To The Point - Home Services Podcast

How to Handle Tariffs & Price Increases Like A Pro with Leland Smith and Aaron Gaynor

Apr 29, 2025
Leland Smith, founder of Service Champions, and industry expert Aaron Gaynor explore key strategies for navigating economic challenges in home services. They discuss the impact of tariffs and the importance of timely price adjustments to maintain profitability. Leland reveals the success behind club memberships and their role in customer loyalty. The conversation also covers lessons learned during COVID, the significance of training skilled tradespeople, and the value of quality service over quick fixes. It's a must-listen for anyone looking to enhance their business!
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ADVICE

Act Fast on Price Increases

  • React quickly to price changes to avoid margin loss and backlog.
  • Inform your whole management team immediately when price increases due to tariffs are received to prepare for swift implementation.
ADVICE

Maintain Margins Amid Tariffs

  • Confirm tariff price increases are consistent with competitors before accepting them.
  • Mark up prices significantly above raw cost increases to maintain desired profit margins.
INSIGHT

Tariffs Are Part of Business

  • Tariffs and price increases are a normal part of business evolution.
  • Adapting to industry changes like new refrigerants is essential for long-term success.
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