You Can Make WAY MORE Money Than You Think

Jared introduces Plumline, a 24-hour answering service that books calls per booking, offering a week of free booked calls to listeners.

Jared and Eddie discuss the misconception that smaller companies have less overhead and the true cost of operating a plumbing business, which can be around $1 million annually for a three-truck company.

The hosts emphasize the crucial importance of tracking every expense, reviewing profit and loss statements monthly, and ensuring correct categorization for accurate pricing.

They explain that technicians are not 100% billable and estimate around 55% billable efficiency, stressing the need to factor in unbillable time into pricing.

The discussion covers how to calculate the cost per billable hour by dividing total expenses by billable hours, and how to use margin-based pricing for profitability.

Jared and Eddie explore advanced pricing strategies, including loss leaders, varying markups for different services/materials, and adapting prices based on market efficiency.

The hosts advise adjusting pricing based on the business's current stage, acknowledging that new businesses might need to run at a breakeven or slight loss initially for future growth.