Meet the President: From $1 Million to $17.5 Million in 10 Years
by Kelly Faloon
April 26, 2010
Benjamin Franklin Plumbing’s new president Keresa Richardson talks about business success and her new role in the industry.
Self-professed “serial entrepreneurs,” Keresa Richardson and her husband, J.R., believe the past 10 years as part of the Benjamin Franklin Plumbing family have been “pretty miraculous” for them. In 2008, the couple’s three Dallas /Fort Worth-based companies — a commercial new construction/plumbing firm (1983); a Benjamin Franklin Plumbing franchise (1999); and a commercial service and repair company (2004), which focuses on plumbing, air conditioning and refrigeration — took in $17.5 million in revenue.
In 2009, the commercial service company was up, the Benjamin Franklin franchise was up 22 percent and the new construction business was down about $2 million.
“That is pretty good growth, and with that comes double-digit profits,” she said.
The diversification the couple began back in 1999, the fairly stable housing market in Texas, and increased marketing and public relations have attributed to the company’s growth and kept it going through the recent recession, said Richardson.
Her advice to businesses trying to succeed in the current business environment is this: Stay in front of your existing customer base.
“Whether you have a Benjamin Franklin Plumbing franchise or an independent business, in times of a slow economy you want to stay in front of your existing customer base,” she noted. “That’s your most valuable asset as an individual owner.”
When they built their dream house with some of those double-digit profits, the business was running so well that J.R was able to take off work to oversee the construction. Back at work now, he’s overseeing the expansion of the Benjamin Franklin Plumbing franchise into the San Antonio and Houston areas; the company now has offices in seven Texas cities, plus Oklahoma City. This allows Keresa to focus on her new role in the industry — she has been elected to serve as president of the nationwide Benjamin Franklin Plumbing franchise group.
“The organization of the company gives us the freedom to do what we want, to give us options,” she explained. “That’s what people want in life, to pursue the things they enjoy. We have the option to work or not work — we choose to work because we enjoy it.”
A sentiment she hopes her employees share. Richardson provides benefits such as health insurance (including dental), retirement plans, and paid vacation plans, which she said are great recruiting tools. Many of the people she hires come from companies that do not offer benefits.
Another recruiting tool is advancement within the company. “We have 14 profit centers now, so our employees have many opportunities to move into higher positions with more responsibility,” she noted. “With that comes more money, but also a better lifestyle. Our employees want to provide for their families. We want to provide those opportunities for them.”
FOLLOW THE ROAD MAP
Plumbing is so ingrained in the Richardsons’ family that even the grandchildren start early!
Plumbers’ Success International turned out to be exactly what they were looking for, so they joined the group in 1999 to learn how to run a service company. It took about a year before they were ready to start their service company, just about the time when the Benjamin Franklin Plumbing concept was rolled out to PSI members.
“My husband and I immediately looked at each other and said, ‘That’s it. That’s what we want to do,’” she said. “We’d chosen another name for our company, but we called home and said that we were changing the name to Benjamin Franklin Plumbing.”
The business started out at zero sales; as the Richardsons continued implementing the programs provided by Clockwork, revenues began to grow. In 2009, their Benjamin Franklin franchise made $5 million in sales.
Richardson believes that opening a franchise, and a Benjamin Franklin Plumbing franchise in particular, is a smart decision. When she and her husband started their first business, they did everything — cleaned the office on weekends, answered the phones, booked the calls, created the marketing, and put together the budgets.
“We’ve started companies from scratch, and now having experienced a franchise, I have to say that a franchise is easier!” she said. “Hand me a ‘system in a box’ and I can implement it. And I’d like to see other companies do the same — just follow the Benjamin Franklin roadmap and they can be successful.”
PRESIDENTIAL GOALS
J.R. and Keresa Richardson, pictured here at the Cinderella Ball, the franchise awards banquet, credit the Benjamin Franklin Plumbing operational systems, as well as other Clockwork Home Services programs, with their business success.
She applauds Clockwork for electing the franchise presidents from the various brands. “It gives the individual franchisees a voice, to help the corporate office understand the day-to-day battles that we face as contractors,” she added.
“After beginning our Ben Franklin start-up company and growing it, I feel I can relate to those business owners just starting out who have a very small business as well as to those who have larger businesses,” she said. “I believe I have a good understanding of what they’re facing. I want to be a voice for them on a national level — an advocate, a servant leader — and help them to grow their businesses.”
Communicating issues from the field to Clockwork is only one matter she wants to tackle in her two-year term. Her passion is marketing and public relations, and she’s committed to ensuring each Benjamin Franklin franchisee has the best marketing plans available to keep the Benjamin Franklin Plumbing franchises top-of-mind with existing and potential customers.
A DIFFERENT PERSPECTIVE
She would like to hire women plumbers in her companies but there are few applicants in Texas, she explained. It takes many years of experience before you can take the state’s plumbing exam, and some decide to attend four years of college instead of enrolling in a four-year apprentice program.
“From an industry point of view, I think plumbing needs a female touch,” Richardson noted. “I’ve always believed that women have a different perspective on things, and it’s good to add that to the mix.”
And while women plumbers are still a scarcity in the industry, Richardson is quick to point out that there are many women business owners in the trades — many are partnered with husbands in “mom-and-pop” businesses all over the country. “They are an integral part of running those businesses,” she said.
She believes that more women will enter the trades in all industries and she encourages them to become a part of the plumbing industry. “It’s not what you do, it’s how you do what you do,” she said. “If you are professional, motivated, and excited about what you do, you can succeed.”
Kelly Faloon
