How To Turn Warranties Into Profits For Your Home Service Business with Tim Byrd

Some of the biggest hidden profit leaks in a home service business are sitting in your warranties. Every callback pulls a tech off a paying job. You eat the cost, and it comes straight out of today's cash flow.

My guest, Tim Byrd of Warranty-RE, has spent 32 years helping car dealers set up and own their own warranty companies. Now he's doing the same thing for home service businesses. He told me about an HVAC owner he met in Scottsdale who was sending $600,000 a year to a third-party warranty company. His claims didn't come anywhere close to that.

If you're building a profitable HVAC business or trying to protect your roofing contractor profits, this conversation shows you how to stop callbacks from hurting profits and start keeping the premiums you collect.

What You'll Learn:

Why third-party warranties send out more money than they ever pay back

How owning your own captive insurance company keeps warranty premiums in your pocket

How an 831b company lets warranty premiums grow without being taxed

Why the labor on every unit you install stays on you for years

How old warranties can hold up the sale of your business

How one of Tim's customers used his warranty company to fund his son's home

Key Moments:

1:51 The $600K A Year Warranty Problem