
S11 E3 - with Chris McCarthy Part 1
In Part 1 of this episode of The Stripped Back Podcast, Stephen Buckley and Keith Delahan sit down with Chris McCarthy from CMAC Electrical for a brutally honest conversation about the realities of running an electrical contracting business in Ireland. Chris is known for speaking his mind, and this conversation doesn’t disappoint. From the pressure of going out on your own to the reality of rising material costs, underpricing jobs and the growing influence of social media, we get into the conversations the industry needs to have. Chris opens up about the early days of building his business, the moment he realised that having plenty of work didn’t necessarily mean making money, and how understanding your numbers completely changed the way he operates. We also get into the problems with unrealistic pricing expectations, contractors undercutting each other, workmanship standards and the role of QSs and PC sums in creating difficulties for electrical contractors. But it’s not all about business. We discuss the next generation of electricians, motivating apprentices, the challenges young people face today, and whether the industry is doing enough to prepare tradespeople for life beyond their apprenticeship. In this episode, we discuss: The reality of going out on your own – Why a full diary, a fleet of vans and a busy team don’t automatically equal a successful business. Social media versus real life – The dangers of selling the dream of self-employment without showing the hard work, risks and financial realities behind it. Knowing your numbers – Why understanding your break-even point, hourly rate, overheads and job costs is essential. Working for nothing – The consequences of underpricing work and accepting jobs that leave you with little or no profit. The race to the bottom – How undercutting, cutting corners and inconsistent workmanship standards affect the trade. QSs, PC sums and unrealistic budgets – The frustration of being expected to deliver quality electrical installations against figures that don’t reflect the actual costs. Rising costs and the construction industry – The impact of materials, diesel and overheads on electrical contractors. Business education for electricians – Why financial and business management skills should be a bigger part of the journey from apprentice to contractor. Mental health and asking for help – The pressure of running a business and why tradespeople need to be more open about their struggles. The next generation – Motivating apprentices, the challenges facing young people and the importance of practical learning. Career progression and partnerships – Why supporting ambitious electricians to grow within a business could benefit both employers and employees. This is an honest look at the challenges facing electrical contractors today, with plenty of food for thought for anyone considering self-employment or already trying to make a business work. If you’re an electrician, an apprentice, a contractor or someone working in the wider construction industry, this is a conversation worth hearing. Listen to Part 1 now, and let us know your thoughts. Sponsored by Snickers Workwear www.snickersworkwear.ie Recorded from N2 Electrical Wholesalers www.n2electrical.ie