Building H2Joe, Selling to Your Tech & Creating Pool Trader

Today I'm talking to Joe Wilmot, the owner and creator of Pool Trader. Joe, welcome.

Thank you. Nice to be here.

How did you get your start in the pool service business?

It was around 2005. I was in a bit of a career shift, and one of my best friends was already in the pool industry for about 10 years. We just got talking one day, and he hired me to clean filters for him. As the months went on, making a little extra side cash, I just fell in love with the business model of the pool industry.

What were you doing beforehand?

As an electrician. I still am to a degree — I can't seem to shake it. I grew up with it. I was born and raised into an electrical contractor's household.

Were there any significant differences from pools versus being an electrician?

We moved to Arizona in 2005. I'm originally from Ohio. I fell in love with just the recurring revenue. We'd go here every week and charge 25 bucks every week. With electrical, you might wire a brand new house and then it's done. Service calls are intermittent, not predictable. The recurring revenue of that service stop — and how profitable that was — made so much sense to me. I really fell in love with it when it all came together.

How did you go about getting your first few pools?

My very first pool was from my best friend who taught me the business. He got a referral customer that was almost 35 to 40 minutes away — he didn't want it because he was already consolidated into Fountain Hills. So he passed the lead to me. From there, I went through word of mouth mostly. I got magnet signs on my truck pretty quick. And everybody fell in love with the business name: H2Joe. "If your personality is anything like your business name, I want you as my pool guy." I owe a lot to coming up with that name.

What was the thinking behind selling H2Joe to your tech?

We said a number out loud and we were instantly on the same page. Almost no negotiation. He just took ownership of my phone number. All of a sudden I'm not answering it — now it was him. The transition was literally seamless. It was one of those things where we both knew it was the right move and we just made it happen.

What's the state of the pool route market right now?

Right now, buyers outnumber sellers 10, maybe 20 to 1. The amount of routes for sale is at a low right now — which actually means it's a good time to be selling, if you're a seller. If you're in a position where your route is dialed in and profitable, there are a lot of motivated buyers out there who will pay fair value.

How does Pool Trader work?

Brokers used to lock you into a 12-month exclusive contract. They've since changed that — no contracts now. I think Pool Trader is the reason they're steadily dropping these old criteria and yielding to the private party market. Pool Trader is free to use. It's at pooltrader.net and we have a Facebook group with over 4,600 members. It's a place where pool service pros can list routes for sale, find buyers, and make deals without middlemen taking a cut.