Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast

Chris Barr, a savvy entrepreneur who acquired a pressure washing company, shares his insightful journey into business acquisition. He details how he structured his financing, combining cash and earnouts effectively. Chris emphasizes the importance of building the right team, selecting specialized advisors, and navigating the complexities of due diligence. He also provides tips on evaluating financial and legal risks while avoiding red flags. This conversation is a treasure trove for anyone looking to dive into local service business acquisitions.

Exploring the reality of businesses making $20 million, the discussion highlights that revenue does not equal sophistication. Leadership challenges emerge as companies scale, requiring well-structured senior teams and effective delegation. The importance of internal promotions versus hiring externally is examined, along with the need for solid HR and marketing departments. Emphasizing leadership development, the talk reveals how a robust team can foster long-term growth and stability, proving that there's more to success than just hitting a financial milestone.

Discover the secrets to hitting the coveted $1 million in EBITDA in the HVAC industry. The hosts share their journey of overcoming operational challenges and maximizing sales efficiency. Learn about the importance of technician retention and how strategic automation can cut costs while boosting output. They break down the significance of data-driven decisions and the art of refining sales processes. Plus, explore how to create a thriving environment for top talent and the roadmap to achieving a $10 million revenue goal.

In this insightful conversation, Chris Barr, a first-time buyer diving into business acquisitions, shares his journey of navigating the complex landscape of smart deal structures. He discusses the importance of walking away from incompatible deals, like an art-framing shop that didn’t fit his vision. Listeners will learn about crafting offers that combine cash and earnouts, sourcing off-market deals, and the significance of building a credible personal brand. Chris also offers tips on due diligence and negotiation strategies that can lead to successful acquisitions.

Brandon Niro, President of Wilson, shares his expertise on climbing the corporate ladder within home service companies. He reveals that 30-40% of their team members are promoted internally, emphasizing the importance of a growth mindset and proactivity. They discuss Wilson’s 52-week Emerging Leaders program, which develops essential leadership skills. Topics include the significance of emotional intelligence, clear communication about career progression, and how initiative can pave the way for future leadership roles. Tune in for actionable advice on advancing your career!

Discover the essential leadership traits that drive success in service businesses. Learn how Standard Operating Procedures can streamline operations and promote team autonomy. Hear about the journey of scaling from 30 to over 60 employees and the shift from tactical management to strategic development. Unpack the importance of effective delegation, emotional intelligence, and maintaining operational efficiency during rapid growth. Explore the role of AI in enhancing customer service and the significance of building a transparent company culture.

Chris Barr, an acquisition entrepreneur known for securing off-market deals, joins the conversation. He shares innovative strategies for sourcing acquisitions through personal outreach and freelancers. The importance of building a strong personal brand to attract brokers is discussed, along with tips for crafting an effective buyer persona. Chris dives into real-time negotiations for niche businesses, including a pool service and art framing company, emphasizing the balance of successful deal-making with personal integrity and meaningful relationships.

Uncover the secrets of local lead generation with innovative strategies that work! Discover how hyperlocal newsletters boost home service businesses and why owning your audience is so crucial. Learn about using AI tools for better customer management and the power of Facebook group sponsorships. Community engagement strategies are also discussed, showing how they can enhance customer loyalty and drive growth. Finally, get ready for an upcoming workshop that promises to elevate your local marketing game!

Discover the key sales strategies driving revenue growth in home service companies. The hosts break down the crucial difference between marketed leads and technician-generated leads. Learn how top HVAC firms separate their sales teams to boost efficiency and close rates. Explore the impact of seasonal trends on business performance and the importance of peer networks for sharing operational insights. Plus, find out how to transition from service technicians to effective comfort advisors with streamlined sales processes that really work.

In a candid update, Chris Barr, a business searcher from Florida, shares his insights three months into his journey of acquiring a business. He discusses the reality of evaluating a pool service business, emphasizing the importance of opportunity costs and effective networking. Chris dives into the nuances of navigating employee classifications and the trade-offs between growth and debt repayment. He highlights that no acquisition deal is perfect and encourages learning from every step of the process while aiming for sustainable growth.