Kitchen and Bath Business and Project Management, with Website

Hank Darlington has more than forty years of experience as a business owner, professional manager, and industry consultant.Ellen Cheever, CMKBD, ASID is an award-winning, internationally known kitchen and bath design authority and educator.

• introduction xvAcknowledgements xxiCHAPTER 1 Getting Started 1Do You have What it Takes? 2Evaluate Yourself 4Before You Start 8Why Many Companies Do Not Make It 10Avoid These Common Mistakes 11Getting Help from Advisors and Mentors 12Summary 12Review Questions 12CHAPTER 2 Planning Your Business 15What Type of Kitchen and Bath Business are You Going to Operate? 15Your Business Selection Criteria 17Deciding on the Right Business 17Choosing a Name for Your Business 18Stages of Company Growth 18Short- and Long-Term Planning 20How to Create a Strategic Business Plan for a Kitchen/Bath Dealer 21Researching the Market 33Preparing Your Business Plan 35Reviewing Your Plan 40Summary 40Review Questions 41CHAPTER 3 Business Start-up Issues .43Choosing the Business Legal Structure 43Other Requirements and Considerations 50Location, Location, Location 51Financing the Business 55A Look at Taxes 60Selecting Vendor Partners 61Buying Groups—Sharing Expertise 63Joining the Business Community 64Taking Advantage of Outside Help 65Summary 66Review Questions 66CHAPTER 4 Accounting and Record Keeping 67Why You Need to Keep Good Records 69Establishing Bookkeeping Procedures 70Choosing an Accounting System 70What to Keep Track of 71Accounting Software for Your Business 73Record-Keeping and Administrative Needs 74Hiring an Accountant or Bookkeeper 76Budgeting for Profit and Cash Flow 76Summary 83Review Questions 83CHAPTER 5 Financial Controls 85Understanding Financial Statements 85Chart of Accounts 86Balance Sheet 95Cash Flow Analysis 98Financial Ratio Analysis 103Gross Margin 105Ideas on How to Improve Gross Margins 108Summary 120Review Questions 120CHAPTER 6 Protecting Your Business 121Business Legal Structure 122Professional Advice 122Contractual Agreements and Personal Guarantees 122Extension of Credit to Your Customers 123Copyrighting Your Drawings 123Developing an Insurance Program 124Protecting Your Business from Theft 129Summary 130Review Questions 130CHAPTER 7 Basic Ta x Management 131Small Business Tax Management 131Special Rules for Small Businesses 132Tax Responsibilities 134Specific Substantiation Requirements for Certain Expenses 134Hints on Preventing an Audit 135Help from the IRS 135Other Taxes 136Summary 137Review Questions 137CHAPTER 8 The Basics of Human Resource (People) Management .139The Broad Picture of Human Resources 141Future Human Resource Trends 142Determining Your Needs 144Deciding on the Right Compensation System for Your Sales Team 151Examples of Compensation Plans 155Resourceful Recruiting 159Narrowing Down the List: Applications, Résumés, and Testing 162Art of Interviewing 164Making the Final Hiring Decision 167Summary 171Review Questions 171CHAPTER 9 Human Resource Management—after the Decision Is Made ..173The Orientation Period 173Training and Development 175Policy and Procedures Manual 177Creating an Employee-Friendly Work Environment 180Alternate Working Arrangements 181Keep Tabs on Company Morale 182Conduct Regular Meetings 182Measuring Employee Performance 184Developing Disciplinary Procedures 188Defining at-will Employment 189Terminating an Employee 189Termination for “Just Cause” 190Summary 208Review Questions 208CHAPTER 10 Marketing .209Marketing and Sales are not the Same 210The Big Picture: The Marketing “Wheel of Fortune” 210Make the Time 214Your Marketing Plan and Budget 215Marketing Budgets 217Knowing Who Your Customers are 222Are You Offering the Right Product/Service Package? 224Knowing Who Your Competitors are 227Business Image and Branding 230Establishing Your Brand 235Finding and Filling a Meaningful Market Position 236Why It’s Important to Have a Great Web Site 237Develop an Advertising Campaign 238Getting Your Work Published 240Social Media Marketing 244Sales and Selling 247How to Get Started 247Your Sales Team Needs a Strong Leader 254Summary of How to Build a Marketing Plan 256In Closing . . . 257Summary 258Review Questions 258CHAPTER 11 Professional and Profitable Project Management 259Introduction 259Project Management Fundamentals: From Information Gathering to Visiting the Finished Room 260Summary 265Review Questions 266CHAPTER 12 Responsibilities of the Business Owner/Manager 267The Installation Delivery System 267Job Site Dynamics: New House versus Old House 268Job Site Dynamics: Single-Family Dwelling versus Multifamily 269Installation Service Business Models 269Key Competencies of Installation Specialists 271Developing Successful Working Relationships 272Systematic Approach to Project Management 274Role of a Manfacturer’s Representative 286Importance of Job Costing 288Summary 289Review Questions 289CHAPTER 13 Responsibilities of Designer of Record 291“Win-Win” Strategy 291Designer’s Role during Project Documentation Process 292Successful Designers are Detail Oriented 293Understanding Construction Constraints 293Summary 311Review Questions 311CHAPTER 14 Managing Client Expectations and the Job Site 313Understanding “Remodeling Fever” 313Managing the Client and the Project 314Summary 331Review Questions 331CHAPTER 15 Industry Standards for Molding Order Procedures and Cabinet Installation .333Ordering Molding 333How to Install Kitchen Cabinets 336Summary 344Review Questions 344index 345