My dad owns a successful Appliance Repair company, servicing a large area. He has several technicians who work as subcontractors, each with their own area they cover and incoming calls are delegated to.
My dad makes plenty of money and I and my mom are both very involved with the business, working in the office setting up calls and processing payments. THE PROBLEM: My dad has owned this company for about 20 years, and still to this day can't get himself out of the field...so he can focus ON the business, instead of being IN the business.
The positives are that if he needs to leave town or take time off, the subcontractors are still bringing in $$, which he takes about 45% of (not sure of the exact percentage)...but it's not quite enough where he can permanently take himself out of the field.
HE wants to downsize the business, due to how stressed and busy he constantly is, and to reduce costs.
However.... my husband is also in the Appliance repair industry and we are talking to him about possibly buying the company. If we do so, I do NOT want us to fall into the same trap. I want to streamline the business so we can focus ON it, not being stuck in it. And I want to focus on GROWING it.
Currently the system is:
1. pulling in customers through marketing - 99% are previous customers OR people using the Yellowbook. For some reason, even though we have a website set up and optimized for the right keywords, Yellowpages is KING for bringing in customers. But we work with a lot of elderly people, so that makes sense.
2. We in the office delegate calls to our techs who cover each area. They can do 6 calls a day... it's a small service call fee for an estimate, which is waived if the customer decides to have us complete the repair. For the techs, my dad profits about 45%, he keeps 100% of his own calls. Of course lots of this profit goes back into marketing, etc
Please, let me know what YOU would do or try, to make this a better business model.
My dad makes plenty of money and I and my mom are both very involved with the business, working in the office setting up calls and processing payments. THE PROBLEM: My dad has owned this company for about 20 years, and still to this day can't get himself out of the field...so he can focus ON the business, instead of being IN the business.
The positives are that if he needs to leave town or take time off, the subcontractors are still bringing in $$, which he takes about 45% of (not sure of the exact percentage)...but it's not quite enough where he can permanently take himself out of the field.
HE wants to downsize the business, due to how stressed and busy he constantly is, and to reduce costs.
However.... my husband is also in the Appliance repair industry and we are talking to him about possibly buying the company. If we do so, I do NOT want us to fall into the same trap. I want to streamline the business so we can focus ON it, not being stuck in it. And I want to focus on GROWING it.
Currently the system is:
1. pulling in customers through marketing - 99% are previous customers OR people using the Yellowbook. For some reason, even though we have a website set up and optimized for the right keywords, Yellowpages is KING for bringing in customers. But we work with a lot of elderly people, so that makes sense.
2. We in the office delegate calls to our techs who cover each area. They can do 6 calls a day... it's a small service call fee for an estimate, which is waived if the customer decides to have us complete the repair. For the techs, my dad profits about 45%, he keeps 100% of his own calls. Of course lots of this profit goes back into marketing, etc
Please, let me know what YOU would do or try, to make this a better business model.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
