Cost of Doing Business Study, 2012 Edition
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Cost of Doing Business Study, 2012 Edition - NAHB Business Management and Information Technology
The Cost of Doing Business Study, 2012 Edition
BuilderBooks, a Service of the National Association of Home Builders
Disclaimer
This publication provides accurate information on the subject matter covered. The publisher is selling it with the understanding that the publisher is not providing legal, accounting, or other professional service. If you need legal advice or other expert assistance, obtain the services of a qualified professional experienced in the subject matter involved. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favored status by the National Association of Home Builders. The views and opinions of the author expressed in this publication do not necessarily state or reflect those of the National Association of Home Builders, and they shall not be used to advertise or endorse a product.
©2012 by NAHB. All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying and recording or by any information storage and retrieval system without permission in writing from the publisher.
Printed in the United States of America
15 14 13 12 1 2 3 4 5
ISBN1-0: 0-86718-680-1
ISBN-13: 978-0-86718-680-2
For further information, please contact:
National Association of Home Builders
1201 15th Street, NW
Washington, DC 20005-2800
800-223-2665
www.BuilderBooks.com
Contents
List of Figures
List of Tables
Preface
Acknowledgments
Introduction
CHAPTER
1 All Survey Respondents
2 Builders with Land Costs
3 Builders without Land Costs
4 Combination Builders
5 Small-Volume Builders
6 Production Builders
7 Builder Financial Performance by Region and
Business Model
8 Operations
9 Historical Data and Trends
10 Maximize Profits and Excel in Operational Performance
11 Do-It-Yourself Business Solutions: Managing Your Own
Financial Records
12 Simplify Business Management and Increase Your Profits
Using 7 Key Numbers
APPENDIXES
I Market Base Available Construction Cost Budget
II 35 Tips to Reduce Direct Construction Costs
III Items to Negotiate with Trades and Suppliers
IV The Cost of Doing Business Survey Instrument
V Detailed Tables
Glossary
Resources
Figures
Chapter 1. All Survey Respondents
1.1 Cost of sales, expenses, and net profit (loss)
1.2 Profit (loss) margins and owner’s compensation
Chapter 2. Builders with Land Costs
2.1 Cost of sales, expenses, and net profit (loss)
2.2 Profit (loss) margins and owner’s compensation
Chapter 3. Builders without Land Costs
3.1 Cost of sales, expenses, and net profit (loss)
Chapter 4. Combination Builders
4.1 Cost of sales, expenses, and net profit (loss)
Chapter 5. Small-Volume Builders
5.1 Cost of sales, expenses, and net profit (loss)
5.2 Small-volume builders with land costs:
cost of sales, expenses, and net profit (loss)
5.3 Small-volume builders without land costs:
cost of sales, expenses, and net profit (loss)
5.4 Small-volume combination builders: cost of
sales, expenses, and net profit (loss)
Chapter 6. Production Builders
6.1 Cost of sales, expenses, and net profit (loss)
6.2 Production builders with land costs: cost of sales,
expenses, and net profit (loss)
6.3 Production combination builders: cost of sales,
expenses, and net profit (loss)
Chapter 7. Builder Financial Performance by Region and Business Model
7.1 Regional differences in average land costs and profit
(loss) margins
7.2 Profits (losses) and owner’s compensation for three
types of builders
7.3 Balance sheet for builders with land costs, without
land costs, and combination builders
Chapter 8. Operations
8.1 Main operation
8.2 Years in the Residential Construction Business
8.3 Average Number of Homes Closed in 2010
Tables
Chapter 1. All Survey Respondents
1.1 Respondents’ profile
1.2 Gross profit
1.3 Net profit
1.4 Balance sheet
1.5 Financial ratios
1.6 Top and bottom 25%
Chapter 2. Builders with Land Costs
2.1 Gross profit
2.2 Net profit
2.3 Balance sheet
2.4 Financial ratios
2.5 Top and bottom 25%
Chapter 3. Builders without Land Costs
3.1 Gross profit
3.2 Net profit
3.3 Balance sheet
3.4 Financial ratios
Chapter 4. Combination Builders
4.1 Gross profit
4.2 Net profit
4.3 Balance sheet
4.4 Financial ratio
Chapter 5. Small-Volume Builders
5.1 Gross profit
5.2 Net profit
5.3 Balance sheet
5.4 Financial ratios
5.5 Small-volume builders with land costs: gross profit
5.6 Small-volume builders with land costs: net profit
5.7 Small-volume builders with land costs: balance sheet
5.8 Small-volume builders with land costs: financial ratios
5.9 Small-volume builders without land costs: gross profit
5.10 Small-volume builders without land costs: net profit
5.11 Small-volume builders without land costs: balance sheet
5.12 Small-volume builders without land costs: financial ratios
5.13 Small-volume combination builders: gross profit
5.14 Small-volume combination builders: net profit
5.15 Small-volume combination builders: balance sheet
5.16 Small-volume combination builders: financial ratios
Chapter 6. Production Builders
6.1 Gross profit
6.2 Net profit
6.3 Balance sheet
6.4 Financial ratios
6.5 Production builders with land costs: gross profit
6.6 Production builders with land costs: net profit
6.7 Production builders with land costs: balance sheet
6.8 Production builders with land costs: financial ratios
6.9 Production combination builders: gross profit
6.10 Production combination builders: net profit
6.11 Production combination builders: balance sheet
6.12 Production combination builders: financial ratios
Chapter 9. Historical Data and Trends
9.1 Summary data from The Cost of Doing Business studies
9.2 Cost breakdown of a single-family home
9.3 Housing Giants’ average home price breakdown
9.4 Publicly traded builders
9.5 Pretax profit margins for publicly traded builders
Preface
The National Association of Home Builders (NAHB) has published 17 editions of The Cost of Doing Business Study since 1970. During those 42 years the U.S. housing market