To the Point Home Services Podcast

The Home Services Podcast That Gives Back

Episode 165: Key Home Services Financials & Metrics to 73MM and Beyond

April 11, 2023

Episode 165: Key Home Services Financials & Metrics to 73MM and Beyond

Published: April 11, 2023
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You’ve been asking for it! We keep hearing from our listeners to bring on guests that can speak more about the financials side of growing a home services business, and who better than Mike Barnhart? Mike is the CFO of Eco Plumbers, Electricians, and HVAC Technicians, and joins host Chris and guest co-host Aaron Gaynor to dive in to how Mike helped grow the Columbus, OH, business from 1.9MM to 73MM and counting.

A Plumber and Numbers Guy Meet…And Big Things Happen

Inflation, expenses, competitive wages…there’s a lot for contractors to contend with when it comes to the financials side of running a business. What should different metrics look like? What’s the average? What metrics should I even be paying attention to? When Aaron Gaynor, owner of Eco Plumbers, met Mike at a party, that’s exactly what he was thinking about.

Aaron told Mike that he wanted to grow the company to 100MM, and within a year, Mike had left working in financials to help Aaron grow the business. It’s been ten years since, and Mike has loved every minute of it – even becoming a licensed plumber himself out of his love for the trade!

After joining full-time, Mike immediately got to work creating scorecards, implementing Service Titan, and helping Aaron push the company to new heights.

In this episode, Mike, Aaron, and Chris dive into:
  • The factors that have led to growing from 1.9MM to 73MM
  • Adding additional trades
  • The impact of Service Titan and Nexstar
  • The “Big 5” metrics
  • How financials impact the growth and health of a business
  • What a bold vision means for attracting talent
  • Envisioning the end goal and working backward
  • And so much more!

Are You On Top of Your Financials Game?

You’ve heard it before…what doesn’t get measured doesn’t get managed. Aaron knew this, and his bold vision brought Mike in to help him do just that with the financial side of the business. Combined with Service Titan and a network of like-minded contractors at Nexstar, Eco Plumbers, Electricians, and HVAC Technicians is now well on its path to 100MM and beyond.

Want to connect with Mike? Shoot him an email at mike@ecoplumbers.com

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