From Bankrupt to $150M: Lance Bachmann’s Home Services Playbook

Guest: Lance Bachmann — Founder & Owner, LB Capital | MN Exteriors Guest Links: Website: https://lbachmanncapital.comLance Bachmann grew up in foster care and group homes, went bankrupt in his 30s, and now runs LB Capital, a home service platform on track for $150 to $175 million in revenue with 14 roofing companies under MN Exteriors, all funded with his own money and zero private equity. In this episode, he explains why roofing in 2026 is where HVAC was 30 years ago, breaks down the LB Capital 50% partnership model and why retaining local brand equity is non-negotiable, and gets blunt about the three metrics that actually matter. It's a raw conversation about energy, marriage, haters, gratitude, and why most people overcomplicate a business that comes down to sold revenue, gross profit, and net income.You'll learn:Why roofing in 2026 is where HVAC was 30 years ago (and why PE can't find good companies)The LB Capital model: 50% equity, operational control, and full playbook accessWhy retaining local brand equity beats consolidating under one nameHow adding roofing to an HVAC and plumbing business added $15M in revenueThe three metrics that actually matter: sold revenue, gross profit, net incomeWhy 50% gross profit almost guarantees 15 to 20% net if operations are rightThe daily automated text report he gets at 6am (leads, booking rate, close rate, average ticket, rehash)Why he fired his own mother from bookkeeping over a mindset mismatchWhy he never discusses business with his wife (and why he thinks no one should)How bankruptcy happened: no financial literacy, not a bad economyWhy he owns real estate outright so he can never go bankrupt againSauna, ice bath, prayer, and cutting alcohol: the energy management routineThe Man in the Arena principle and why haters don't get attentionWhy he'll sell the platform but only to someone who keeps him leading it"We have obstacles, not problems" and the gratitude mindset behind it