Acquiring Minds
Why Plumbing Companies Make Awesome Acquisitions
Aug 26, 2021
Charles Barr, an entrepreneur who recently acquired DiMartino Plumbing, discusses buying a small business as a path to wealth. He shares why he chose plumbing, the numbers on the business deal, and why he's getting his plumbing license. He also highlights the advantages of buying a plumbing business, including financial benefits and the potential for growth.
57:57
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Quick takeaways
- Starting with a smaller business when acquiring companies allows for more room for growth and opportunities for significant improvements in operations and customer service.
- Reducing worry by focusing on building relationships, searching within a specific industry or area, and pre-hiring key employees can contribute to successful business acquisition.
Deep dives
Becoming an Entrepreneur through Acquiring Businesses
In this podcast episode, Charles Barr discusses the process of acquiring a plumbing business in South Florida. He highlights the appeal of small business acquisition, particularly in the plumbing industry, and shares his journey from working in the tech startup world to pursuing business ownership. Charles emphasizes the importance of industry research and due diligence in choosing a suitable business to acquire. He also discusses the challenges and rewards of being a business owner, including the need to address operational issues, improve customer service, and optimize profitability. Charles expresses his intention to continue acquiring businesses in the home services space and build his own portfolio.
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