It’s a supply and demand problem. There are just not enough people pursuing these jobs to replace the retiring generation. Some of these small family businesses are quite profitable, but most owners don’t have kids interested in continuing their legacy. Private equity noticed this and went on an acquisition spree. They buy your local HVAC and plumbing company, keep the family-owned branding “since 1976”, hire people with no experience to do the job and increase the hourly rate. They recover the investment, squeeze out every dollar they can and shut it down once bad Google reviews and lawsuits start to creep in.