Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast #120 - Rich Jordan and Knowing What Your Real Business Is In Home Service
In this episode of 'Owned and Operated,' host John Wilson and guest Rich Jordan discuss the intricacies of running a home service business, focusing on the residential plumbing, HVAC, and electric sectors.
They delve into the challenges of maintaining profitability in the HVAC installation sector, exploring the unpredictability of business demands, material cost fluctuations, and the impact of seasonal changes. The conversation highlights the importance of precise job costing, optimizing gross margins, and strategic planning to stabilize and grow the business.
They touch upon the dynamics of partnerships, acquisitions, and the decision-making process between being a big fish in a small pond or a small fish in a big pond within the competitive landscape of home service businesses.
00:00 Introduction to Owned and Operated
00:30 Weekly Insights Newsletter Promo
01:05 Special Guest: Rich Jordan's Second Appearance
01:24 Navigating the HVAC Business Landscape
03:32 The Unpredictability of HVAC Install Business
05:14 Strategies for Smoothing Out Seasonal Variations
07:13 Leveraging Technology for Business Efficiency
10:06 Exploring Gross Margin Challenges in HVAC
14:48 The Journey of Business Expansion and Acquisitions
16:55 Shared Services: A Double-Edged Sword
20:05 The Power of a Strong Business Partnership
23:20 Future Plans and Organic Growth Strategies
25:53 Big Fish in a Small Pond vs. Small Fish in a Big Pond
29:54 Closing Thoughts and Workshop Announcement
Episode Host: 🎤
John Wilson: @WilsonCompanies on Twitter
Jack Carr: @TheHVACJack on Twitter
Rich Jordan: @StrongPointRich on Twitter
Special thanks to our sponsor: Service Scalers: 📈
Looking to scale your home service business? Service Scalers is a digital marketing agency that drives success in PPC and LSA. Discover more growth strategies by visiting Service Scalers: https://www.servicescalers.com/
Check out Owned and Operated Weekly Insights: a newsletter that’s jam-packed with actionable growth strategies to level up your home service business. Subscribe Here: http://tinyurl.com/ownedopnews
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John Wilson, CEO of Wilson Companies
Jack Carr, CEO of Rapid HVAC
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