LandOpt Releases Recommendations on Landscape Contractor Rates for 2023

PITTSBURGH, Dec. 12, 2022 (GLOBE NEWSWIRE) -- LandOpt, which helps independent landscape contractors nationwide increase revenue, cash flow and profitability, today released its annual recommendations on contractor rates for the coming year.

Every fall LandOpt analyzes a number of economic and industry factors and develops pricing recommendations for its members. For the first time, it is sharing them publicly as a service to the green industry.

“As with this year, 2023 will be laced with a variety of economic challenges, including labor and materials inflation that top the list,” said Jim Westover, LandOpt president. “Those will be compounded by higher interest rates and the threat of a recession.”

LandOpt says contractors should consider:

• A minimum 4.4% rate increase to offset higher operating costs
• An 8.8% hike to return margins to pre-inflationary levels
• A 10% or greater boost when possible as a hedge against unpredictable cost increases

Westover, who leads LandOpt’s financial planning services, noted that overall inflation is running above 8%, raw materials are up 10% and labor, using the annual Social Security increase as a guide, will cost close to 9% more next year.

“Raising prices in a competitive industry like ours is challenging, but the best contractors focus on their profit margins rather than simply sales volume,” he said. “Underestimating costs is devastating to the bottom line, as it is very difficult to raise prices later in the year.”

LandOpt recently presented its recommendations to members at its annual financial planning conference. During the three day event, contractors worked with LandOpt’s leadership team and coaches to develop individual financial plans for 2023. “We have a proprietary system that is used to create plans and, just as important, track performance,” Westover said. “Given next year’s uncertainties, monitoring progress will be especially important so adjustments can be made to protect margins.”

Managing inflation will be among the topics covered at LandOpt’s annual Principals Meeting and Sales Rep Boot Camp February 21-23 in Phoenix. For the first time, non-members are being invited to attend portions of the conference. Contact Alison Blobner, director of Marketing & Sales, at [email protected] for more information and to register.

About LandOptFounded in 2004, LandOpt works with independent landscape contractors across the U.S., helping them increase productivity, revenue, cash flow and profitability. The LandOpt system addresses all areas of a green industry business, including sales, marketing, operations, human resources and business management. On-site and remote coaching ensure that LandOpt contractors achieve their financial goals. To learn more visit: www.landopt.com.

A photo of Jim Westover is available upon request.

Contact:Ritter Communications, Brad Ritter[email protected]740.815.1892

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