Profit & Grit with Tyler

The Shift That Took This HVAC Company From $5M to $11M - Darren Yarbrough

After 40 years in HVAC and plumbing, Darren Yarbrough has built Yarbrough & Sons [https://yarbroughandsons.com/] from a small family-run shop into a multi-trade company with more than 50 team members. In this episode, Darren shares how he started the business in 1988 with no big plan, just a need to provide for his family. He talks about growing through word of mouth, getting stuck around the $5M mark, and how the company changed when his three sons joined the business in 2018. We also discuss adding plumbing, why electrical did not work the first time, how the team uses open numbers and profit sharing, and why customer trust and employee care have stayed at the center of the company. Darren also shares his thoughts on debt, average ticket, financing, succession, private equity, and why his family is leaning into transparent online pricing through GetSuite [https://getsuite.ai/].  What You Will Learn in This Episode *  How Darren started Yarbrough & Sons in 1988  *  Why the business stayed around $5M for years  *  What changed when his sons joined the company  *  How they added plumbing successfully  *  Why the right leader matters when adding a trade  *  How they share numbers and profit with the team  *  Why average ticket became an important number  *  How they think about debt, cash flow, and financing  *  Why they are not focused on selling to private equity  *  How transparent online pricing helps qualify customers More From Profit & Grit Book your complimentary Financial Insight Session with Tyler Martin, fractional CFO for home services and the trades, here: http://cfointrocall.com Learn more at http://cfomadeeasy.com Follow the show for weekly interviews with HVAC, plumbing, and home service owners and experts who share what it really takes to grow, scale, and profit in the trades. If you listen to any of the following shows, we’re sure you’ll love ours too! To The Point Home Services Podcast, Toolbox for the Trades, Masters of Home Service, Home Service Business Coach With David Moerman, BlueCollar.CEO, The Home Service Expert Podcast, Next Level Pros, Blue Collar Business Podcast, Home Service Millionaire with Mike Andes, The Contractor Fight with Tom Reber, and Blue Collar Success Group. 🎙️ Profit & Grit by Tyler Martin Real stories. Real strategy. Real results for service-based business owners. 🔗 Website: ProfitAndGrit.com [https://profitandgrit.com] 📍 LinkedIn: linkedin.com/in/thinktyler [https://www.linkedin.com/in/thinktyler] 📸 Instagram & TikTok: @profitandgrit Tyler Martin, a fractional CFO for home services and the trades 📅 Want to grow your business with smarter financial strategy? Book a free intro meeting [https://calendly.com/tylermartin/intro-meeting-pg]

Become Your Own Private Equity in HVAC and Plumbing - Dillon Caraway

Private equity has been buying up HVAC, plumbing, electrical, and other home service companies for years. But Dillon Caraway believes trades owners have more options than they may realize, especially when financing is used as a growth strategy instead of a last resort. In this episode, Tyler is joined again by Dillon Caraway [https://www.linkedin.com/in/dilloncaraway/] from Live Oak Bank [https://www.liveoak.bank/business-loans/service-contractors/] to talk about how service business owners can use lending to fund acquisitions, buy real estate, access working capital, and prepare for succession. Dillon explains what banks actually look for when evaluating a business, why profitability matters more than top-line revenue, and how clean financials can open the door to bigger opportunities. They also discuss what it means to “become your own private equity,” when buying another company makes sense, how DSCR impacts financing, and why owners need to think carefully before taking on debt, buying a building, or preparing for an exit. What You Will Learn in This Episode * How Dillon and Live Oak Bank work with HVAC, plumbing, electrical, and other service businesses  * Why banks care more about cash flow and profitability than revenue  * What adjusted EBITDA means and why it matters for financing How trades owners can use financing to acquire another business  * What it means to become your own private equity without giving up control  * When 100% financing may be available for an acquisition  * Why keeping cash on the balance sheet matters during growth  * What banks look for in the existing business, target business, and owner’s personal finances  * When buying a building makes sense versus continuing to lease  * How owning real estate can support long-term wealth and succession planning  * Why trends, work mix, and customer concentration can make or break a deal  * What DSCR means and why 1.25x is an important benchmark  * How too much debt can quietly weaken a business  * Why clean books, accurate tax filings, and stable profitability matter before selling  * How owners can prepare for succession, partner buyouts, or selling to a key employee  * Why buyers and banks care about historical performance, not just potential  More From Profit & Grit Book your complimentary Financial Insight Session with Tyler Martin, fractional CFO for home services and the trades, here: http://cfointrocall.com Learn more at http://cfomadeeasy.com Follow the show for weekly interviews with HVAC, plumbing, and home service owners and experts who share what it really takes to grow, scale, and profit in the trades. If you listen to any of the following shows, we’re sure you’ll love ours too! To The Point Home Services Podcast, Toolbox for the Trades, Masters of Home Service, Home Service Business Coach With David Moerman, BlueCollar.CEO, The Home Service Expert Podcast, Next Level Pros, Blue Collar Business Podcast, Home Service Millionaire with Mike Andes, The Contractor Fight with Tom Reber, and Blue Collar Success Group. 🎙️ Profit & Grit by Tyler Martin Real stories. Real strategy. Real results for service-based business owners. 🔗 Website: ProfitAndGrit.com [https://profitandgrit.com] 📍 LinkedIn: linkedin.com/in/thinktyler [https://www.linkedin.com/in/thinktyler] 📸 Instagram & TikTok: @profitandgrit Tyler Martin, a fractional CFO for home services and the trades 📅 Want to grow your business with smarter financial strategy? Book a free intro meeting [https://calendly.com/tylermartin/intro-meeting-pg]

The Big Five Numbers Every Trades Owner Should Track - Mark Paup

At 24, Mark Paup bought a plumbing company from a newspaper ad with four trucks, five employees, and no real plan. More than 25 years later, that decision has grown into Golden Rule, a multi-location, multi-trade business with over 150 employees. In this episode, Mark shares how he went from working two jobs to growing a company across Des Moines, Omaha, and Salt Lake City. He talks about the lessons that came from early setbacks, adding new trades, expanding into new markets, and learning to lead through systems, numbers, and consistency. We also discuss the KPIs Mark watches every week, why cash flow should guide business decisions, and how Golden Rule is using AI in dispatching, call handling, and speed to lead without losing the human side of the business. What You Will Learn in This Episode * How Mark bought his first plumbing company at 24 years old  * Why quitting was never an option, even after the seller competed against him  * How Golden Rule grew from a small plumbing company into a multi-trade business  * Why leadership should drive expansion more than location  * What to know before opening a greenfield location  * Why Mark says new locations may require a few million dollars in reserve  * When it makes sense to add another trade like HVAC or electrical  * Why your first division should be stable before expanding into another service line  * The KPIs Mark tracks weekly to keep the business profitable  * Why cash flow should guide spending decisions  * How Mark uses a financial “quick check” to adjust before the month ends  * How AI is being used and why AI implementation needs a clear thesis, strategy, and internal communication More From Profit & Grit Book your complimentary Financial Insight Session with Tyler Martin, fractional CFO for home services and the trades, here: http://cfointrocall.com Learn more at http://cfomadeeasy.com Follow the show for weekly interviews with HVAC, plumbing, and home service owners and experts who share what it really takes to grow, scale, and profit in the trades. If you listen to any of the following shows, we’re sure you’ll love ours too! To The Point Home Services Podcast, Toolbox for the Trades, Masters of Home Service, Home Service Business Coach With David Moerman, BlueCollar.CEO, The Home Service Expert Podcast, Next Level Pros, Blue Collar Business Podcast, Home Service Millionaire with Mike Andes, The Contractor Fight with Tom Reber, and Blue Collar Success Group. 🎙️ Profit & Grit by Tyler Martin Real stories. Real strategy. Real results for service-based business owners. 🔗 Website: ProfitAndGrit.com [https://profitandgrit.com] 📍 LinkedIn: linkedin.com/in/thinktyler [https://www.linkedin.com/in/thinktyler] 📸 Instagram & TikTok: @profitandgrit Tyler Martin, a fractional CFO for home services and the trades 📅 Want to grow your business with smarter financial strategy? Book a free intro meeting [https://calendly.com/tylermartin/intro-meeting-pg]

The Hard Truth About Starting A Home Service Business - Mike Venidis

After years of advising service businesses on growth and marketing, Mike Venidis is now stepping into the owner-operator seat with Good Golly Garage Doors. In this episode, Mike shares what it’s been like to go from giving advice to actually building a business from scratch. He talks about the emotional weight of making the phone ring, buying leads, answering late-night calls, and learning that even great marketing still takes daily consistency and real-world execution. We also get into why Mike and his wife, Jacqueline, chose to build in the garage door space, how they think about brand as a differentiator, and why customer experience matters just as much as technical service. Mike explains how homeowners make decisions based on trust, feeling, and confidence in the people behind the company. On the operations side, we discuss hiring the right first technician, training, speed to lead, and why blended average ticket is one of the most important numbers in the business. If you’re building a service business or thinking about making the leap from advisor to operator, this episode offers an honest look at what it really takes. What You Will Learn in This Episode * Why Mike says he was “teaching a game” he had never played * What changes when you move from advisor to owner-operator * Why branding and trust matter in local home services * How Good Golly is using customer experience to stand out * Why the first hire is so important in a new service business * The role of lead buying, speed to lead, and consistency early on * What blended average ticket means and why Mike tracks it * How Mike and Jacqueline work together as spouses and business partners * Why garage doors offer both emergency and upgrade opportunities * How the Good Golly network model supports operators without being a franchise More From Profit & Grit Book your complimentary Financial Insight Session with Tyler Martin, fractional CFO for home services and the trades, here: http://cfointrocall.com Learn more at http://cfomadeeasy.com Follow the show for weekly interviews with HVAC, plumbing, and home service owners and experts who share what it really takes to grow, scale, and profit in the trades. If you listen to any of the following shows, we’re sure you’ll love ours too! To The Point Home Services Podcast, Toolbox for the Trades, Masters of Home Service, Home Service Business Coach With David Moerman, BlueCollar.CEO, The Home Service Expert Podcast, Next Level Pros, Blue Collar Business Podcast, Home Service Millionaire with Mike Andes, The Contractor Fight with Tom Reber, and Blue Collar Success Group. 🎙️ Profit & Grit by Tyler Martin Real stories. Real strategy. Real results for service-based business owners. 🔗 Website: ProfitAndGrit.com [https://profitandgrit.com] 📍 LinkedIn: linkedin.com/in/thinktyler [https://www.linkedin.com/in/thinktyler] 📸 Instagram & TikTok: @profitandgrit Tyler Martin, a fractional CFO for home services and the trades 📅 Want to grow your business with smarter financial strategy? Book a free intro meeting [https://calendly.com/tylermartin/intro-meeting-pg]

The Habits That Separate Profitable Shops From Busy Ones — Jason Noel

Being busy isn’t the same as being profitable, and in a lot of service businesses, that gap is bigger than most owners realize. Jason Noel [https://www.linkedin.com/in/jason-noel-16967b30/] from CEO Warrior [https://ceowarrior.com/] joins the show, bringing more than two decades of experience helping HVAC, plumbing, and electrical companies improve performance and turn around struggling operations. In this episode, we break down why so many service businesses look successful on the outside but struggle financially behind the scenes. Jason shares what he’s seen inside companies doing millions in revenue with little to show for it, and why focusing on top-line growth without structure can actually make things worse. We also get into the fundamentals of improving profitability—from understanding your P&L to dialing in gross margins, job costing, and eliminating inefficiencies in the field. Jason explains how small operational issues like dispatching, inventory, and pricing can quietly erode profit over time. On the leadership side, we talk about the transition from technician to business owner, when it makes sense to bring in a general manager, and the mindset shifts required to stop doing everything yourself. Jason also shares the most common limiting beliefs that keep owners stuck and how to start breaking through them. If your business is growing but the financial side feels unclear or inconsistent, this episode offers a practical look at what needs to change to build a more stable and profitable operation. What You Will Learn in This Episode * Why revenue alone doesn’t reflect the health of a service business * How companies can generate millions and still struggle with profitability * The role of gross margin, pricing, and cost of goods in improving profit * Why inefficiencies in dispatching, inventory, and operations hurt the bottom line * How to use job costing to identify where money is being lost * The importance of clean and accurate financials for decision-making * Why growth without structure can create bigger problems over time * When it makes sense to hire a general manager or operations leader * The most common limiting beliefs that hold business owners back * How to stop doing everything yourself and build the right team around you * The value of consistency when implementing changes in your business More From Profit & Grit Book your complimentary Financial Insight Session with Tyler Martin, fractional CFO for home services and the trades, here: http://cfointrocall.com [http://cfointrocall.com/] Learn more at http://cfomadeeasy.com [http://cfomadeeasy.com/] Follow the show for weekly interviews with HVAC, plumbing, and home service owners and experts who share what it really takes to grow, scale, and profit in the trades. If you listen to any of the following shows, we’re sure you’ll love ours too! To The Point Home Services Podcast, Toolbox for the Trades, Masters of Home Service, Home Service Business Coach With David Moerman, BlueCollar.CEO, The Home Service Expert Podcast, Next Level Pros, Blue Collar Business Podcast, Home Service Millionaire with Mike Andes, The Contractor Fight with Tom Reber, and Blue Collar Success Group. 🎙️ Profit & Grit by Tyler Martin Real stories. Real strategy. Real results for service-based business owners. 🔗 Website: ProfitAndGrit.com [https://profitandgrit.com] 📍 LinkedIn: linkedin.com/in/thinktyler [https://www.linkedin.com/in/thinktyler] 📸 Instagram & TikTok: @profitandgrit Tyler Martin, a fractional CFO for home services and the trades 📅 Want to grow your business with smarter financial strategy? Book a free intro meeting [https://calendly.com/tylermartin/intro-meeting-pg]