How to Buy and Operate an Appliance Repair Business | John Schooler Interview

John Schooler was a guest last year, shortly after buying an appliance repair business in South Carolina. In that interview we covered all the details of his acquisition, including the many attractive features of the business:

It was a need-to-have service.
It had contracts with home warranty providers & appliance manufacturers that supplied a steady stream of business.
The owner worked probably less than 10 hours per week.
There was a strong culture in the little company.

❤️ Enjoy this interview? SUBSCRIBE for more: https://bit.ly/42hLnN0 ❤️

Well, John and I spoke during what he now reflects back on as “the honeymoon”. Sometime later, he hit choppy waters, including losing a customer that accounted for 20% of his revenue. It got dark. It was hard.

And one of my favorite parts of this catch-up with John is where we discuss what this "hard" really feels like. It can be trite to say "small business is hard". John himself had heard that a hundred times before he bought his business, but it was only once he experienced the crucible himself that he really understood the special, merciless species of hard that small business can be.

He survived, and the business is stronger for it. So, there is both darkness and light in this episode.

In fact, John is quite optimistic for the future and remains as confident in his decision to go down this path as ever.

(00:00) John buys an appliance repair business
(03:54) The business loses a big customer
(07:33) What John would do differently from day one
(12:21) What John learned about retaining employees
(15:12) How John trains technicians
(18:20) Day to day operations of an appliance repair business
(24:27) What is hard about running a business
(27:42) Fear of failure as a CEO
(34:23) Plans to buy more businesses
(40:44) END

CONNECT with the Acquiring Minds podcast, socials, etc.
🎧 Podcast on Spotify: https://open.spotify.com/show/2vZrl0u...
🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast...
👉 Get notified of new interviews: https://acquiringminds.co
👉 Follow host Will Smith on Twitter:   / whentheresawill  
👉 Connect with host Will Smith on LinkedIn:   / willsmithsf  

ABOUT Acquiring Minds
Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week.

#appliancebusiness #repairbusiness #appliance