Acquiring Minds Why Plumbing Companies Make Awesome Acquisitions
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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.
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Tech to Plumbing Transition
- Charles Barr transitioned from tech startups to buying a plumbing company.
- He found plumbing exciting, profitable, and resistant to threats like Amazon.
Buy vs. Start Plumbing Business
- Buying a plumbing business gives you an established system, customers, and reputation.
- Starting one from scratch requires high costs and uncertain customer acquisition.
Get Licensed to Reduce Risks
- Getting a plumbing license reduces key man risk and deepens industry knowledge.
- Understanding plumbing code helps in managing and improving the business.