In The Trenches Is Home Services Still a Good Bet? A Veteran Operator’s Take on a Saturated Market
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Jun 19, 2025 
Collin Hathaway, Founder of Skylight Capital and a veteran of the home services industry, reflects on his entrepreneurial journey from acquiring a plumbing company during the 2008 financial crisis to navigating today's competitive market. He discusses the shift towards organic versus inorganic growth and the challenges of investor communication. Hathaway also shares personal stories about overcoming a heart attack and his insights on accountability, business valuation risks, and the importance of maintaining strong company culture amid financial pressures.
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Early Entrepreneurial Beginnings
- Collin Hathaway started buying small home services companies during the 2008 recession with limited capital and no clear thesis.
- His early ventures included plumbing, HVAC, and roofing, with emphasis on finding great owners and culture over sector hype.
Evolution of Home Services Market
- The home services market was much less competitive and sophisticated when Collin entered it in 2008.
- Now, heavy private equity interest has inflated valuations, increased competition, and led to consolidation challenges.
Prioritize Organic Growth
- Don't rely solely on inorganic growth or cost cutting to succeed in home services.
- Focus on the hard work of growing companies organically and maintaining culture to avoid complexity pitfalls.