@dachshund22 At the very beginning there was an incident. I was working at the time. A client called two days after the job to say the TV fell from the wall. It was a 55in Samsung, about $500 to replace.
I was nervous because I didn't have insurance so I went to Best Buy, got him a new TV and when I got to the house I realized it probably wasn't our fault because the wall mount was still on the wall.
But regardless, I got liability insurance after that. Never had to use it, but a few apartment buildings ask me to provide COI so I'd need to get it eventually anyways.
@skyl3r It’s too thorough and specific to be made up, wouldn’t make sense. He doesn’t sound like he’s trying to impress anyone and he seems humble in his responses to people.
@skyl3r You guys didn't read the numbers, did you? He's made almost 1500 sales at around $250/install. That's how you get $400k revenue over 3-4 years. That's 30-40 installs per month. That's 2 installs per day, 20 days a month. What part of this sounds outrageous and unbelievable?
@skyl3r He started by mounting himself. Now he has 4 employees. He just does the advertising and sales. 10 installs per week should be like a 10-15 minute conversation with each customer for 100-150 minutes (1.5-2.5 hours). The rest is bookkeeping, management, etc. If his workers are mostly independent, they probably don't need much babysitting. I still don't see what your problem is.
The reason nobody else is doing it is because everyone is doing the math the same way you are: "That's impossible! There's no way you could make a profit doing that!" That leaves a whole lotta market share for someone else.
@h4wk Any equipment brands you recommend that have been solid over the years? Like the type of drill and drill bits you’re using etc? Thanks in advance
@h4wk This is fantastic! Congratulations on your success. Was there ever a time when you couldn’t complete a job due to a situation with the house / wall?
What was the most complicated mounting you had to do?
@truthofjesus Thank you! There was one time we couldn't mount a TV. The client had a pull down mount that goes above the fireplace (brand: Mantel Mount), the client tried to mount but couldn't. He called us with a job half done with a complex mount. We couldn't really follow the instructions since he tried to mount, so we ended up giving up.
Regarding the wall, tile walls always give me chills because if we break one of the tiles, it could cost more to fix than what we would get to mount the TV. But we found a good drill bit to drill tile without cracking.
@h4wk Hey congrats on the success.You asked how to leverage your skills and I can think of a couple of different options here:
Business in a box: have you heard of Gym Launch? Alex Hormozi created a huge company in the gym space teaching others how to run gyms well - worth a look. While the wall mounting industry probably isn’t the one you settle on your skills will be applicable in other areas. You could build out a whole operating system and then either franchise it (as mentioned above somewhere) or just teach people.
For other ideas you can stratify the above system into individual components to sell:
Sales / lead gen for other companies in your area: basically how to generate leads from ads and then convert them into sales. This can be applied to any sort of old school boomer business but you’d probably want to concentrate for high ticket sales - care home places come to mind. Instead of creating teaching package like the first one, get paid for lead referrals or if you want more of the upside offer to close the sales too.
Other thoughts that come to mind are growing the business to cover different areas around the country / neighbouring countries (although admin work would scale proportionately).
It really depends on how much you want to work or earn.
@jesus_christ_our_lord I have two electricians that I recommend. They are not part of the business, just a recommendation for when the client wants to add a power outlet where the TV will be mounted.
@jesus_christ_our_lord I provide continuous work for them. It would not be worth making $100 - $200 extra in one job and losing a steady flow of $500 - $700 leads that they get for free. They get 3 to 5 jobs/month from me and it's a recommendation they own that lead and can choose how much to charge.
