Episode 145: Pricing Matrix - A Guide to Determine Your Rates with Rich Gallo of Pure Swim
Listen to the episode on Apple Podcasts, Spotify, Stitcher, Soundcloud, Google Podcasts, Youtube, or on your favorite podcast platform
Episode Summary
In this episode, we welcome back our friend Rich Gallo who is the Founder and CEO of Pure Swim Inc., an all-inclusive concierge swimming pool maintenance and repair company based out of Valencia, CA. In today’s conversation, Rich offers nuggets of advice to build up your confidence in your business processes and, by extension, yourself as a pool professional.
As Rich makes clear throughout our discussion, he has nothing but love for the industry and does whatever he can to pay it forward. Rich shared with us that his purpose and goal for doing this episode is to step up and help the people in our industry that are seeking next-level type help.
Part of getting to that next-level is understanding what it actually costs to run your specific business, and we don’t mean just having cash flow. We mean being able to pay your team well, offer a professional service, pay all of your bills, and still achieve the profit you are looking to bring in.
Listen in as Rich speaks on the importance of dialing in your pricing matrix as a pool service professional and how doing so can help you eliminate waste and build a more profitable business.
Pricing matrix
Thanks to episode 145 guest, Rich Gallo, we were able to put this comprehensive pricing matrix together so you can apply it to your business.
Topics Discussed
03:15 - What is a “pricing matrix” and why is it important for pool professionals?
12:56 - Discussing labor costs and what quality labor looks like
24:07 - Employees should come before your customers
30:40 - Breaking down labor costs
36:27 - Only compete with yourself
38:10 - Gain confidence in charging above-average prices by creating the perfect service
43:48 - Breaking down costs for your vehicles
45:33 - Breaking down chemical costs
49:24 - Breaking down overhead costs
58:30 - Knowing your opportunity cost
1:05:58 - Making your job exciting and not worrying about unexpected setbacks
1:08:18 - Creating customers for life
1:13:12 - Why repairs are not a factor of the pricing matrix
1:21:15 - Dialing in your costs and how to charge for your services
1:24:23 - How to raise your rates
Key Quotes From Episode
What we really want to do with your price matrix is to look not at what you’re doing currently, but at what you want to do and should be doing.
We don’t want to walk into a backyard and have to be on trial and justify why we charge what we charge. The position we want to be in is to be able to say, “Listen, we’re here for a reason. We’ve been invited to your backyard because you’re looking for results, and we want to convey those results immediately.”
Pool service has three facets: There’s the cleaning, the chemistry, and the equipment.
Your employees should come before your customers. If you don’t have employees, you don’t have customers.
No one’s going to tell you you’re worth more than what you tell yourself. If you’re in your head, you’re dead.
If you want to charge more, you have to give more. It’s value-added service.
