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Thursday, Jun 13, 2024

Splash Launches as First National Pool Service Brand

SERVICES: $4.5M Pre-Seed Fuels Startup in $7.2B Market

SAN DIEGO – Entrepreneur Jeremy Yamaguchi hopes to make a big splash in the pool service market, and he already has acquired one local business and has a revenue of $2 million just five months after launching his latest venture.

Jeremy Yamaguchi

Yamaguchi also has raised $4.5 million in a pre-seed funding round to acquire more pool service businesses that will operate under the newly launched brand, Splash.

As the brand grows, Yamaguchi said it will create a better experience for customers and provide opportunities for what are now mom and pop operations to share marketing, maintenance, software and growth strategies on a national level.

Yamaguchi already has success in the home service field with Lawn Love, which at one time served almost 80% of suburban areas in the United States.

While that company operated like Uber by connecting customers with independent contractors, Splash will own and provide various services for a network of pool cleaning services nationwide.

Yamaguchi said purchased businesses will be considered a division of Splash but likely will keep their original names, especially if they’ve been around for a number of years and have a loyal customer base.

Owners of the purchased businesses may stay on as Splash employees and managers of the local operation, or they may opt to step aside or retire on what they received from the purchase.

Yamaguchi said the first business he’s purchased is a San Diego pool service with 14 employees, bringing the number of Splash employees to 15 counting himself.

He expects to announce specifics about the purchase in about a week.

Serial Entrepreneur Across Multiple Industries

Yamaguchi was born in Japan to traveling Christian missionary parents, and much of his childhood was spent in Southeast Asia and East Africa.

Describing himself as a born entrepreneur, Yamaguchi recalls making and selling furniture for neighbors, creating motivational calendars to sell door to door and selling stuffed animals and toys to school friends.

He moved to San Diego at 15 to be with his father about 20 years ago and has made the city his home.

“I finished high school at 16, I got a GED, I started my first company and I’ve never looked back,” he said, adding that he was homeschooled and never took a business class.

Yamaguchi began making web sites for friends in 2005, and the venture grew into a digital media agency for companies across Southern California.

After four years, Yamaguchi was feeling limited in what he was doing, and he sought something with more potential for growth.

He had an epiphany in 2009 when he went to book a house-cleaning service and realized the entire home-service industry was very large and very fragmented, with consumers having a choice between a couple of national services or countless small businesses found on Craigslist or Yelp.

“Even the national big players weren’t using that much in the way of software to run their companies,” he said. “It was still very much a pen and paper, fax machine-type of affair. People were leaving invoices under doors.”

Using his skills in marketing, engineering and software development, Yamaguchi started Golden Shine, a marketplace for in-home services.

“It was Uber for whatever you might need at home,” he said about the business that connected customers to maid service, carpet cleaning, window washing or other in-home services.

He sold the company to a private equity firm in 2014 and decided his next venture would be in one of three areas.

Yamaguchi had built websites for one-demand pool care, in-home personal training and lawn care. He decided to go all-in on lawn care, which at the time was a $98 billion market, according to the industry data analyst IBISWorld.

Lawn Love grew it to a national brand with an eight-figure revenue, 200 employees and thousands of independent contractors before Yamaguchi sold it to the competing firm Lawn Starter in 2021.

Terminix of Pool Service

Yamaguchi then looked back at the website he created for pool services and decided that would be his next focus. According to the latest data from IBISWorld, swimming pool cleaning is a $7.2 billion market with 85,000 businesses in the U.S.

He envisions a national network where Splash will own pool cleaning services throughout the country, with the company building software to efficiently manage routes, scheduling, chemical management, reporting, billing, equipment maintenance and other tasks.

Yamaguchi notes that other industries have “800-pound gorillas,” such as Terminix for pest control, and he aims for Splash to claim a similar title.

“There is no national brand in pool cleaning and pool maintenance, and there’s no law of nature that says there can’t be,” he said.

FOUNDED: January 2024
CEO: Jeremy Yamaguchi
BUSINESS: Pool service
WEBSITE: https://splashventures.com
CONTACT: jeremy@splashventures.com
REVENUE: $2 million annually
NOTABLE: The company founder already has a successful track record in other home services.


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