90 Days to 100k in Your Plumbing Business

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[@mikeberriosmedia]

I’m so glad I found your channel. I had started 2 plumbing ventures in the past that failed because I just didn’t understand business cash flow and marketing. Now after being a civil service employee for almost 13 yrs I want to go back to what makes me happy, being a plumber and an entrepreneur. I reside in a new state and I’m going to have to start from scratch to get my licenses and learn all the new codes and stuff here but I feel alive again. The job I had had a pension. But I was miserable doing something I wasn’t happy doing. 20 years ago I didn’t have or use the wealth of information that we can now find on the internet. So channels and podcasts like yours are a goldmine. I know when I’m ready I’ll get myself a mentor or coach to exponentially compound my skills and income. Thank you for your leadership and dedication to getting yourself out there with your knowledge and expertise.

[@mr.nobody8181]

Starting a plumbing business with my best friend in AZ! Website will be done soon!! Super hyped to start grinding!! Thanks for the video 🙏

[@JohnCasteel1333]

Jered you changed my life better and faster than Richard Beheny could have dreamed😂🎉

[@jeredwilliams]

😂 haha thanks man! 👍

[@johnstutt5927]

Great episode guys. You two always share so much.

[@jeredwilliams]

Thanks, I appreciate the great feedback!

[@swackhammer2139]

How do you pay your techs? Are they hourly 9-5 type jobs, comission, or something else? I'm one truck chuking it but you've got me motivated and honsetly first time I've thought about expanding.

[@kamelflowers5516]

Great Video

[@jamesrecknor6752]

PURE GOLD

[@frank3stangs]

Nice video! Do you have a list of minimum stock for a van?

[@rediatsahhle7079]

Jared , finding skilled worker is very difficult, would you advise joining the Union

[@bryanpalmer9903]

How do I figure mark up on material if any?

[@calebroskamp9937]

Jered, do you charge hourly at your rate or charge flat rate and do the work within your estimated labor unit window? What does the estimate/invoice look like? Are all tasks built out =sum((labor units*$)+(material*markup)) Or do you have another way of breaking this down internally?

[@jeredwilliams]

It's all flat rate. Estimates & invoices read what were going to do and what the total price will be. It all gets broken down on the back end in Service Titan. Grab my playbook for more details www.wealthyplumber.com/theplaybook

[@brasshouse9822]

I’m just getting started out. I’ve got my website, business phones, business bank account, credit cards. Got my truck fully outfitted with stickers, got uniforms embroidered. I’m just having a hard time getting people to call. I’ve got a few thousand left for marketing. I’m just not sure. What’s the best way to invest it. My website is only a week or so old so Google will not let me be verified yet or open my Google business page or 60 to 90 days, so that’s got me afraid that any marketing I do will not be affective as people can’t really look me up on Google without going to my site. I know once I start, it’ll snowball. I have spent the last five years in heavy commercial/industrial so I don’t have the contacts I used to when it comes to residential/light commercial. I am considering subbing out for home warranty companies. Since my Google, my business page couldn’t open I decided to do a small campaign on yelp, but it’s been up for three days and I haven’t got one call. This first hump is proving to be fairly tough.

[@jeredwilliams]

Hey man, I would suggest doing some guerrilla marketing. Post on Facebook, letting everyone know that you have just started your plumbing business and you're looking for work. You could also create a free ad on Craigslist, but be warned that most of the people on there will be looking for the cheapest price. Door knocking is also super underrated. Go to a big neighborhood and just visit door-to-door, telling the homeowners that you have recently started your business and you're looking for work. If they say no, just give them a business card and move on to the next house! I hope this helps.

[@jeredwilliams]

Just know that guerrilla marketing is just a quick fix to get some money so that you can do some real marketing.

[@brasshouse9822]

@@jeredwilliams Thanks man, I really appreciate that advice.

[@brasshouse9822]

@@jeredwilliams I went ahead and hired a reputable SEO company here in Dallas after I made that comment. In reality I have most of my Tools and Equipment, my website paid up, my truck paid off. Already have LLC and good insurance, already paid for quickbooks, business cards, uniforms, and a CRM and I still have about 10k left. I’m going all in and betting on myself. I’m hungry as shit and I’m going to make this happen and I’m risking my nest egg. I’m going all in on advertising and hiring pros to do it

[@kirilllesnykh2166]

Guerilla marketing doesn’t even have to be a quick fix. Print a bunch of fliers and leave them at front doors introducing yourself and leave a business card. Black and white fliers are super cheap, and I’ve seen about a 1/200 rate of jobs booked

[@ryanderose9298]

Jared, would you say the three years of "getting by" by pricing jobs that sold easily contributed to a starting customer base? I'm trying to decide if waiting for my customer base to grow will be better than heavy SEO and getting calls from people I don't know...

[@calebroskamp9937]

I’m not Jared, but I know it’s harder to explain to customers down the line that you have to increase prices from “competitive” to “outlandish” than it is so simply start out being priced highly and being known for high quality etc. Also, 35:50.

[@johnstutt5927]

Jared. I find that on bigger jobs I end up having to price them and sell them. Jobs like re pipes, plumbing renovations, and excavations. In pricing these jobs do you have a way that works for the guys in the field or do you have a sales person that goes out and prices these jobs and sells them?

[@jeredwilliams]

We have our techs price them. Anything over $20k has to be double checked by the General Manager (he just runs it through a different calculator to make sure we will hit 60% gross margin or better). The guys use a custom task section we built out in service Titan. They select how many hours and then select how much the parts cost and change the description to match the work being done. It takes some training on your end to get them to do it. Think of it this way… the only reason they can’t do what you are doing is because you haven’t given them the proper resources and training. If you can do it so can they!

[@WaterBoyDan]

Theory of subjective value

[@jm30603]

Any advice for someone who isn't a plumber but wants to learn and buy a plumbing business from someone retiring? Where do plumbing business owners hang out that I can meet some that want to sell?

[@jeredwilliams]

Go to a business broker and give them your criteria.

[@xNevlosx]

Where did you go to get your contracts? I know you use service titan but did you consult a lawyer to get the important legal parts written?

[@calebroskamp9937]

Following

[@auspicioustoot]

On service calls I was charging a 189 bucks an hour before but its just me and my van is paid off my liability and workmans comp arent bad. Do you have an equation you use to dictate what you can charge for your hourly rates or are you by the job pricing?

[@jeredwilliams]

We charge flat rate but our price is based off hourly. Here's the link to my pricing calculator. free.wealthyplumber.com/hrcalc

[@auspicioustoot]

@@jeredwilliams thanks dude

[@johnstutt5927]

Again great content. Thanks a lot guys.

[@johnstutt5927]

Are you guys out there getting that 500 to 600 per hour for replacing of bathtubs, showers, and toilets?

[@johnstutt5927]

You guys are stoking the fire. Love it!

[@shelbyadams9955]

There is no way to get return work maybe even paid at 400 per hour in our area Stuttgart Arkansas

[@jeredwilliams]

Try it! I bet you will be surprised!