He’s LOSING $25,000 EVERY YEAR! (Is it too LATE?)

Рет қаралды 11,243

5 күн бұрын

Charles owns a junk removal business operating out of North Carolina. After a devastating year operating at -25% profit margin, and hemorrhaging cash, Charles was forced to take on over $104K in high interest debt to support his family. Struggling to get leads, he’s now underbidding jobs and paying for expensive services like Thumbtack to find more work.
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Пікірлер: 78

@richardstone5241 3 күн бұрын

DUMP THE BAD LEAD COMPANY! They are ripping you off. You would be better off to hire someone to go door to door. I did that with my business and hired a mother with children in school. She would take them to school in the morning then work door to door until it was time to pick her children up from school. SHE DID FANTASTIC!!!

@jmg8786 3 күн бұрын

How much did you pay her if your don’t mind?

@fifadailygames278 3 күн бұрын

$200 for certain amount of door hangers on her own time . But just make sure they actually put the door hanger

@user-ni8df8ho2s 3 күн бұрын

@@fifadailygames278 honest question i have a kid wanting to do the same thing but how can you guarantee they put the hangers out if i have to drive by every place to ensure jobs done. I mind as well do it myself

@Liam-nj5kf 2 күн бұрын

I guess you'd check at random a few of the areas they'd been supposed to distribute them in, I think I would be fairly obvious quite quickly if the person was being honest and doing it properly or not. @@user-ni8df8ho2s

@richardstone5241 2 күн бұрын

@@user-ni8df8ho2s Good point. Find someone honest.

@michaela2963 3 күн бұрын

Unfortunately, I don't think this business is going to make it. To not realize that paying $50 per lead and $156 for the ones that convert is a horrible idea just shows that he lacks any business knowledge. So many red flags in things he said and decisions he made. Why take a 30k loan then have the money sitting in the bank "as a cushion" and be forced to make interest payments on it? Get a line of credit instead.

@dextfittv8360 3 күн бұрын

That pool and deck removal would be minimum 3k

@dextfittv8360 3 күн бұрын

Probably close to 5 grand here in Texas with it being full like that.

@nathanhearn2069 3 күн бұрын

Little bit of a victim mindset in my opinion. Thumbtack greedy taking all of their money, Google hard to deal with, multiple terrible internet companies, etc. Go out there and take control bro!!!

@jonathanbailey4904 2 күн бұрын

I wouldn't necessarily say it's a victim mindset as much as it is just not knowing where to go and what services to use/trust. I run a small plumbing company, and in the beginning, I made some of the same mistakes. I didn't know anything about SEO or the legalities of taxes, licensing, etc. Some of it is just trial and error and not allowing those mistakes to put you under.

@yakimawindowwashing 3 күн бұрын

Rest in peace to your brother! I lost my mom to the same thing and it's a horrible thing because it just happened so quick. Keep up the hard work man and don't give up everybody always needs junk removal!

@Bambamlynch704 3 күн бұрын

I work full time and do Junk removal on weekends

@DONNYWILLAMS 2 күн бұрын

The low bidder always goes out of business ! ( mic drop ) Make $ or go bass fishing

@ethanking4954 2 күн бұрын

This is the truth right here

@Frank_inSA Күн бұрын

And they destroy the market for everybody else...

@stevehughes7224 3 күн бұрын

I understand your pain with Google. I had the same thing for over 5 months. I was pulling my hair out. Why, just why can they not tell you the reason for a suspension.

@RayWilliamJohansen 2 күн бұрын

Thumbtack was okish, but it pissed me off when they would give me trash leads and still charged me. Craigslist is where ive found most of my clients but it is CROWDED.

@Bambamlynch704 3 күн бұрын

So glad u did this video I have a junk removal/demo company in Charlotte area

@markdickinson-pd4ip 2 күн бұрын

This guy is a great human! I hope everything works out for him!👍🏻✌🏻

@nicholasmendoza6159 2 күн бұрын

You littery took the lowest profit margin part of home care and made it into a specialty. Get into demo for remodeling etc.

@raulsortiz6334 3 күн бұрын

What I look forward to the most 🎉🎉🎉

@PremiumFuelOnly 3 күн бұрын

Those are some nice trailers. If I was him, id just get a job and rent those trailers out part time.

@Jack_of_1_Trade 3 күн бұрын

WE WANT MORE!!!!!! Make more videos Mike & Team!!! 😂😂😂😂😂

@BoStaggs-cr5lc 3 күн бұрын

What happened about the new guy wrecking his truck?

@nicholasmendoza6159 2 күн бұрын

Talk about not charging enough. $350+ dump fees would be the bare minimum. Dont even start the truck for less than $350

@DONNYWILLAMS 2 күн бұрын

and sorry you been through some junk hauling the junk...tuff beat...stay deliberate and laser focused and make dat $$$

@raulsortiz6334 3 күн бұрын

Let's go!!!!!!!

@tylerk.7947 3 күн бұрын

Man seems like this guy is really learning everything the hard way. Wish he could go back in time and learn a little bit more about running a business before starting. Some of these lessons hurt.

@J87Visuals 2 күн бұрын

How the hell do people end up like this? Business= get a truck, remove junk... Simple!!! Hundreds of thousands in debt? That's utterly ridiculous.

@roadiez1 3 күн бұрын

Sorry my post is long winded.... But wish you the best!

@user-ni8df8ho2s 3 күн бұрын

so if his wife is home and cant work can she not run SALES AND ADMINISTRATIVE PART be an ASSET to her husband and her family instead of a drain as he says himself its 2024 were all about equity and equal rights. SO GET ON IT HUN. SMH

@herbie3smith 3 күн бұрын

That’s so sad that’s my biggest fear.

@brodarryl 3 сағат бұрын

Hey Mike, thank you for your insight. You mentioned in a C. Suite episode an example of a business owner who took his personal living expenses like debt payments and baked it into his business overhead/operating. Maybe in that scenario you take away very little profit on but it would insure small business owners who have yet to separate business from personal finances are able to atleast pay their bills. Do you have a formula you can share on how to calculate price per man hour that would include personal debts and overhead recovery?

@DobbsMatt Күн бұрын

Great video, best of luck to the owner! Deck removal gotta be at least 24 budgeted hours plus dump fees Probably more like 32BH and $600 dump fees $3-4k

@andrewjedi 7 минут бұрын

Tell Charles I will help him!

@DONNYWILLAMS 2 күн бұрын

Best of luck though...You on the right track ...post bandit signs near your landfills...people tired of hauling the garb with no time...gets out the check book when sweat starts rolling lol

@yodaddy4944 Күн бұрын

Understand gross revenue vs net profit, people!

@cc-tb3st 3 күн бұрын

Oh my gosh, this guy's a winner. He figured out that every business out there is in it for themselves and doesn't care about you. I wonder how much money it cost him to figure that out? This guy definitely shouldn't be self-employed. He needs someone else to set up systems that he works in he doesn't really know how to do this self-employment thing. I would hate to see his taxes.

@mountainlife8666 3 күн бұрын

Noooo

@TheArchivesGame 3 күн бұрын

Alpha Care Plus

@CastleRockSprinklerService Күн бұрын

Dude needs to realize being self employed is not for him. Get a full time job and then a part time job on the weekends.

@seanf6632 3 күн бұрын

1100???? Wow that's cheap

@everardojimenez5702 3 күн бұрын

Mike - you should grow your beard bro 😎

@MikeAndes 2 күн бұрын

That would be a career ending decision 😂😂😂😂

@everardojimenez5702 2 күн бұрын

@@MikeAndes haha 😆 hilarious! Love your content !

@ethanking4954 2 күн бұрын

Thumbtack isn't worth it if you don't have big ticket products.

@nicholasmendoza6159 2 күн бұрын

If you have 200 competitors, you need to change your business model and only take more profitable junk removal jobs.

@jeffreyrobson2740 3 күн бұрын

trying using fb marketing or you local buy selling they will let advertisers your business

@robbs96 2 күн бұрын

Thumbtack sounds almost as bad as Yelp

@trentneville2273 4 сағат бұрын

Or home advisor 🤮

@DDHJunkHaulers 3 күн бұрын

Come see me. I'm in Mooresville nc.

@wethepeople_usa 4 сағат бұрын

anyone struggling with sales let me know. Ill get you on track. (Performance Lead Generation) any industry.

@herbie3smith 3 күн бұрын

He needs to increase minimum price $400 a load? For that trailer? That’s way too cheap it cost 100 to fill the truck

@Smoke3488 2 күн бұрын

It's not bad at all. I have a 15vyard trailer and charge around the same price, not including dump fees and yet my business has a 60-70% profit margin on residential waste.

@herbie3smith 2 күн бұрын

@@Smoke3488 how big do you think his trailers are I have watched a group of kids that do junk removal and I don’t think they are in nc but they seem to charge ALOT they did a smaller building maybe 10x15 we will call it 20x15 and charged over $4k to tear down and remove I felt like $1100 was way too low for that pool drain removal and deck tear out. I’ve drained a pool like that and it’s a MESS and takes FOREVER. I work in the HVAC industry so I’m not going to act like I know junk removal pricing like I do hvac pricing.

@Smoke3488 Күн бұрын

@herbie3smith Yes, his quote for the pool and deck was way too low. As it takes a lot of man hours to cut it all down and load it. But that trailer looks to be the same size as ours 14ft X 7ft X 4ft.

@eag8999 Күн бұрын

@@Smoke3488Your margins are not that high. If you're not including all the costs AND what it would take to pay someone to do the job, then that is not the margin.

@alchemyalligator4431 3 күн бұрын

could the wife do something from home, for just an hour or two a day, to help with some extra money? good luck with it all. .....like you said everybody is going through something.

@Zwrld781 2 күн бұрын

Math don’t make sense…. Silly business

@mountainlife8666 3 күн бұрын

He doesn't know junk or how to grow a business

@BLLandworks 3 күн бұрын

Dude needs to do more research before making some of these decisions. 30% interest?! Didn’t know about quarterly taxes? Paying for leads? Doesn’t make any sense

@Sodsquad 2 күн бұрын

Paying for leads is not really the problem the problem is the guy doesn’t think

@johngarcia-qi9yb Күн бұрын

Fuc is he paying tax for if he is in the red. & that loan is only to be floated and paid off within 45 days. I took a 35k loan from QuickBooks and paid it off within 45 days paid minimal interest & secured a rental property. He is sitting on it paying interest for a cushion is beyond me.