Who's Getting The Profit Trades To Get Into

The home repair and construction trades are blowing up cost wise. Phil explains what some jobs cost to do versus the profit. Don't be mad at the repair person, unless they own the company the money is going into the boss's pocket.

⏱️⏱️Chapters⏱️⏱️
00:00 Intro
00:12 The mini-splits using flare fittings is probably why you're seeing expensive flare tools
00:25 AC guys are making so much money
00:45 So are electricians and plumbers
01:15 Will you have to deal with it? Depends.
01:30 You're paying for their skill and willingness to do the dirty job
01:45 The guys doing the work, the techs don't make that much
02:25 Cost breakdown for an AC
03:10 Plumbers and a water heater cost break down
03:40 The trades will be making the big bucks in the future

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Transcript:
Which is probably why now all of a sudden there's this real fancy automatic $300 flare tool, available online because the air conditioning guys are making so much money that they can afford to buy platinum covered, they'll be something there'll be a 2 to $3000 flaring tool come out. They'll massage your back while you're doing it. You put it on like a armor thing. Believe me, these guys are making way too much money.

But so are electricians and plumbers. The those guys don't. They buy big buildings and fancy trucks and I believe too greedy. And then all the inspectors are all kind of their buddies, you know, even though they fail them from time to time because they all believe in having high end stuff done. Is it necessary? No. Are you going to deal with it?

Yes. You’ll have to deal with it. The fact that you know, that they're ripping you off. That don't make you feel better that they're making a huge, exorbitant amount of money that doesn't make you better either. But you don't. You didn't go through the route of learning how to be an air conditioned guy or a plumber or elect... electrician. You learn to do something else.

So that's the choices that they have now. By the way, the guys who do the actual work, they don't get paid that much. They don't get paid as much as a dump truck driver generally. Unless you live in a union town or state. They don't get paid that much. The owner, that’s who gets paid. So you really have to learn about air conditioning and then become an owner in order to make the money that they're making for the company.

So don't be so mad at the technician who comes out because he doesn't get paid that huge money. It's the owner of the business. And that might be the technician that you're dealing with. If he's the just starting out, he's just putting that money into his pocket. Is that a three ton air conditioning updraft or downdraft? It's like with the split system, not like this three grand, three grand.

But they're not going to charge you four or five grand to put it in. They're going to charge you anywhere from 7 to 12000. That's not a new that's reusing the ductwork you already have. So if we know that there's some pipe to be put in and there's some Freon to be put in, there's labor, we can allow thousand dollars. So we got four grand in and the charging somewhere between seven and 12.

Tell me if there is a lot of profit in that. Plumbers charging $2,500 to put in water heaters, a lot of profit. The water heater is anywhere from 6 to $800. Check valves, 100 bucks or so expansion tank, 40-50, labor to put it in less than less than 500. So you're at seven 800 total charge and 2500. Yeah.

Plumbers, electricians, electricians in the future will be making a ton of money because you don't know. It's like your mechanic you don't know how to fix. You did not learn that they did. They're the ones out in the weather everyday getting dirty. So you're going to have to deal with it. Yeah. Hopefully you can find somebody. This makes a modest amount of money.

All right. We'll let you go.