• Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • A&D
  • INSTALLATION
  • MARKETS
  • AWARDS
  • EDUCATION
  • BUYER'S GUIDE
  • MEDIA
  • EMAGAZINE
  • SIGN UP
cart
facebook twitter linkedin youtube
  • NEWS
  • Breaking Flooring News
  • eNewsletters
  • PRODUCTS
  • Carpet & Area Rugs
  • Hardwood
  • Installation Products
  • Installation Tools & Equipment
  • Laminate
  • Resilient
  • Specialty
  • Tile & Stone
  • MARKETS
  • Commercial
  • Residential
  • AWARDS
  • Installation Awards
  • Top Flooring Products
  • EDUCATION
  • Continuing Education
  • Webinars
  • MEDIA
  • FLOOR Podcast
  • Videos
  • TISE 2025 Videos
  • Product Spotlights
  • eBooks
  • EMAGAZINE
  • eMagazine
  • Archive Issues
  • Contact
  • Advertise
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP
Flooring InstallationCommercial FlooringResidential FlooringBusiness Insights

Floor Academy Briefing: You Are a Steward of Your Finances

By Kyle Hedin
fair pricing
June 1, 2023

I think a lot of contractors look at projects as transactional. You do this and that for a client, and then they compensate you with X amount of value in pay. You want to be able to pay your bills and hopefully have a little extra left over for later in life or some fun things now. I believe this a horrible way to conduct business. There is no value in it for the client. It is a one-sided deal where you reap all the rewards. Let’s change your thinking.

A steward is someone who looks after or manages another person’s property. You are entrusted to do what is in the best interest of the person for whom you are their steward. In the case of a flooring installer, you must look after the money you are being given for the project and use it wisely. This begins with the materials selected and runs through how you approach the labor portion.

See more articles from our June issue!

  • Carpet Tile Installation: Resilient Best Practices Apply!
  • How Self-Leveling Underlayments are Leveling Up the Flooring Game
  • Contractor Spotlight: Kevin Pope
  • Avoid Tile Cracks by Properly Cutting a Hole for Water Supply Lines
  • Editor's Letter: The Importance of Just Showing Up

What would this look like in practice? Let’s take materials for example. I personally like to sell materials. For me, there is no reason not to deal with premium materials for installations. They make the project easier and give the client better value. Skimping on the wearlayer on a luxury vinyl plank slightly may save you 25 to 50 cents a square foot, but when we are talking $10,000 plus for a project, I don’t think it is going to break the bank. The client will get a better experience from the slightly better material. It will be worth the value in the long run. It is a better way for them to spend their money.

On the other hand, let’s say you need to do some leveling of concrete. Generally, the manufacturers have some premium options that flow really well and some lower cost options that still work but may need a little more work on your end during installation to make it turn out beautifully. Can you get the same thing accomplished with a slightly different material that costs less and still get your client taken care of to industry spec? How can you spend their money in the wisest way to get the project completed on time, as close to on budget as possible and to industry standards? There are lots of things to consider.

I know some guys and gals struggle with pricing things and offer their contractor discounts straight to their clients. This is wrong. You have to make money as a business. Don’t be afraid to ask for the money but make sure you are using it to the client’s best interest. When they know you truly care for them and are looking out for them, they will question you less and appreciate you more. There will be less back and forth about why it costs X amount of dollars or if there is anything they can do to change the price. They hired a professional to take care of them, now present the options that way and handle their money that way.

On the labor side of things, you need to be a good steward as well. It means knowing why you charge what you charge. Knowing your worth and having a reason for the price. Why do you cost $3 per square foot to install something? Why is something else $10 per square foot? You can’t throw a number on something and hope it works out. You need to know your costs and what you need to make, then you can charge the client accordingly.

Along with this, you need to be fair in how you handle the labor. You can’t be writing up change orders for things that don’t qualify. If you screwed up your initial bid and missed something you need to eat that cost. That’s on you. If it was truly unforeseen, then fill out the change order. If for some reason you are doing a time and materials project, then make sure you are focusing on the project and not charging for time you are not working. How much time do many of us waste being on our phones these days? Your client should not have to pay for you to find other work or be playing on social media. Don’t waste their funds because you need to drag out a project.

Lastly, you are there to look after their property. Treat it with respect. Don’t cut across lawns and yards. Use the driveway and sidewalks. If you see something out of order, bring it up. I know of plenty of stories where guys or gals will see mold and cover it up. Termites are huge in my area, and I have seen projects where they did not get mentioned. The contractor was too worried about making sure they got a paycheck at the end of the week and didn’t want to deal with a delayed project. That’s just wrong in general.

We must look after our clients’ things as if they were our own. We need to make sure our installs are up to snuff and their homes will continue to last for years and years to come. Their families should be safe within their homes and not have to worry about mold or damaged flooring.

Stop looking out for you and put your client first. You’ll get paid regardless, but the money that comes from being a steward is much more rewarding. Your clients end up with a better product and are more likely to refer you.

This article was originally posted on www.fcimag.com.
KEYWORDS: business management flooring installers small business

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

0122 fci fab img4
With a degree in digital filmmaking and video production, Kyle Hedin is not a likely fit in the flooring industry. However, after evaluating his skillset in June of 2015, he decided flooring was a great option. With a passion for wood working as a teen, Kyle cold called 30 contractors in his area asking for a job as an apprentice. Two companies got back to him, and after a stint at both, he was out on his own by September 2017. While still very new and needing to learn, Hedin discovered an online community of installers on Facebook that helped him grow his hand skills. What he did notice was that not many of them understood the business side of things. In 2019 the Floor Academy Podcast was born to help craftsmen stop playing contractor and to become businessmen. Each episode is an interview with an expert in the flooring industry or their related field to provide insights into how to grow your business, save you time and put more money in your pocket.

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • resilient flooring

    The 7 Types of Resilient Flooring

    The resilient flooring category is comprised of many...
    Resilient Flooring
    By: Resilient Floorcovering Institute
  • QuickDrain USA’s ShowerLine linear drain

    Tips for Curbless Shower Installation Using a Linear Drain

    Consider these four tips when planning for a curbless...
    Installation How-To
    By: Darryl Jones
  • 2024 New Flooring Product Guide

    2024 New Flooring Products Guide

    We explore this year's introductions in area rugs,...
    Floor Coverings
    By: FLOOR Trends & Installation Editors
You must login or register in order to post a comment.

Report Abusive Comment

Subscribe For Free!
  • eMagazine
  • eNewsletter
  • Online Registration
  • Manage My Preferences
  • Subscription Customer Service

Shaw Flooring Network Retailers Report Post-Election Sales Surge

Shaw Flooring Network Retailers Report Post-Election Sales Surge

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Retailers Share Top Takeaways from Shaw Flooring Network Convention

What Shaw Flooring Network Dealers are Banking on for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

More Videos

Popular Stories

Schluter waterproofing system

Waterproofing Wet Areas: Three Essential Methods to Protect Your Bathroom and Shower Installation

Starnet 2025 Carlsbad CA

Future-Proofing Success: How Starnet Members Are Building Resilient Flooring Businesses

kitchen floor

Regrouting Caution for Cement Grouts


Download the Free Moisture Meters Guide

Events

June 9, 2025

NeoCon 2025

A trade show for the commercial interior design industry.

December 1, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Poll

Flooring Groups

Flooring retailers, do you belong to a buying, marketing or franchise group?
View Results Poll Archive

Products

2025 BNI Interiors Square Foot Costbook

2025 BNI Interiors Square Foot Costbook

See More Products

FLOORtalk podcasts - Listen Now

Related Articles

  • the power of words in your flooring installation business

    Floor Academy Briefing: The Terms You Use Matter

    See More
  • using data to improve your flooring installation business

    Floor Academy Briefing: What You Can't See

    See More
  • Coverings

    Floor Academy Briefing: You Must Attend Flooring Industry Events

    See More

Related Products

See More Products
  • floorfinishes.jpg

    Environmental Impact of Materials: Floor Finishes

  • radiant.jpg

    Radiant Floor Heating, Second Edition

  • 9781622700158_c-15_.png

    Flooring and Floor Covering License Examination (C-15) - QuickPass Study Tool Book with Online Interactive Software

See More Products

Events

View AllSubmit An Event
  • December 21, 2021

    Taylor Time Live: Give the Gift of Hope

    Join us live for our year-end special featuring the Floor Covering Industry Foundation (FCIF). The Christmas season is a time of hope and giving, and that's why we've asked the FCIF to join us to raise awareness about the incredible work they do.
View AllSubmit An Event
×

We’re rolling out the red carpet of flooring knowledge!

Stay in the know on the latest flooring retail trends.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletters
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Instagram
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing

search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP