#04 - Rich Jordan - Crash Course On Buying & Operating A Small Plumbing Business
May 5, 2021
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Rich Jordan, experienced in buying and operating small plumbing businesses, discusses the difficulties and pitfalls of acquiring a business, the consolidation happening in the plumbing industry, and strategies for managing a plumbing business including marketing, membership programs, and creative parking solutions.
Operating a small plumbing business can be more challenging and stressful than commonly believed.
Being a small business owner allows you to have a positive impact on the community by providing jobs and serving the local area.
Traditional marketing strategies like radio mailers and cable television ads can differentiate a plumbing business from digital-focused competitors.
Deep dives
Operational problems and the risks of operating a business
The podcast discusses the major operational problems faced by Rich Jordan in his business and highlights the serious risks associated with operating a business, including the potential for bankruptcy.
The experience of buying and growing a small team of plumbers
Rich Jordan shares his experience of buying a small plumbing company with three technicians and growing it into a team of 12. He discusses the challenges and rewards of being a small business owner.
The importance of small businesses in the community
Rich Jordan explains why he believes being a small business owner is the pinnacle of being a citizen, highlighting the importance of providing jobs, serving the community, and having a positive influence in the local area.
The challenges of acquiring and managing a plumbing business
The podcast episode discusses the difficulties and complexities involved in acquiring and managing a plumbing business. The speaker shares personal experiences and highlights the various hurdles faced, such as dealing with maintenance costs, acquiring used vehicles, and the need for growth to stay competitive in the industry.
The importance of traditional marketing and brand building
Another key point discussed in the podcast is the significance of traditional marketing and brand building in the plumbing industry. The speaker emphasizes the effectiveness of strategies like radio mailers, cable television ads, and sending branded promotional items to customers. They argue that these tactics can help differentiate a business from digital-focused competitors and foster customer loyalty.
On today's episode John and Rich talk about the struggles of buying smaller plumbing businesses, how it is harder and more stressful than most people will tell you, and the major pitfalls to watch out for when you are acquiring a business.
Enjoy!
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