The Patch Boys of Huntsville & Decatur owner and former pilot John Moore joins Yahoo Finance Live to discuss his career transition into becoming a home services business owner and advertising to homeowners during the pandemic.
- Welcome back to Yahoo Finance Live, and let's take a look at where the three major stock indices closed out today's session just about 32 minutes ago. And as we can see, a lot of red across the board here, the Dow Jones Industrial average closing down for a fourth straight weekly loss. During today's session, down about 180 points or about half a percent. The biggest laggards in that index have been Boeing, American Express, and Visa.
Then, turning now to the S&P 500, that index down by about 0.8%, and taking a look at the sector action there, we did have financials, information technology, as well as consumer discretionary, the biggest laggards during today's session. Whereas, on the flip side, we saw energy outperforming, yet again, alongside utilities and real estate. So overall, guys, definitely seeing a lot of selling action during this week, really adding to the volatility we've been seeing over the course of the year to date.
- And that certainly comes amid a great jobs report, but the great resignation continues. Americans create jobs at a record pace in mid 2021, and according to a resumebuilder.com poll, more will quit in 2022, but still at a slower pace. Now, for others, it was more about the great pivot and either starting a business or, perhaps, a franchise. So I'm joined by a guest who knows all about that.
That's John Moore, the Patch Boys of Huntsville, and Decatur owner, and former airplane pilot. Thank you for joining me today. So clearly, a very different pivot for you.
JOHN MOORE: Thank you for having me.
- Walk us through the thought process that led you to leaving your career as a pilot and pivoting to franchising.
JOHN MOORE: So I think a big part of it was wanting to be home more with my kids when they're out of school and working, while they're in school. So that was a big part of it. You know, I had a lot of fun flying, but this allows me more schedule flexibility. So this is much better for the family life.
- So, obviously, a lot of options out there in terms of franchises. So a lot of people might be wondering, why drywall?
JOHN MOORE: Yeah, why drywall? You know, I think COVID has caused an increase in home services, so it's just a great time to get into home services. And, you know, a lot of people are wanting to renovate their houses and fix the problems that they're staring at since they're at home all the time. That and the Patch Boys are just-- they're a great franchise. So after getting to know them, they've been very helpful, and it's a great team to be with.
- So then to that point then, for people who are sitting at home, wondering how they can go from, perhaps, sitting at a job that they don't love to, perhaps, doing something that you're doing, what did the early days of starting this career shift look like in terms of the cost, the support, and the revenue that was starting at the beginning?
JOHN MOORE: Yeah, so a lot of research, a lot of research trying to figure out which franchise is going to provide the support you need and having your savings built up, looking at the finances, knowing that you're going to be able to run that business and have the money you need to run it in the beginning.
- So how is business now, especially as you look at things like supply chain issues? You're seeing the cost of a lot of materials, including those that go into drywall, really going up. How is business now for you?
JOHN MOORE: Business is great. I mean, yeah, things are getting a little more expensive. You know, customers understand that, and it takes maybe a little longer to find the right technicians. But they're out there, and you know, it's business. So you get out there, and you find them, and you get to work.
- And as you said, you picked drywall. You're seeing what was happening with COVID, a lot of people looking around their homes and wondering what to do, and house prices are still expected to climb another 10% this year, making it even more difficult for people to go out and buy new houses. So what does that mean in terms of how you plan on getting more customers or, perhaps, marketing to new customers who are still stuck in their homes?
JOHN MOORE: You know, well, people that are trying to get out of their homes, they want to fix up their home, so that they can sell it and get the fair market value out of it. And some people are still buying those used homes, and they buy them. They see the repairs that need to be done, so it's just there's plenty of drywall work out there. Everybody's wanting to get it fixed, so it's not an issue.
- And just quickly, obviously, you've left your career as a pilot. Knowing what you know now in terms of whether you would have started soon or any advice for other people, what do you think is most important to think about when considering leaving your job and pivoting to something else? Oh, we appear to have lost him there, technical difficulties, but we do thank our guest there, John Moore, the Patch Boys of Huntsville, and Decatur owner, and former airline pilot. We do thank him for his time.