Articles Tagged with ''business advice''

Sibling entrepreneurs Trey McWilliams and Crystal Williams aim to provide home service business owners the tools to succeed while strengthening their personal relationships

As many companies adopt growth-oriented language, it’s important to explore the tactical strategies behind it. Key benchmarks to consider include: What roles do we need to fill in the next few years? How do we retain our experienced employees? Who is our ideal customer and how many will we have in three years? What are our projected revenues in 5 and 10 years? Are our plans aligned with healthy gross and EBITDA margins?

For home service companies, it's important to stay up to date on the latest in search engine trends, especially when it comes to AI. 

ServiceTitan released its third annual Commercial Service Market Report, which surveyed over 1,000 commercial owners and executives across the trades. The report reveals that 66% of commercial contractors said they entered 2025 with stable or growing revenues, even as they have faced persistent headwinds like a skilled labor shortage (52%), rising labor and overhead costs (45%), and longer material lead times (31%). More than half (53%) expressed optimism about the market.

 The kickoff event, featuring speaker Sheena Yap Chan, will take place July 16 and offer strategies for building confidence in a rapidly changing industry.

Registration is open now, with sessions beginning in September. 

Sustainable leadership in home services focuses on long-term success by investing in people and processes. Companies with this approach see 47% higher revenue growth and 36% greater profitability, while those offering professional development enjoy 94% higher employee retention.

Jane Withers' character, “Josephine the Plumber,” in Comet commercials was popular in the 1960s and 1970s. However, women remain underrepresented in plumbing, which faces a shortage of service plumbers. Recruiting more women could help address this shortage.

The plumbing industry faces a projected shortage of 550,000 plumbers by 2027, costing skilled trades $5.3 billion annually in hiring and training. However, a rising number of young adults are choosing trade school, which may introduce new talent and challenges for business owners.