How To Sell A Plumbing Business - Case Study

16 Jul 2024 · 42 min
42:05

This is a transcript of a July 2024 YouTube interview (David Jenyns with Andy and Angela Smith) about how they systemized their plumbing company Dr. Drip, which they founded ~21 years earlier, scaled to multi-million turnover, restructured through documented systems and technology, and ultimately sold. Key events: an office manager’s 10–12 week medical absence revealed the value but also gaps in their documentation; the couple spent ~6–12 months doubling-down to systemize the business (flowcharts, videos, job-management tech); the business achieved ~77% repeat residential work, streamlined operations (one admin running five trucks), and completed a sale to a larger local Sydney plumbing firm in about three months. The interview emphasizes starting systemization early, capturing repetitive job-flow tasks first, appointing a systems champion (office + field leaders), measuring metrics weekly, and teaching other tradie businesses via Lifestyle Tradies.

Questions this video answers

About 21 years ago (Andy: "we started that 21 years ago").

About 17 people (Andy: "At our peak we were turning over a couple of mil and we had a team of 17").

"A couple of mil" (Andy: "At our peak we were turning over a couple of mil").

About 10–12 weeks (Angela: "she was actually uncontactable for 10 weeks" / Andy references 10–12 weeks).

Approximately 6–12 months (Angela: "initial efforts... took at least six to 12 months").

Chapters

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