Richard shares one of the biggest mistakes he made with his plumbing business. It was a bitter cold February with lots of plumbing emergency calls. It was a record high for service calls -- but a record low for profits.
Timestamps
(9:30) One of the biggest mistakes I made as a plumbing business owner was in a bitter cold February.\
(13:17) Don't do any frozen pipe call for less than $500.
(13:53) Everything takes longer in the winter. Remember, we’re selling time, and you’re losing time.
(15:56) Supply and demand is in effect during times of plumbing emergencies. Demand is high. But you only have so much time.
(18:19) When demand for your services is high, it’s okay to ride the wave of opportunity.
(19:34) Pay your plumbing techs by piece rate. No one wants to be out there thawing a pipe when it's freezing. But the 2-hour pipe job that pays 4 hours makes it worth their while.
(23:10) Should you charge more for service fees during these times? Yes.
(26:10) Charging correctly lets you take care of your plumbing technicians. You can pay them well, buy them lunch, get tem through the tough times.
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