#120 - Rich Jordan and Knowing What Your Real Business Is In Home Service

In this episode of 'Owned and Operated,' host John Wilson and guest Rich Jordan discuss the intricacies of running a home service business, focusing on the residential plumbing, HVAC, and electric sectors.

They delve into the challenges of maintaining profitability in the HVAC installation sector, exploring the unpredictability of business demands, material cost fluctuations, and the impact of seasonal changes. The conversation highlights the importance of precise job costing, optimizing gross margins, and strategic planning to stabilize and grow the business.

They touch upon the dynamics of partnerships, acquisitions, and the decision-making process between being a big fish in a small pond or a small fish in a big pond within the competitive landscape of home service businesses.

00:00Introduction to Owned and Operated
00:30Weekly Insights Newsletter Promo
01:05Special Guest: Rich Jordan's Second Appearance
01:24Navigating the HVAC Business Landscape
03:32The Unpredictability of HVAC Install Business
05:14Strategies for Smoothing Out Seasonal Variations
07:13Leveraging Technology for Business Efficiency
10:06Exploring Gross Margin Challenges in HVAC
14:48The Journey of Business Expansion and Acquisitions
16:55Shared Services: A Double-Edged Sword
20:05The Power of a Strong Business Partnership
23:20Future Plans and Organic Growth Strategies
25:53Big Fish in a Small Pond vs. Small Fish in a Big Pond
29:54Closing Thoughts and Workshop Announcement

Episode Host: 🎤
John Wilson: @WilsonCompanies on Twitter
Jack Carr: @TheHVACJack on Twitter
Rich Jordan: @StrongPointRich on Twitter

Special thanks to our sponsor: Service Scalers: 📈
Looking to scale your home service business? Service Scalers is a digital marketing agency that drives success in PPC and LSA. Discover more growth strategies by visiting Service Scalers: https://www.servicescalers.com/

Check out Owned and Operated Weekly Insights: a newsletter that’s jam-packed with actionable growth strategies to level up your home service business. Subscribe Here: http://tinyurl.com/ownedopnews

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John Wilson, CEO of Wilson Companies
Jack Carr, CEO of Rapid HVAC