How I Sold My Plumbing Business After Nearly 40 Years

The Site Shed

The Site Shed
How I Sold My Plumbing Business After Nearly 40 Years
Mar 09, 2022 Episode 337
Matt Jones - Trade based business enthusiast

For someone to be able to build a business from scratch and sell it after nearly 40 years — that’s like a dream for business owners. The saleability of one’s business is dependent on many factors and one of those is the profitability of the business, although it shouldn’t stop at that.

Today’s guest, Lorenzo Poletto was the founder and previous owner of Chiswick Plumbing Pty Ltd. This conversation is one that I’ve been very keen to have because I wanted Lorenzo to shed some light around the dynamics of building a business from scratch and selling it.

This podcast is for all trade business owners, whether you’re new to trades or have been in the industry for quite some time. You’ll surely take away lots of valuable insights so don’t miss it and tune in now! Let’s get started!

Discussion Points: 

0:00 Opportunity Analysis

1:54 Welcome to the podcast

6:19 Lorenzo shares the story of how he got into trades

14:14 Understanding the evolution of one’s role in a business

17:25 Why it’s not a good idea to name your business after yourself

19:10 What you should watch out for about location businesses

20:16 Advice on naming your business

22:33 How Lorenzo started flat rates and upfront pricing

26:26 Managing a team’s growth from 3 to 30 people

27:47 Flat rates changing the financial management side of Lorenzo’s business

29:50 Why you should think about upfront pricing

36:34 If you try to do everything at once, you’ll end up doing nothing

38:02 Is riches in the niches true?

42:04 Being a skilled tradesman does not automatically mean good businessman

43:23 Lorezo on training his people

45:33 The main point of training people in your business

49:03 Taking your team from 3 people to 30 — how does it look like?

53:05 Integrating new programs and systems into your business is a journey

54:25 About coaches and mentors

Get FREE marketing insights for your business when you complete the Opportunity Scorecard - https://go.tradiewebguys.com.au/

Don't let your business fall behind—explore the power of AI with Tradie Hub. Visit tradiehub.net to see the innovative AI tools crafted just for tradies. Discover how you can stay ahead and transform your business with cutting-edge technology! 

🧰 Want Access To Tools & Training from Industry Leaders?

Join Tradie Academy, our free community packed with templates, checklists, and resources shared by podcast guests, coaches, and successful tradies.

👉 Join free and grab your next growth tool.

📲 Stay Connected:


⭐ Enjoyed This Episode? Leave us a review here!