#96 - Business Breakdown: How to Make $8.4M with Well Drilling

Owned and Operated - A Plumbing, Electrical, and HVAC Growth Podcast

In this episode, John and Jack discuss well drilling and do a business breakdown. Jack reveals that his friend earned $8.4 million last year from drilling wells. They underscore the significant financial investment, specific licensing requirements, and mechanical expertise needed to establish a well drilling company. Despite these obstacles, they remain optimistic about the potential for future business opportunities in the industry.

Episode Hosts:

• John Wilson: @WilsonCompanies
• Jack Carr: @thehvacjack
  
  

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John Wilson, CEO of Wilson Companies
https://www.wilsonplumbingandheating.com
Jack Carr, CEO of Rapid HVAC
https://rapidhvactn.com

Luvut

1. AR Challenges and Cash Flow Management (00:00:00)

2. Planning for Seasonal Tune-ups (00:05:06)

3. Considering Well Drilling as a Business (00:07:35)

4. Margins and Expenses Analysis (00:08:56)

5. Word-of-Mouth Marketing Strategy (00:16:03)

6. Competitors and Revenue per Employee (00:16:59)

7. Importance of Heavy Asset Businesses (00:22:54)

8. Starting a Well Drilling Business (00:25:00)

9. Financing and Reselling Equipment (00:28:53)