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Plumbing business coaching

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  • Plumbing business coaching

    I get PM magazine monthly which is a free trade magazine for plumbing and heating. Lots of ads for equipment, etc, but also some interesting articles. This month there was a fellow who wrote an article which discussed typical plumbing business financial metrics. I have to admit I've never bothered with too much concentrating on the financial end of things always figuring if I do good work, be honest in my dealings with customers and charge a reasonable rate the business will grow.

    Anyway, some of the metrics this fellow described were rather striking to me. Labor being 24% of the hourly rate being one example. (if I read it correctly)

    Anyway, the author works for a company Next Star Network which apparently offers assistance to plumbing and electrical companies.

    Do any of you have any thoughts or experience with Next Star Network?
    Time flies like an arrow.

    Fruit flies like a banana.

  • #2
    Re: Plumbing business coaching

    Some extremely expensive assistance from what I've heard................


    David

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    • #3
      Re: Plumbing business coaching

      Is this the article?
      New year, no fear - Column - Plumbing and Mechanical

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      • #4
        Re: Plumbing business coaching

        My labor is closer to 40% of my hourly rate. Profit is 33%. The rest is overhead.
        "Man will do many things to get himself loved, he will do all things to get himself envied." Mark Twain

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        • #5
          Re: Plumbing business coaching

          My accountant asked if we wanted to become a "non profit" company. I'm not sure why he said that.

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          • #6
            Re: Plumbing business coaching

            Originally posted by myakka View Post

            Yes. Interesting, it seems a little clearer to me online as compared to the magazine.
            Time flies like an arrow.

            Fruit flies like a banana.

            Comment


            • #7
              Re: Plumbing business coaching

              Originally posted by ironranger View Post
              My accountant asked if we wanted to become a "non profit" company. I'm not sure why he said that.
              It seems sometimes like I'm a non profit company.
              Time flies like an arrow.

              Fruit flies like a banana.

              Comment

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