Markets Served by PJ Fitzpatrick: N.J., N.Y., Pennsylvania, Mid-Atlantic
Growth: We just acquired a bathroom remodeling company on Long Island, so we’re looking at $166 million in revenue as a blended company for 2024. The core business was $152 million, and the acquisition added $14 million. We had budgeted for $140 million, so we’ve had a really strong year. In 2025, our plan is for $216 million, so about 30% growth.
Plan of Attack: We’re going to focus on geographic expansion; growing our repair division—which is a big part of our business—and using AI to improve efficiencies, the customer experience; and to aid sales and marketing efforts. With our new acquisition, we’ll work on integrating bathrooms into the business.
Predictions: With the election behind us, there’s less distraction and with interest rates coming down we’re looking at increased consumer sentiment. Most of our customers are emergency buyers (if there’s a hole in the roof, it must be fixed), but with conditions improving, we expect more discretionary spenders.
Challenges: Tariffs. I worry about price adjustments and disruption to the supply chain. Nearly everything we buy could potentially be affected by tariffs, and it’s not just the physical products, but the components that make up the products we buy and sell. Tariffs will raise our costs, and we’ll have to pass those on to our customers.
Vibe: Mindful