Miguel Loreto of Ventura Country Plumbing & Rooter Grew Almost 300% Last Year at a 25% Net Profit by Preaching to His Team the Importance of Serving One Customer to the Best of Their Ability.
Like many before him, Miguel found out that being a great tech doesn’t always transition to becoming a great businessperson. He hustled. He scrapped. He was making a living—until the recession hit. He was left with $1.5 Million in receivables he’d never collect. Miguel went to work for a friend for a bit, to get his feet back under himself. Then, he gave business another go. He met the SGI family, and with a little direction, he’s flourished. Ventura County Plumbing & Rooter sales tripled in his first full year as a member with the system implemented, jumping to roughly $840,000 in revenue. Here’s the best part: That number came with a 25 percent profit margin! In 2019, Miguel said the business is on pace to almost double—again, at a great margin. Miguel is a mover and shaker.
The COMPASS Magazine had an opportunity to sit down with Miguel at a recent Expo to capture his thoughts on video. We hope you enjoy. And if you’d like to learn more about Ventura County, the in-depth feature in The COMPASS Magazine can be found here.
00:17: How did you get started in the plumbing trade?
00:49: You’ve only been an SGI member for a year and a half. Why did you join?
02:08: What were your thoughts after going to Profit Day?
03:09: What made you finally decide to attend Executive Perspective?
05:04: What initial changes did you know you needed to make immediately?
06:12: What kind of jump did you see in the business?
06:53: How many techs do you have now?
07:17: What kind of training have you been doing to get that many up and running quickly?
08:29: Your drain cleaning business has really picked up, has it not?
08:59: You use cameras on every job?
09:48: You began offering options beyond digs, correct?
10:15: On those big jobs, has financing really helped?
10:59: You’re still so new into SGI. What things are you working on now to continue to grow?
12:46: What are your goals for 2019?
13:21: Where were you at the end of 2018?
13:33: And where did you start in 2017?
13:45: Can you believe you’ve grown this much, this quickly?
14:39: So, you must be looking for more plumbers right now?
15:13: Where do you see the business in the future?
16:01: What benefit has there been attending Expo and networking with the other members?