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The Fort - An Entrepreneurship Podcast

#332 - Chris Hoffmann - CEO of Hoffmann Brothers - From $10M to $140M: Scaling a Home Services Giant - A Story of Family, Purpose, and Unprecedented Growth

Jan 23, 2024

Chris Hoffmann, CEO of Hoffmann Brothers, shares his experience in the Marine Corps, taking over the family business, scaling the business, retaining and training labor, and the future of the trades. He also discusses purpose-driven ownership vs. PE, scaling acquired businesses, call centers, the future of marketing, and the importance of Google reviews.

01:21:52

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Quick takeaways

Building trust before driving change is essential for effective leadership in organizations.

Effective leadership involves candid communication, self-awareness, and a commitment to excellence.

Investing in talent development through initiatives like the Hoffmann Brothers University helps attract and retain top talent.

Purpose-driven long-term ownership prioritizing employee satisfaction creates long-term value for stakeholders compared to private equity ownership.

Deep dives

Building Trust and Driving Change

One of the main ideas discussed in the podcast is the importance of building trust before attempting to drive change in an organization. The speaker emphasizes the value of taking a tactical pause when entering a new organization to learn the current landscape and establish trust with team members. By doing so, leaders will be better equipped to effectively drive change and avoid any value-decreasing propositions.

1.

Introduction

3min

2.

Lessons Learned in the Marine Corps

14min

3.

Exploring Purpose-Driven Private Ownership and the Impact of Consolidation

2min

4.

Building Trust and Understanding the Landscape

6min

5.

Challenges in the Home Building Business

16min

6.

Key Questions for Sellers in Understanding Potential Buyers

15min

7.

Subscription-based House Manager Service

16min

8.

The Future of Small HVAC and PE Service Providers

2min

9.

Scaling a Company with a Global Remote Workforce

4min

10.

Increasing Efficiency with Overseas Team and Internal Outsourcing

3min

Chris Hoffmann currently serves as the CEO at Deutschmann Lane Holdings (DLH), which operates a family of companies including Hoffmann Brothers, Ferguson Roofing & Exteriors, Deutschmann Lane Real Estate, and HBH Investment Company. Before joining DLH, Chris served as an officer in the United States Marine Corps, leaving active duty in 2014.

On this episode, we discuss:

Chris' experience in the Marine Corps
Taking over the family business
Scaling the business
Retaining and training labor
The future of the trades
Scaling acquired businesses

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Links:

Chris Hoffmann on X

Chris Hoffmann on LinkedIn

Hoffmann Brothers

Nexstar Network

Tugboat Institute

Topics:

(00:00:00) - Intro

(00:03:19) - Chris’ time in the Marines

(00:10:17) - Taking over the family business

(00:14:41) - Scaling the business

(00:19:18) - The first year in the business

(00:23:04) - What metrics matter in your industry?

(00:25:25) - Scaling the business after $20mm

(00:27:30) - Successfully retaining labor & Hoffmann Brothers University

(00:32:43) - The future of the trades

(00:34:06) - Purpose-driven ownership vs. PE

(00:41:09) - What questions should sellers be asking buyers?

(00:45:12) - Scaling acquired businesses

(00:48:01) - Call centers

(00:50:34) - The future of marketing is not paid search

(00:51:58) - The importance of Google reviews

(00:52:29) - Is B2C harder than B2B?

(00:54:13) - Recession resistance

(00:57:06) - Business ideas: House managers

(00:59:29) - What do the next 10 years look like for Hoffmann Brothers?

(01:02:40) - The family dynamic within the business

(01:06:19) - Do you have a succession plan?

(01:09:03) - Mistakes made

(01:12:23) - What do you see for the future of your industry?

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The FORT is produced by Johnny Podcasts

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