Why the Lights Went Off at His Plumbing Company - Brent Garrett

Brent Garrett had already built and sold a successful plumbing and air conditioning company when his next business nearly collapsed under roughly $1 million in debt.In this episode of Profit & Grit, Brent shares how losing sight of the company’s culture and finances led to one of the hardest periods of his career. He explains how he rebuilt the business by improving sales, pricing, financial oversight, technician performance, and leadership.The conversation also covers the messy middle of growth and the key systems trades owners need to build a stronger, more profitable company that does not depend entirely on them.What You Will Learn in This EpisodeHow he built and sold his first company before moving into mergers and acquisitionsHow his business ended up close to bankruptcy and roughly $1 million in debtWhich financial statements and operating numbers trades owners should regularly reviewHow focusing on the customer experience and needs-based selling helped rebuild the companyThe four stages trades businesses move through from owning a job to owning a companyWhy many contractors become stuck in the messy middle around five or six trucksThe five areas Brent says growing trades companies must prioritizeHow technology and CRM systems help prevent growing companies from multiplying inefficient processesWhy marketing and recruiting should be ongoing business functions rather than occasional projectsHow understanding gross profit helps owners price their services correctlyWhy confusing markup with margin can cause a company to lose money on every saleHow Brent works backward from desired profit to establish revenue and overhead targetsHow completed calls, average ticket, revenue, and labor percentage work togetherWhy profitable growth allows a company to reinvest in its people, customers, and long-term legacyMore From Profit & GritBook your complimentary Financial Insight Session with Tyler Martin, fractional CFO for home services and the trades, here:cfointrocall.comLearn more at profitandgrit.comFollow the show for weekly interviews with HVAC, plumbing, and home service owners and experts who share what it really takes to grow, scale, and profit in the trades.If you listen to any of the following shows, we’re sure you’ll love ours too! To The Point Home Services Podcast, Toolbox for the Trades, Masters of Home Service, Home Service Business Coach With David Moerman, BlueCollar.CEO, The Home Service Expert Podcast, Next Level Pros, Blue Collar Business Podcast, Home Service Millionaire with Mike Andes, The Contractor Fight with Tom Reber, and Blue Collar Success Group.🎙️ Profit & Grit by Tyler Martin Real stories. Real strategy. Real results for service-based business owners.🔗 Website: ProfitAndGrit.com 📍 LinkedIn: linkedin.com/in/thinktyler 📸 Instagram & TikTok: @profitandgritTyler Martin, a fractional CFO for home services and the trades 📅 Want to grow your business with smarter financial strategy? Book a free intro meeting