You need to grow your plumbing or electrical business, and everyone says, “Advertise!” But where? Years ago, the biggest Yellow Pages ad drove the most traffic. Then came Google, shifting dollars toward websites and SEO. Now, even with significant SEO spending, the return on investment (ROI) often feels disappointing. Understanding ROI in Marketing A common […]
Smart Marketing for Plumbing and Electrical Businesses Read More »
I was asked recently, “Is it time for a price increase?” All business owners ponder that question when profits start slipping and the bank account starts dropping. Well, it depends. Price changes should be based solely on the data and market trends. The first thing I review is your field labor and material expenses to
Whether you have licensed plumbers or technicians with experience working under your Master License, they each have a cost to the business. Hourly pay systems are the most understandable and most common. The hourly system is also one where most owners pay out the most. Meaning, their staff is overpaid based on the production revenue
Paying Your Plumbers and Technicians Read More »
Over the last two to three years, investment and consolidation companies have been doing all they can to acquire profitable plumbing businesses across the U.S. Most plumbing companies do not meet their requirements due to small profit margins. On the other hand, some excellent companies have been sold that produced excellent margins – 20% Operating
The Investment – Consolidation Robbery Read More »
I am hearing it a lot; my phone is not ringing enough! Which means, I need more work. First, let’s take a look at your website. What is your call to action? Is it coupons? A full page of coupons? Are you the discount plumber? Maybe your service is not worth anything, so you can
It’s Not About You! Read More »
If you are a service plumber, electrician, HVAC tech – you are not in the construction business. You are in the people business. It just so happens that this people business involves mechanical systems that require a good education, state and local licenses, the ability to work with your hands and be somewhat of a
What the Customer Wants Read More »
I speak with plumbers everyday and one of the questions I ask is, “Are you charging what you are worth?” First, many do not know their costs. They no idea if they are making money. They don’t know because they are “too busy working”… Well, that is another subject. Second, “If I raise my price,
Charging What You are Worth Read More »
Almost every day, I come across a tired plumber like you who decides to hang up the wrenches and retire. “I will just sell my business and that will be my retirement” you say. Then the greatest disappointment in your lifetime happens – the “business” is not really worth anything. For the past several years,
The Plumber’s Greatest Disappointment Read More »
I am encountering more and more plumbing companies whose owners are scared. I am not sure if it is scared of success, or scared of change, or scared of asking for help. Why do people with the dream of going into business, think that they know it all and can’t ask questions? A doctor goes
I am sure you have heard the term; build it and they will come. It’s based on the movie Field of Dreams. Build a baseball field in the middle of nowhere and people will show up to watch baseball. There is much more to the story than that, but using that thought, think of your
What do you track on a daily basis? Probably the revenue brought in is first on the list. The money does pay the bills, but that is not all you should be tracking. Below are some items you should be tracking daily, weekly, and monthly. Close Rate: That is the relationship between the jobs that
Years ago, a plumbing company would purchase the largest ad they could afford in the Yellow Pages and the phone would ring. As a matter of fact, many new plumbing companies would not open their doors until the Yellow Pages were starting to be delivered to the public. Unless your company was absolutely terrible, you
