James Abrams @ Clockwork Home Services, Inc.: Lessons from a Serial Entrepreneur

Appropriate case for students interested in entrepreneurship, growing a business, or developing a business model. The case presents the challenges that come with growth and examines the iterative entrepreneurial process across time and activities by following a serial entrepreneur as he builds three successful businesses within the same industry. It also reveals how he developed his business model. Excerpt UVA-ENT-0117 Rev. Aug. 19, 2010 JAMES ABRAMS @ CLOCKWORK HOME SERVICES, INC.: LESSONS FROM A SERIAL ENTREPRENEUR Clockwork Home Services, Inc. (Clockwork), a privately held company with headquarters in Sarasota, Florida, specialized in building national brands in the home-services contractor market. James Abrams, Clockwork's president and CEO, launched the company in October 1998 with his business partner, John Young, and grew it from $ 2 million to $ 200 million in revenues in just 10 years. Since its inception, Clockwork experienced strong organic growth, as well as growth from the acquisition of profitable home-services businesses. With 577 franchises for the plumbing, electrical and heating, ventilation and air-conditioning (HVAC) industries in the United States and Canada, Clockwork had 1,000 employees, including 220 in the parent company. In 2008, the company earned the 933rd spot on Inc. magazine's list of 5,000 of the fastest‐growing private companies in the United States. . . .