GUEST EDITORIAL: As a Plumber, Are You Getting Paid What You're Worth?
May 17th, 2017 10:15am
Whether or not your plumbing company uses flat rate, a continual fluctuation of your billable hour or guesswork when it comes to pricing a repair, are you getting paid what you're worth? Are you losing money every day you send your plumbers out into the field? How often have you taken your "profit" and flushed it down the proverbial toilet? That is, if you're even making a profit. When the pressure is heavy, and you're wondering how you're going to make payroll, pay the utilities, keep a nice fleet, have a warehouse stocked with inventory, send your techs to training and have the best dispatching software money can buy, are you wanting to call it quits?

My company struggled for years. And by struggle, I mean I was thousands in debt and really didn't know if I would ever get out. I felt as though I was on this cruel ride that was never going to end. Until the day, I had this life changing epiphany and asked myself the following question. What do McDonalds, Home Depot and Best Buy have in common? The answer, they virtually have NO PRICING OBJECTIONS, NO SALES RESISTANCE AND NO BUYER'S REMORSE! The very things that kept my average tickets at bare minimum and kept me from putting money in the bank.

After years of studying human buying patterns, we finally figured out the secret behind why McDonalds, Home Depot and Best Buy are so profitable. These three companies simply put their products on a menu or on a shelf, provide several pricing options to choose from and make huge profits. In retail stores, the bottom shelf is usually the cheapest and the top shelf is usually the most expensive. As a consumer, we typically know what we want and how much money we are willing to pay for it before we make the actual purchase. You may not realize it, but you buy this way all the time. We buy based on what we perceive to be the best value for what we have chosen to purchase. Think about it. When you go to McDonalds, you choose from a menu of options and more times than not, it's usually a value meal. Why? Because you want the fries and drink, and it's cheaper in the value meal than if you were to pay for them a la carte. And, believe you me, McDonalds isn't losing money on a value meal, they just made more money by structuring their pricing in a package. So, what if you showed your customer a menu of five valuable service options, without part names and then allowed them to choose the most valuable service option that is best for them? Isn't that what these companies are doing? It works, it's proven and it's mega profitable!

Out of years of struggling to be profitable in my own plumbing, HVAC and electrical company and spending hundreds of thousands of dollars trying to figure out what I was missing, The New Flat Rate was born. It clicked! I can do what McDonalds, Home Depot and Best Buy do in my own business. Why hadn't I thought of this twenty years ago? With The New Flat Rate, the customer reads a menu of five service options, in lingo that they understand and then chooses which one they want. Do they always pick the most expensive option? No. But, the system has shown that most people don't want the lowest priced option available. They want what they consider to be the most valuable for the budget they have...some the lowest and some the highest.

The New Flat Rate is the first ever HVAC, plumbing and electrical service menu pricing system. Does this spark your curiosity? Can you picture yourself standing in Home Depot or driving through the drive through at McDonalds and doing exactly what we said? I would bet so.

Would you like to learn more? Join us for a FREE one day business seminar in Atlanta, Georgia on June 23rd, 2017. You will get an in-depth look at The New Flat Rate, hear from contractors who are successfully using this menu pricing system and are three times more profitable than they were before they started the system. And if that wasn't enough, you will learn how to put the profit back into your business and uncover hidden business obstacles. Whether you join our team or not, you will leave better off than when you came...GUARANTEED. Register today to save a seat for you and a guest: www.FutureOfFlatRate.com.

Rodney Koop
- CEO and Founder of The New Flat Rate, is a motivational speaker, author, entrepreneur, and solutions based enthusiast. Over the last three decades, Koop has founded and sold HVAC, Electrical, and Plumbing service companies. Koop is a Master Electrician holding 10 unrestricted electrical licenses and has helped to write and qualify exam questions for state board testing. During his career, Koop has contributed numerous articles and industry assessments to multiple publications and recently authored his first book. Koop is dedicated to challenging all audiences to utilize their brains in creative ways for growing their companies. Working from a place of strength is Koop's motto, where he believes success and advancement can be achieved with the right tools in our expertise. When he's not advancing his company forward, Koop can be found on the trails riding one of his four-wheelers or traveling around the world with his wife Karen.