Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast #139 - LEGENDS: Chad Peterman’s $120M Home Service Scaling Strategy
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Aug 23, 2024 Chad Peterman, President and CEO of Peterman Brothers—a booming $120M home service business—shares insights on scaling and operational excellence. He discusses the power of centralized operations for expansion and the significance of strategic licensing for multi-state growth. The conversation dives into the balance between acquisitions and greenfield developments, emphasizing cultural integration and technology in customer service. Chad reveals how podcasting has evolved as a tool for leadership and employee engagement, enhancing company culture across locations.
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Accidental Expansion
- Peterman Brothers' first expansion outside Indianapolis happened somewhat accidentally in 2018.
- A service manager's desire to lead his own location prompted the move to Lafayette, Indiana after an acquisition fell through.
Tier-Two Targeting
- Focus on tier-two markets for expansion, avoiding giants like Chicago but ensuring the market can support the business.
- Aim for locations that can reach $15-20 million in revenue without extensive added infrastructure.
Greenfield vs. Acquisition
- Greenfielding new locations offers greater control over company culture than acquisitions.
- Acquisitions often bring employees accustomed to smaller company environments who may not adapt well to new processes.