winning strategies for business management from people recognized as leaders in the field.

ABOUT THE AUTHORS

The coauthors provide a balanced view of proper guidelines to manage a business.

Hank Darlington has over 40 years of experience as a business owner, professional manager, industry consultant, author, and speaker. He founded, owned, and managed a multi-branch kitchen and bath showroom on the West Coast for much of his career. Ellen Cheever is recognized as a leading authority and has over 35 years as a design and marketing consultant in the industry.

Hank Darlington, Darlington Consulting

Hank Darlington has been active in the kitchen and bath industry for the majority of his career. Hank’s experience stretches from a large wholesale plumbing distributor organization to an upscale, full-service (one-stop shopping) kitchen and bath showroom with three locations in Northern California.

Hank served as past president of the NKBA Northern California Chapter, served on the NKBA’s Board of Directors, and was a founding member of the Decorative Plumbing and Hardware Council. Hank was recognized for his industry contributions when he was inducted into the NKBA Hall of Fame in 2004. Hank was made a Fellow by the Decorative Plumbing and Hardware Association in 2004 for his contributions to that industry.

As the author of four industry textbooks, Hank continues to contribute by presenting seminars for the National Kitchen & Bath Association, writing monthly articles for two national trade publications, and serving as a consultant to manufacturers, distributors, and dealerships.

Ellen Cheever, CMKBD, ASID, Ellen Cheever & Associates

Ellen Cheever is an author and marketing specialist whose practical, yet innovative design solutions and professional writing and teaching helped shape the North American kitchen industry over the past 40 years. When working on residential kitchen projects, she collaborates with noted kitchen specialists throughout the United States, combining her design talents with the product specification expertise and skillful project management of trusted professionals within the client’s community. In addition to her residential practice, the firm Ellen Cheever & Associates designs retail showroom spaces, major trade show exhibits, and editorial sets.

A 1992 inductee of the National Kitchen & Bath Hall of Fame, Ellen was recognized as the Designer of Distinction for 2002 by the American Society of Interior Designers, Pennsylvania East Chapter, and won first place honors in the 2004 KWC Kitchen Design Competition.

In addition to these respected professionals, this volume quotes topical articles from major industry trade publications: Kitchen & Bath Design News, Kitchen & Bath Business, Qualified Remodeler, and Remodeling. These sources understand our industry.

As the author of more than fifteen books and technical manuals covering the details of kitchen and bathroom planning standards, Ellen continues to write and speak about emerging design trends, ergonomic planning standards, and winning business strategies within the kitchen design industry.

In addition to Hank and Ellen, the following experienced individuals have made key contributions to the content based on their areas of recognized expertise within the kitchen and bath industry:

Leonard V. Casey—Strategy AccelerationJames W. Krengel, CMKBD—Kitchens by Krengel

Leonard V. Casey, MBA, Strategic Acceleration

Educator, corporate executive, entrepreneur, and global leader have all been used to describe Len Casey. After receiving his MBA and teaching at Florida Atlantic University, Len started a twenty-year career with the DuPont Company in 1972. While at DuPont, Len was responsible for such product groups as Teflon/Silverstone, Automotive and Corian. Because of these contributions at DuPont, he was awarded the DuPont Corporate Marketing Excellence award for both the Teflon and Corian businesses.

In the early 1990s, Len and a team of industry leaders purchased a respected upscale cabinet company and, for the next 8 years, he applied his business talent to growing the company into an industry leader. Today, he serves on the boards of several companies, using his experience of over thirty years to advise an array of domestic and international firms and supports a number of non-profit organizations to reach their organizational goals.

James W. Krengel, CMKBD, Kitchens by Krengel

Jim Krengel, CMKBD, began his career in 1966 at Kitchens by Krengel in St. Paul, Minnesota. Today, that design studio is in its third generation of ownership and Jim spends the majority of his time sharing his expertise through professional seminars and via frequent contributions to industry publications.

During Jim’s design career, he won numerous design awards, served as the Design Director of Maytag Kitchen Idea Center, and was a consultant to Wilsonart International as well as several other manufacturers. Jim helped form the Minnesota Chapter of the NKBA and was its National President from 1989–1990. The industry recognized his contribution by inducting him into the NKBA Hall of Fame in 2003.

Jim is the author of two design books: Kitchens: Lifestyle and Design and Bathrooms. He served on the Advisory Board for Kasmar publications, and in collaboration with this respected book publisher, developed the first bathroom and kitchen CDs, each containing over 250 pages of ideas, articles, and portfolios.

ABOUT THE BOOK

This volume is written for business owners, sales managers/directors, and branch managers of kitchen and bath design firms (dealerships) which operate with a showroom, sell cabinets and counters, and provide installation services—either with their own crew or through a network of qualified subcontractors. Where appropriate, comments are made for the independent kitchen designer whose business model does not include representing products or offering installation, but who can still benefit from the business information included.

This volume is particularly valuable to emerging business leaders—great salespeople who now are managing a sales force, for example, as well as individuals with experience in the kitchen industry who may have a career opportunity to manage a branch operation or a second showroom location for their organization. The material is also useful for companies in the midst of a succession plan with new family members who will become owners “learning the ropes” from the current company officers.

We have selected this business model focus because a dealership operating from a showroom is the most typical business model in the kitchen and bath industry, and many people “grow” into business management positions.

It is important to note that this book is a reference book—including material covering all aspects of business management for a new entrepreneur.

It is also valuable to existing companies who are interested in “refreshing” their business practices. Successful firms can benefit by evaluating their current business practices with an eye towards a better organized firm with a renewed focus on profitable projects.

Successful Business Are Led By Balanced Management

Lastly, this entire book is based on the premise that every business is made up of three parts: financial management, human resource management, and marketing management.

The authors understand that there are always two parts of each business for the owner: those things one loves to do, and those things one must do. Most kitchen and bathroom firm owners are fairly strong in the marketing segment (design, sales, advertising, promotions), but are weak in—or, too often, reluctant to invest the time and effort to improve upon—financial management (budgets, financial statements, cash flow) and the human resource (people management) part of the business.

Studying high-profit businesses affirms that balance in all three areas is needed for success.

Business management forms and checklists appear throughout this book. The customizable version of “Forms for Managing People, Profits and Projects” is available online at wiley.com. The forms and checklists can be printed or integrated into your electronic management system.

It is important to start a discussion of business management by recognizing the reason you are considering investing in your own business or have invested in an existing business: you are expecting a reasonable financial return on your investment “ROI”. Many individuals in our industry work hard, develop excellent reputations and a strong repeat or referral business but, at the end of the day, have very little return to show on the investment they have made in their business.

Although conservative rate of returns vary with shifts in the economic marketplace—quite simply, you should make a before-tax profit on the money you have invested in your business equal to or greater than conservative returns found in the financial marketplace. Do not be satisfied with a 3% to 5% profit before taxes on your business endeavors—think about the money you’ve invested in your company and realize that this sum could be invested by your financial planner to reap a specific return for you. Demand of yourself that you spend the time to learn to manage your existing business better, or begin a new business venture managing your operations to enjoy an acceptable rate of return—and an acceptable “ROI.”

Make an Appointment with Yourself

To plan properly or to initiate changes in your current business practices, begin by setting aside time to study this material. Consider making an appointment with yourself to work on your weak areas.

A chart detailing the steps that even the simplest new construction/remodeling projects go through follows. Each step involves people management, financial management, and marketing management skills.

Think about your own business and identify areas where you think you could improve. Following this self-evaluation, start the book at the beginning and, much like a novel, read it to the end.

For sales directors/managers or branch managers, consider “The Kitchen/Bath Project Process” detailed above. As you manage a sales team or a branch of your company, look for ways that you can increase the efficiency of the organization in specific areas, or for improvements you might suggest to the business owner. Bring a fresh viewpoint and a new skill set to your management team. Use your experiences to review the process that currently typifies your organization and set time aside with the company’s principals or your manager to work on efficiencies of scale.

The Kitchen/Bath Project Process

Common Business Traits of High Profit Firm

Have solid growth on an annual basisReview and use monthly P&L statements as a management toolOwners spend time to learn to be better people managersControl their product mix and customers to avoid profit erosion

1. Rely more on cabinets as a percentage of the total sale

2. Select products that reflect your strategic business plan

3. Charge design fee retainers

Sell cabinets installed: view project as a package, not partsHave a higher median annual sales volume and a higher average job selling priceAre paid more quicklyComplete job cost reviews in a timely manner on all projectsAchieve superior personnel productivity

1. Base commissions on gross profit and volume

2. Use computers to aid design

3. Offer company benefits with employee contribution

Achieve higher gross marginsEffectively manage overhead expenses

Acknowledgements

The NKBA gratefully acknowledges the following peer reviewers of this book:

Mark Goldman, AKBD

David Newton, CMKBD

1

Getting Started

Millions of people start their own businesses every year. Possibly you’ve already started yours, or you’re giving it serious thought. Whatever the case, many skeptics may try to scare you with the statistics on how many new businesses fail every year, how hard you’ll have to work, and how long it will take before you show a profit. But, if everyone listened to the skeptics… John Michael Kohler would not have started Kohler Company, Paul Wellborn would not have expanded Wellborn Cabinet, Inc., and the seven Jacuzzi brothers would not have started the now multiproduct Jacuzzi, Inc.

Learning Objective 1: Compare the pros and cons of owning your own business.

Learning Objective 2: Compare your personal leadership traits to the traits and characteristics listed in the chapter.

Learning Objective 3: Review the entrepreneurial innovation assessment and define your personal strengths and weaknesses.

Learning Objective 4: Recognize the characteristics of failed and successful entrepreneurs.

Learning Objective 5: Analyze common mistakes to avoid as an owner/manager of a business.

Pros and Cons of Owning Your Own Business

Pros

You are your own boss. The sky’s the limit.You can prove yourself.You will have a hand in all aspects of the business.You will be able to take pride in promoting and marketing your own business.You will be in control.You will have creative freedom.The more the company makes, the more you make.You cannot be fired, laid off, or forced to retire.You will have the ultimate satisfaction of knowing you started and ran a successful business.

Cons

There is no guaranteed paycheck.It’s all on your shoulders.You cannot please everyone.You will work harder and longer than ever before.You will assume the risk of investment.There will be constant stress and pressure.You will have to adhere to all the laws and regulations.

DO YOU HAVE WHAT IT TAKES?

It All Starts with an Idea

At some point it hits you that, like so many others, you could own and run your own business. You want to step out on your own and take control of your work and financial future. You are confident that you have what it takes to buck the odds and succeed. You also know that owning your own business comes with risks.

Mrs. Fields Cookies

1/4 cup Passion

1/4 cup Perfection

1/4 cup Perseverance

1/4 cup People

Business Success

Debbi Fields Rose, the founder and owner of Mrs. Fields Cookies, had her recipe for success called “the 4 P’s.” Mrs. Fields defines each “P” this way:

Passion. You have to absolutely and passionately love what you do. In your case, you will have to love designing and selling kitchen and bath (K&B) projects. Never go into business if your first priority is to make money. Money will be the by-product of doing something you love and doing it well.Perfection. You must constantly strive for perfection because, for your business to succeed and have staying power, you have to do it better than anyone else. Stay focused on constantly improving while stamping out mediocrity.