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Around my neck of the woods plumbers charge from $65 to $85 an hour.
Counting a normal working day (8 hours), normal work year (2080 hours a year), and an average plumber wage, even though it's the plumbing company that's charging, that's $156,000 a year.

You have never owned a business or participated in the billing process, have you.
I have.

What you sketch is true for one-person companies with no employees, an insignificant minority of all plumbers.

When I started working many years ago, the "multiplier", for billing purposes was 2.2; when I stopped being involved directly with the billing process, that multiplier was approaching 3.

This was due entirely to "benefits" and other costs directly mandated by government. Do I need to repeat that?

OK; that was due entirely to costs, mostly mandated by government.

So, reasonably, using a more likely multiplier of 3, your $156,000 instantly shrinks to $52,000, a most likely figure applicable to my experience here in California.

A little learning is a dangerous thing.