Formula
Renewal rate = eligible contracts renewed / eligible contracts x 100
Inputs
- Eligible Contracts and Renewed Contracts: use the current value for the same job, route, customer cohort, asset, or reporting period.
How to use it
- Define the unit and reporting period for every input.
- Use reviewed source records rather than memory.
- Calculate a base result and retain the entered assumptions.
- Run a conservative and an optimistic scenario without changing definitions.
- Compare the result with actual performance and update future assumptions.
Limitation
Define eligibility, period, cancellations, mergers, and scope changes consistently.
Worked-example method
Create a test row using round numbers, calculate it by hand, and verify the implementation returns the same result. Then replace the example with the operator's own reviewed inputs. Do not present an example value as a market price, benchmark, guarantee, or recommendation.
Quality checks
| Check | Question |
|---|---|
| Units | Are dollars, hours, miles, square feet, percentages, and periods consistent? |
| Source | Can each input be traced to a current record? |
| Definition | Would another manager calculate the metric the same way? |
| Sensitivity | Which assumption changes the result most? |
| Decision | What action, if any, is justified by the result? |
Where LawnVex fits
Use LawnVex records for the relevant property, quote, route, job, invoice, or payment inputs when those records are available. The formula remains a planning model; the operator owns the assumptions and decision.