Generally, businesses all around the world can be categorized into three major buckets.
There are businesses that make things, like Volkswagen, Apple, and Samsung. These businesses are infrastructure heavy, often rely on global supply chains, and require research and development to stay at the forefront of their industries.
There are businesses that sell things, like Amazon, Alibaba, and Home Depot. These businesses are marketing mavericks who often make very slim margins by reselling high volumes of someone else’s products to consumers and businesses. These companies must be masters of efficiency, and are always finding ways to decrease the cost of distribution.
Then there are businesses that do things, like Deloitte, Uber, and your local neighborhood window washer. These businesses deliver value to their consumers largely by selling labor, and the ones who do it best recognize that what they’re actually selling their customer is time.
The Home Services Industry
The home services industry is largely made up of businesses that are great at doing things, and are generally led by entrepreneurs who seek to develop companies that have a reputation of superior service. In 2016, Mosaic Home Services was born with a similar goal – to acquire, scale, and franchise businesses in the home services industry. The Mosaic family recognized that the true value of what a home service business sells is the time a consumer doesn’t have to spend completing that service themselves.
Joe the window washer, Sally the maid, and Jennifer the painter are all exceptional in their trades. They’ve spent years perfecting their techniques, honing their skills, and building their businesses to dominate their local home services industry. A hard truth about their businesses though is that anyone can wash a window, clean a home, or paint a wall, even their customers. The average homeowner might not do it as quickly or as well, but at the end of the day they absolutely could go to the store, buy the materials, and spend their weekend doing the project on their own. Oftentimes this fact drives entrepreneurs in the home service industry to constantly discount in an attempt to win business, and as a result they often wind up performing the service themselves instead of hiring staff and growing a sustainable company. These entrepreneurs often build their home service business on their own backs, and, as a result, when they seek to eventually exit their business they realize that there is no inherent value for anyone to purchase; they literally are their business.
Mosaic partners with entrepreneurs in the home service sector with the goal of helping them grow a sustainable business that can be expanded using a franchise model. These entrepreneurs often need help developing sustainable systems, financing to expand in employees and space, and acquiring new customers that are willing to pay a sustainable price. Since 2016, Mosaic has invested in 10 businesses in the home services sector, leveraging their strengths to build centralized marketing, customer service, sales, and finance teams that deliver services to each of the brands. Since their inception, Mosaic has franchised 2 brands into new Western Canadian markets, bringing their unique services into entirely new markets.
The home services industry is right for us because of the three major business ‘buckets,’ it’s the only model that’s predicated on people first. Put simply, Mosaic cannot succeed without helping people. Mosaic helps entrepreneurs build better businesses, we help homeowners save time, and we help our team members build meaningful careers. There are plenty of pro’s and con’s to the other major business ‘buckets,’ but, for the team at Mosaic, people trump all. The home services industry is full of inspiring, passionate people who aim to deliver the best service in their local communities, and that’s a mission Mosaic can get behind.