Nathan

I’ll send the bid though whatever 😂

Another day, another restoration contractor opening up $50k worth of build back for a simple concentrated leak. These guys are unbelievable. Insurance companies need to vet better. Completely unnecessary. Hard to believe this is happening with no oversight.

@nmyprime Yup don’t doubt it. Maybe someday we’ll do a DBA and get a division set up for it

@homeservguy Very slimy. I have franchise in north Atlanta and we do things by the book but few of our competitions do. Extremely lucrative even doing things the right way however

I’ve yet to come across a restoration company who isn’t out to just rip off insurance. Especially the ones doing build back. Completely unnecessary gutting of walls/cabinets/flooring and the work done is a hack job.

We’ve been getting a ton of spam calls at work from people/recordings with Indian accents recently. Got a call a few days back, Indian accent, was about to just hang up until I realized it was legit. Ended up being a $40k estimate 😂

@ShelbyGrosch It’s pretty frustrating watching it happen. Very slimy.

@homeservguy A couple other industries that follow the same playbook..

We’re still small but these are big wins and I’m extremely proud of the guys on an otherwise very difficult year.

2025 revenue is up 35% YOY and net profits up 100% Provided for over 40+ people directly (employees + family) We‘ve been able to offer up to 80/hrs PTO, two paid holidays, and pay monthly performance bonuses + EOY bonus. Shooting for full benefits by end of Q1.

@ryanraysr @ghcDrew Ah, yes especially at that size. He wants to stay on until he retires in 5-10 years

@homeservguy @ghcDrew asking because if people are hiring because they know/like him then that can go away without him there

Have a friend who wants to sell painting business. Does ~ $1 mil/revenue at 20-25% margins. Just him and 3-4 guys year round, plus 3-4 during busy season. Certainly gets a ton of *free* leads (very little marketing) What’s it worth?

@JoshBobrowsky He wants to sell to us, stay on as an estimator for at least 5-10 years until he retires, all equipment comes with it. The team would stay but tbh the real value is his phone number more than anything else.

@homeservguy A lot of it comes down to the details on this Will team stay if your friend leaves, whats the lease, what if any equipment, what city What percentage does he want in cash, what will he take in earn out Etc etc If I had to guess... Probably $300-600k but hard without details

@aemberson2 Interesting, thank you for sharing this!

@homeservguy Broker here. Every owner I talk to wants us to do a valuation for them. Takes time and resources so I've been pointing them to napkinmathvaluation.com No affiliation but it seems to do the trick for people just looking for a range. Hope it's helpful.

@ghcDrew @ryanraysr Yes. The only advertising he’s done is LSA and it’s minimal

@ryanraysr @homeservguy Word of mouth and repeat customers.

@sodacitysimpson Agree

@homeservguy It’s worth 1-2 times max

@nmyprime Little high IMO but it’s a solid foundation

@homeservguy 625k without knowing equipment and real estate and vehicles etc

@andrew_7035 Never even heard of it!

@homeservguy Has he checked out Dealonomy? They’ll do an evaluation + no cost to sell.

I’ve had a few guys doing some light renovation work in our bathroom this week. Good reminder of how disruptive interior remodel work is for families, even small jobs. Get those remodels done ASAP! 😂

4 years ago I was driving around doing work orders for PM companies out of my farm truck. Fast forward to today, we’re 14+ employees strong and one of the highest rated remodel/repair contractors in our county. Others have done much more (& much quicker). But given the circumstances of those 4 years (4 kids plus twins coming and severe financial distress with other business)…I’m incredibly grateful. Lots of work ahead of us. But for the first time since we started, things feel stable. God is good. If you’re deep in it, keep going. It gets better.

@_alextoler @stevehunsaker1 @ToddLlewellyn (& claims can occur from years prior particularly with GL but WC is a different story)

I’m aware of that, what’s frustrating is retroactive billing when no claims were filed at full rates. Not to mention burden of tracking different class codes. Having said that, I get it. They’re running a business too. But certainly something that shocks you the first time it happens

Saw @ToddLlewellyn tweet about how every year the workman’s comp audit turns into an additional bill. Our payroll is about 20% higher than we anticipated so I’m looking forward to my annual year end hemorrhoid at the hands of the insurers this month. SMB fun.