Many of us get into our businesses with the intention of putting in our all and working hard day in and day out – but what about when the time comes for you to kick back and retire?
We often hear that people plan to pass down their businesses to loved ones- and while we absolutely love the sentiment there, it often ends up being a bit disastrous or stressful, and causes Restoration Experts to keep working…. and working… and WORKING…….
So what’s the alternative? How do you set yourself up to retire successfully? We are joined today by Rocky Hensley from 1-Tom-Plumber, and he is here to empower you all with the information you need to do just that. With plenty of experience in franchising, selling, and running and growing amazing businesses, there is no better person to guide us all through this journey.
Ben: I wanna talk a little bit about Building and Selling Businesses, How to Set Yourself Up for Success and Exiting.
Rocky: Like you said, we’ve got it down to a system. No matter whether it’s the Solar Business, the Recycling Business, you know, I own three of the, 1-800-PACKOUT Businesses, Cincinnati, Columbus, and Louisville. But it’s literally, it’s about systemizing everything and, I mean, if you can go into it, it’s really three words. It’s Culture, it’s Systems, and it’s Profitability.
And everybody knows Profitability, but what they fail to do, in my opinion, where I see it most common, is they don’t talk about Profitability with their employees and they don’t bring it in. And like even our Plumbing Company, we own for the Franchises, every single one of our Technicians, every truck, because it’s own little Profit Center. And we talked to each one of them all the way down to them, what they’re bringing in, what they’re making profit wise and so on and so forth.
And we preach: “You cannot have the best equipment, best trucks, the best uniforms, the best of everything if we’re not the most profitable.” And so we champion that cost. And even though it’s the third thing, it’s the most important thing because you can’t have a great culture without profit. And you can’t have great systems and great equipment and great things without profit. So, that you know.
Join us Friday, April 25, LIVE on YouTube & LinkedIN for our next Restoration Rundown Episode- you won’t want to miss this one!
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Benjamin Ricciardi is the founder of Ironclad Restoration Marketing, A digital marketing agency that specializes in the Restoration and Cleaning industry based in South Florida. Benjamin is the author of The No Bulls**t Guide to Internet Marketing for Restoration Contractors and hosts The Restoration Rundown Podcast, a podcast that is focused on everything related to marketing and owning a Restoration and Cleaning Business. Connect with Benjamin and Ironclad Restoration Marketing on social media for the latest tips and tricks on how to grow your Restoration Business.