Meet Contractor+, Revolutionizing The Future of Construction

The Offer Sheet readers —

Today, we’re thrilled to be sitting down with the Founder and CEO of Contractor+, Justin Smith. 

Contractor+ is setting out to change the future of the construction industry and they’ve already made quite a dent. Their platform makes it very simple for contractors to operate every part of their business from estimates to payment facilitation and team collaboration. They’re building AI to save contractors 20+ hours a week with their estimation and project management.  

I watched their intro video (below) and came away very impressed. Check out their video on Wefunder as well.

Glad we were able to dive deeper with Justin and ask a few questions.

Let’s Go! 

Justin - welcome. How specifically does your platform simplify the life of a contractor on a day-to-day basis?

Thank you! Contractor+ simplifies a contractor’s daily operations by centralizing everything in one place. From job scheduling and time tracking to invoicing and customer relationship management, our platform streamlines every aspect of a contractor’s workflow. We provide powerful estimation tools, integration with suppliers for instant local material pricing, and automated follow-ups to ensure nothing falls through the cracks. This not only saves time but also reduces errors and enhances overall efficiency, allowing contractors to focus on delivering high-quality work.

Everyone these days is pumped about AI in any tech platform. What’s the future of AI for contractors and how are you bringing that to fruition?

AI is a game-changer for the contracting industry. At Contractor+, we’re harnessing AI to revolutionize estimation and project management. Our Estimatic AI uses data from past projects, localized material prices, labor costs and local permit data, to generate highly accurate estimates in seconds. We’re also developing AI-driven insights to help contractors make better business decisions, optimize their schedules, and even predict potential project delays. Our vision is to create an intelligent assistant that continuously learns and improves, making contractors’ lives easier and their businesses more profitable. But it’s not just about the contractors, We’re really focused on improving the entire ecosystem, everyone contractors collaborate and do business with, homeowners, property managers, REI’s, HOAs. What we’re building has a huge impact radius.

What is the Contractor+ story and how/why did you start the business?

The idea for Contractor+ is deeply rooted in my personal and professional journey. Growing up with a mother who was a contractor in South Central Ohio, I was exposed to the challenges of the industry from a young age. In 2007, I joined a real estate brokerage and property management company that was subcontracting millions of dollars a year in maintenance and unit turns. Seeing an opportunity, I started a construction business, mounted my buddy’s GC license with the firm, and brought all that business in-house.

It was during this time that I became acutely aware of the operational inefficiencies that contractors face daily. Juggling multiple tools, dealing with disorganized paperwork, and struggling to keep up with customer demands were common frustrations. To address these issues, I built a simple web-based form to eliminate duplicate data entry in the estimation process. This saved my business over 20 hours a week. The positive impact of this small innovation sparked a much bigger vision.

From that point on, there was really no looking back. I set out to build Contractor+, a platform designed to address the pain points of contractors by providing an all-in-one solution that is both powerful and easy to use. Our mission is to empower contractors to work smarter, not harder, and to streamline their operations so they can focus on what they do best.

Is the product live today or still in beta? Can a contractor use it today? What does pricing look like for a contractor?

Yes, Contractor+ is live and ready to use today! We have over 6,000 businesses using our platform every month, and over 1,000 paying customers. We offer a tiered pricing model to suit contractors of all sizes, starting with a free version that includes pretty much everything a new business could possibly need. Our PRO plan starts at $29 per user per month and offers advanced functionality, such as enhanced reporting, custom branding, a SEO-friendly website and hosted client portal, and priority support. We believe in providing value at every level, so contractors can choose the plan that best fits their needs and scale up as they grow.

What are the biggest differentiators for a contractor in using Contractor+’s platform and tools? Is it the all-in-one functionality or something else?

That’s a big one, but it goes beyond that. Contractor+ is designed with the contractor’s specific needs in mind. We offer integrations with popular tools and suppliers, robust mobile capabilities, and a user-friendly interface that minimizes the learning curve. Additionally, our focus on continuous improvement and customer feedback ensures that we are always evolving to meet the changing demands of the industry. What we have today is competitive, but what we’re building facilitates contractor collaboration in a way never before possible. I believe it just won’t make sense to do business as a contractor without Contractor+.

How does a reader of The Offer Sheet get involved with Contractor+? Can they invest? Can they use the product? Any perks for our readers?!

Yes, yes and yes! Readers can get involved in several ways. They can start using Contractor+ immediately by signing up for a free account on our website. For those interested in investing, we’ve raised over $500k on Wefunder, and our round is open through August 9th. You can go to wefunder.com/contractor and make an investment there. We’ve filed Reg CF and Reg D, so we can raise from both non-accredited and accredited investors. The minimum investment is only $100.

When you invest, you’ll get a Convertible Note, which carries 9.75% interest and converts into preferred stock at a 25% discount when we raise our Series A in 18-24 months. In addition to the preferred stock, we do have other perks such as a free account, some swag, and with a big enough investment, there’s still one board seat up for grabs.

Aside from the investment, as a special perk for The Offer Sheet readers, we’re offering an exclusive discount on our PRO and ULTIMATE plans—just use the code OFFERSHEET20 when you sign up and we’ll knock 20% off your subscription for life.

What type of growth/usage have you seen in 2024 thus far?

2024 has been an incredible year for us. We’ve seen a 162% year-over-year revenue growth, with contractors from all over the country adopting our platform. Our integration with Lowe’s has been a major driver of this growth, providing our users with seamless access to live, local material pricing and fast ordering. We’re excited to keep this momentum going as we continue to innovate and expand our offerings. Interesting enough, over 90% of our growth to date has been product-led. Less than 1 out of 5 paid users take a sales demo before upgrading. The better our product gets, the more exponential our growth curve.

What’s on the product roadmap for the rest of the year and going into 2025?

We have a lot of exciting developments on the horizon. In the coming months, we’re rolling out enhanced client and project management features, deeper integrations with third-party tools, a few surface-level AI integrations. Looking ahead to 2025, we’re focused on expanding our marketplace functionality, enabling contractors, homeowners and property managers to find and collaborate with all of their subcontractors in one place, more efficiently. We’re also exploring opportunities to integrate with more local and specialty suppliers and offer additional value-added services to our users.

What type of feedback have you received from customers thus far?

The feedback from our customers has been overwhelmingly positive. Contractors appreciate the simplicity and efficiency that Contractor+ brings to their daily operations. They’ve reported significant time savings, reduced administrative burdens, and improved customer satisfaction. Of course, we also listen closely to their suggestions and are constantly working to make our platform even better based on their input. We have a public idea board and roadmap where our users get to “upvote” the best ideas. This is how we close the feedback loop and ensure we’re building what our community really needs the most.

What makes this such a massive market opportunity?

The field service and construction industries are massive, with millions of contractors worldwide. The US has a housing deficit of over 4.5 million homes. There’s a tremendous need to improve labor productivity and collaboration. Despite this very obvious requirement, many contractors still rely on outdated methods and disconnected tools, leading to inefficiencies and lost opportunities. By providing a modern, integrated solution, Contractor+ has the potential to positively impact the way contractors operate, making it a huge market opportunity. Our platform addresses real pain points and offers tangible benefits, making it an attractive proposition for contractors of all sizes. Also, and this is super important - it’s not just about the contractors. It’s about everyone they do business with. Everyone who manages and works with contractors. From our estimates, when you consolidate field service and construction management, by 2030 we’re looking at a $60B market opportunity. We just need to capture a small percentage of that.

It seems that you have multiple revenue streams as well. Can you talk a bit more about those and why that’s so advantageous?

Absolutely. In addition to subscription fees from our premium plans, we generate revenue through Contractor+ Pay (our payment facilitation), consumer financing, facilitating marketplace transactions, and value-added services like lead generation. This diversified revenue model not only provides us with financial resilience but also allows us to offer more comprehensive solutions to our users, enhancing their overall experience and satisfaction.

For someone who potentially wants to invest in what you guys are building, what’s the long-term vision for Contractor+? Let’s say 5 years out. And what about a potential exit? IPO / Acquisition?

Our long-term vision is to become the leading platform for contractors globally, with a robust ecosystem that supports every aspect of their business. Over the next five years, we plan to expand our market reach, continually innovate with AI, and build much deeper partnerships within the industry. As for an exit strategy, we’re open to various possibilities, that could very easily eventually be an IPO or a strategic acquisition. Ultimately, our goal is to create lasting value for our users and investors while really driving the evolution of the contracting industry.

What kind of support do you offer when getting started with the platform? Or is it simple enough to understand on a self-serve basis?

We designed Contractor+ to be intuitive and easy to use, but we also offer comprehensive support and 1 on 1 live training sessions to ensure our users get the most out of the platform. Our Customer Success includes a detailed knowledge base, video tutorials, and live chat support. For those who prefer a more hands-on approach, we provide personalized onboarding sessions and dedicated account managers to help them get up and running quickly and efficiently.

If someone wants to make an investment before August 9th, and they have questions before investing, what’s the best way to go about getting in touch with you?

My calendar is open to past, current and future investors. Just ask for an introduction, or my direct calendly link is available on the Wefunder page. Schedule a time that works for you and I’d love to meet you!