#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.00:00 Introduction to Owned and Operated00:30 Weekly Insights Newsletter Promo01:05 Special Guest: Rich Jordan's Second Appearance01:24 Navigating the HVAC Business Landscape03:32 The Unpredictability of HVAC Install Business05:14 Strategies for Smoothing Out Seasonal Variations07:13 Leveraging Technology for Business Efficiency10:06 Exploring Gross Margin Challenges in HVAC14:48 The Journey of Business Expansion and Acquisitions16:55 Shared Services: A Double-Edged Sword20:05 The Power of a Strong Business Partnership23:20 Future Plans and Organic Growth Strategies25:53 Big Fish in a Small Pond vs. Small Fish in a Big Pond29:54 Closing Thoughts and Workshop AnnouncementEpisode Host: 🎤John Wilson: @WilsonCompanies on TwitterJack Carr: @TheHVACJack on TwitterRich Jordan: @StrongPointRich on TwitterSpecial 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/ownedopnewsDon't forget to subscribe! 🙏Youtube: @OwnedandOperatedPodcastX: @ownedoperatedcoSPOTIFY: https://open.spotify.com/show/10mwKIq35xzVz5qHcju3Kb?si=a2eb1f177053402d&nd=1APPLE PODCAST: https://podcasts.apple.com/us/podcast/owned-and-operated/id1560999545www.ownedandoperated.comContact us: [email protected] Us Mail!More Ways To Connect with O&OJohn's Podcast YouTube ChannelOwned and Operated Newsletter Bonus Videos From JohnLeave a ReviewJohn Wilson, CEO of Wilson CompaniesJack Carr, CEO of Rapid HVAC📌 Disclaimer: Some links may include UTM parameters or affiliate relationships, meaning we may earn a commission if you make a purchase. Episodes may feature sponsors, but all opinions expressed are our own.