Busy doesn’t always mean profitable—and for too many home service business owners, that truth hits hard. You’re putting in the hours, keeping customers happy, and still wondering why your bank account doesn’t reflect all that effort. In today’s episode, I’m revisiting a conversation with Jeremy Lowe to talk shop about how to shift your service department from barely breaking even to actually pulling its weight. We’ll walk through real-world strategies you can use to tighten things up, plug the leaks, and thrive financially—even when the economy feels uncertain and tariff consequences loom.
What You’ll Learn…
- Why most home service businesses leave money on the table
- How your service department might be draining profits
- The mindset shift that sets top contractors apart
- Thrive financially by knowing your numbers like a pro
- Pricing isn’t just rates—it’s the value you deliver
- Thrive financially by making customer expectations work for you
- Why working harder doesn’t mean making more
The key moments:
- [00:02] Jeremy Lowe’s background in HVAC
- [05:08] Lessons from other industries that still apply to home service
- [11:01] Breaking down revenue and overhead
- [20:07] How Profit First helps you thrive financially
- [25:15] Working on your business—not just in it
- [31:30] Pricing service work the right way
- [36:03] Building loyalty and thriving financially through better service
Jeremy Lowe’s Background in HVAC
Jeremy Lowe brings real-world experience that speaks to every home service contractor out there. He started as an HVAC tech and worked his way up to managing a $14 million business. His success didn’t come from guesswork—it came from learning what it really takes to run a business that supports your life. You can thrive financially by following the same principles that took Jeremy from the field to the front office. With four decades under his belt, he’s seen the ups, the downs, and everything in between—and figured out how to keep a business steady through it all.
Lessons from Other Industries that Still Apply to Home Service
Jeremy’s taught folks across all kinds of service industries—from framers to dog boarders—and here’s what he knows: good business is good business, no matter the trade. The same basics apply—your time is limited, your pricing has to make sense, and your systems need to run clean. You thrive financially by paying attention to what’s working outside your own bubble. Sometimes, the best ideas come from places you wouldn’t expect.
Breaking Down Revenue and Overhead
If you’re only looking at gross margin, you’re not getting the full picture. A department might look profitable until you dig into labor and overhead costs. The only way to thrive financially is by breaking out your numbers the right way and making sure every dollar is doing its job. Jeremy’s big on tracking expenses by department so you know exactly where you’re winning—and where you’re bleeding cash. That kind of clarity helps you make smarter decisions, faster.
How Profit First Helps You Thrive Financially
Profit First flips the usual money routine on its head—and that’s a good thing. Instead of spending first and hoping for leftovers, you set aside profit up front. You can give every dollar a job, with accounts for taxes, savings, and reinvestment. It takes discipline, sure, but it also gives you breathing room—and that’s what keeps stress low and stability high. Jeremy’s advice? The system works, but only if your pricing is right and your spending stays in check.
Working on Your Business—Not Just in It
It’s easy to get stuck in the daily grind—running from call to call, solving problems as they pop up. But if you want your business to thrive financially, you’ve got to zoom out. Step back, learn from others, and make time to work on your business, not just in it. Jeremy’s big on education—trade shows, peer groups, whatever helps you level up. Growth doesn’t happen by accident. It happens when you make space for it.
Pricing Service Work the Right Way
Pricing isn’t just a number you pull out of thin air—or copy from the guy down the road. It needs to reflect your true costs, your goals, and the value you deliver. If you want to thrive financially you need to be pricing with intention, not emotion. Jeremy recommends getting clear on labor, overhead, and margins—so every job pays what it should. Guesswork doesn’t pay the bills, but smart pricing does.
Building Loyalty and Thriving Financially Through Better Service
Good service isn’t about doing the bare minimum—it’s about doing what your customers don’t expect. Creating experiences that make people want to come back—and tell their friends is where the magic happens. Change the battery. Offer to swap a filter. Take five extra minutes to explain what you did. Those small touches build trust, and trust builds loyalty. And loyal customers don’t shop for the cheapest price—they stick with the business that treats them right. Building customer loyalty intentionally is the key thing that will help you thrive financially, no matter the economic circumstances.
About Jeremy Lowe
With more than 40 years of HVAC experience under his belt, Jeremy Lowe speaks to thousands of business owners and managers about building profit in service departments. He started in the field as a HVAC technician and worked his way up to managing a contracting firm worth $14 million. He uses that storied background to teach contractors, publish articles and speak at trade shows about how to improve their businesses, but his Pricing for Profit boot camp is the best way to really understand what he offers and why it is important to grasp what profit really means. More than 1,000 contractors have taken this two-day immersive course and came out of this boot camp with a firm understanding of their business.
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