How it started
Kris has been in the construction business since he was 18. He started his own company after gaining experience as a journeyman carpenter. Initially, he took on small handyman jobs and gradually built his reputation through referrals, leading to bigger projects over time, from installing screen doors to building houses and additions. He says, "I was born and raised in the industry. So if I was allowed to, I could have been in construction when I was 13 years old, but you know, legally you have to wait till you're 18.
How it's going
Kris's business focuses on remodeling and renovations. He typically undertakes one large project at a time, which can last from 4 to 12 months, and fills in downtime with smaller projects. His favorite part of the job is the end result and the client's satisfaction, providing something "above and beyond what they imagined." His slogan is "making dreams a reality." The biggest challenges he faces are time constraints due to material availability, weather conditions, and on-the-job injuries, which are factors outside his control. He advises that a successful construction company can only excel in two out of three major components: quality of work, timeline, and cost efficiency. He warns against trying to achieve all three, stating, "It just doesn't exist. It's not possible. A business will fail if they try to accomplish and give somebody all three of those." He emphasizes the importance of reliable workers who are on time and don't make excuses. He has seen companies fail by trying to scale too quickly or by using money from new projects to pay old bills, leading to cash flow problems. He maintains communication with subcontractors to keep them involved in projects and ensure their availability.
Why Revenued
Kris heard about Revenued a couple of years ago through an offer that was brought to his attention. He uses lines of credit, including the Revenued card, for bulk material purchases to take advantage of discounts. This helps bridge the gap when clients don't pay upfront, ensuring he can get the best prices possible. He prioritizes lines of credit with longer repayment terms to reduce risk and stress, especially if client payments are delayed. He doesn't use the Revenued card very often because he has multiple lines of credit and chooses the one that "makes the most sense for the situation." He suggests that Revenued offer more flexible payback terms and amounts to be more competitive with other lenders like Cabbage or Fundbox, which would make him use Revenued more often.
About the Industry
The construction industry is a cornerstone of the U.S. economy, driving residential, commercial, and remodeling projects across communities. Contractors often face challenges like material shortages, fluctuating costs, weather delays, and client payment schedules, making access to reliable business funding essential. Lines of credit and flexible financing options allow construction businesses to purchase materials in bulk, cover labor costs, and keep projects on schedule. With strong demand for remodeling and renovation services, construction companies that maintain quality workmanship and financial stability are well-positioned to thrive in a competitive market.
