NG1Analyst

[Shawn Gorham @shawngorham]

How to buy a plumbing company:

Meet Frank

Frank is 76 and he has been plumbing since the 70’s and licensed since 1984

Frank is 76 and still working

Frank really wants to retire

I just met Frank this morning while grabbing my morning coffee

Tip 1: always go to the same coffee shop it’s an easy way to meet people and build community. It’s worth the $300 a month if you network

I met Frank because he was standing at his truck getting tools and I noticed the license number on this truck logo was very low (old) and said:

“wow that’s a really low license number, what year did you get your license?”

Tip 2: Ask good questions that get them talking about themselves then shut up and listen

“I was licensed in 1984” said Frank

Frank you’ve been plumbing since I was in 1st grade!

Tip 3: Have a sense or humor

Frank: How long are you going to work?

“I want to retire right now. I’ve tried to sell the business but all they want is my accounts”

For the next 30 minutes Frank told me everything about his business

He has 3 employees. 3 trucks/vans

He under charges for his work but his phone rings all day long

He really wants to keep working part time because it gives him meaning, but at 76 he can’t lift water heaters anymore and he hates asking for help

Frank said “he would keep the license in his name (qualify) and help all he could. I’ll teach anyone. I want them to win. I can still work. But I want to be able to take a 2 week cruise too”

Tip 4: know their pain points, what are they trying to stop doing? Be curious, ask questions

After 30 minutes Frank said “why don’t you take over my business? I’ll help you and teach you everything”

Tip 5: Build trust very quick

Frank’s business is small, but he has very good accounts and known locally.
Almost anyone could 3x his revenue 1st year

Buy (small) then Build

This is (one) way to buy a business

BUT - it all starts by talking to people

It’s only 7am
I dropped $5 on a decaf flat white
And I met Frank (also a proud Vet)

Do you want to buy a business?
Meet people, that’s it

It’s all about people

[NG1Analyst @PureSpec_]

@tensigma @conorsen Zoning + lack of windows for interior units, slowly but sure seeing more conversions though

[NG1Analyst @PureSpec_]

@toptierposts @tylertringas Now*

[NG1Analyst @PureSpec_]

@toptierposts @tylertringas No I’m curious what their primary motivations might be?

[NG1Analyst @PureSpec_]

@EIAgov @Rory_Johnston is it too late to register for this, the link didn't work for me

[NG1Analyst @PureSpec_]

Test #natgas

[NG1Analyst @PureSpec_]

@nenuvizagfamous @FibChartsPro hey, just wanted to ask why you thought that was a bad report?

[NG1Analyst @PureSpec_]

@DasarteYarnway absolutely man, really enjoy your stuff. keep it up!

[NG1Analyst @PureSpec_]

@DasarteYarnway true, and not in a tax-deferred account-- that's why I'm following/learning from guys like you

[NG1Analyst @PureSpec_]

@DasarteYarnway I had been buying up energy heavily throughout the late summer/Fall (up to 40% of my portfolio, not smart), ultimately the trade outperformed my expectation through Feb and now I'm seeing headwinds develop + having the cash around tax season is nice

[NG1Analyst @PureSpec_]

@DasarteYarnway SPY/VDE, but hedging and cutting down on the oil/energy exposure

[NG1Analyst @PureSpec_]

@thlaylis_gull @darjohn25 been following/analyzing ERCOT for work over the last 3-4 years now. You hit the nail on the head man, imo it's the key issue people are not discussing. Bravo.. these nuances are where the real money is made

[NG1Analyst @PureSpec_]

@FredDial1 nice lil move td😎

[NG1Analyst @PureSpec_]

@FredDial1 Pretty tough to see through the next few months, but I think the fundamentals are structurally shifting in your favor. the longer we stay low-- the more bullish the back of the curve looks

[NG1Analyst @PureSpec_]

@Ahsan_awann Hey where are you seeing this?