If you’ve stumbled across this article, then the idea of being your own boss must have been on your mind for a while now. Perhaps you are working for another person’s plumbing business and believe you can be a business owner too. Maybe the boss sucks! Or you think you have enough experience to finally Read more
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If you’ve stumbled across this article, then the idea of being your own boss must have been on your mind for a while now. Perhaps you are working for another person’s plumbing business and believe you can be a business owner too. Maybe the boss sucks! Or you think you have enough experience to finally start your own business. Either way, one thing is certain–starting your own plumbing business is never a bad idea.
While the road to every successful business has its ups and downs, the shortage of plumbers in the economy only means one thing–there could never be a perfect time to start your plumbing business. Besides, reaching the break even point is easy for such businesses, making them an even more viable opportunity.
So, are you ready to sail this island? Once you have decided to be a boss, you need to be ready to put in all the hard work, but in the end, it will be worth it. This guide puts together everything you need to know about converting your plumbing skills into a successful venture.
Set Goals
Before starting your business, here is an important question you should ask yourself: what is the reason for starting this business? Is the goal to grow income? Do you want to have more free time on your schedule? Are you trying to build an empire?
People have different reasons for starting their own plumbing business. Your objective is the foundation upon which to build your business. Consequently, there is a need to be clear on the reason for starting your business. A business that you begin with no objective has a high chance of collapsing even before it picks up.
Create a Business Plan
Put simply; a business plan is a document outlining your business goals and objectives and activities to do to achieve them. Although it takes time to develop a comprehensive business plan, it will be worth the hassle in the long run. A comprehensive plan gives purpose, structure, and a clear-cut strategy to your business, allowing you to start with more minor hurdles.
Here is what your plumbing business plan should include:
- Growth opportunities
- Financial projections
- Financing
- Marketing strategies
- Short and long-term goals
Hiring
If your goal is to build a successful plumbing business, you know that hiring unqualified plumbers is out of the question. It is, however, essential to consider the qualifications you already have and those you might need in the future. When you are starting, minimum requirements are crucial. Then, with time as your business establishes itself, you can bring in some training.
After gaining further qualifications, you will be able to provide more services, and resultantly, you will make more money. Once you have the right capabilities, you can work on:
- Water recycling systems
- Central heating
- Gas and oil-fired appliances
One thing that potential customers look for when searching for plumbing services online is your credentials. For this reason, it is vital that you display your qualifications, as doing this helps you garner trust and more contracts. It would also be best to stay up-to-date with qualification requirements as they vary from state to state.
Finding Finances
Once you’ve sorted out the minimum requirements for your employees, the next thing to do is raise capital for your business. Every business requires cash, and the plumbing business is no exception. You will incur high costs in acquiring equipment and a vehicle, but you do not have to worry if you are operating on a tight budget as you could opt to get cash from a third party.
If you cannot raise the required amount independently, you could approach your bank or any other lender for small business loans. Most major banks have small business departments that provide a wide variety of financial options:
- Credit cards
- Business accounts
- Small business loans
These departments usually have business experts that will offer you guidance, and you’ll be able to contact them whenever you need any advice or clarification.
If you decide to follow this path, ensure to bring along your business plan as no bank will lend you money if you lack a comprehensive plan on how to utilize it.
Alternatively, you could go for government financial schemes or ask for help from friends or family. Another option is looking for angel investors who might be interested in your business idea.
Marketing Your Business
It is unlikely that your business will be a monopoly as there will probably be other similar businesses in town. This means that competition will be tough, and it is, therefore, your job to convince potential customers that your business has more to offer compared to the rest.
It would be best if you began by creating awareness of your business. Once people know that there is a new business in town, they will be willing to stop by. If you strongly believe you could find your target market on social media, then, by all means, go for it. After all, the end justifies the means.
Now that your business is up and running, you should regularly do a SWOT analysis to determine what is going right and what needs some work. This, coupled with learning from other similar businesses in the market, is important if you want to establish a legacy.
When you have your own business, you always need to make sure that you’re doing what you can to get more customers. Unless you’re an established business and you’re starting to get a lot of referrals from customers, it can feel like you’re waiting to grow. But, you will find that you are able to Read more
When you have your own business, you always need to make sure that you’re doing what you can to get more customers. Unless you’re an established business and you’re starting to get a lot of referrals from customers, it can feel like you’re waiting to grow. But, you will find that you are able to get to where you want to be as long as you know to put the work in. The thing is, you might be wondering exactly what it is that you need to do.
That can often be the trickiest thing is usually knowing exactly what it is that you need to do to stand out in the first place. Your expertise is your trade and not marketing. So it’s not always easy to know what you need to do to get interest and promote what you do. Let’s take a look at what you need to do.
Know Your Customer
Before you start, you have to know your customer. It’s a good idea for you to think about who you’re targeting and who will buy from you so that you know how to reach them and get them to find you.
Advertise Locally
Then, you’ll want to try and advertise locally in your area so that people can find you. From local flyers and adverts in local papers to having banners and sign writing on your vehicles. This will show off what you do and get people to take notice.
Build A Great Website
You might then want to think about working on your website. It can be a great way for customers to find you. You’ll also want to work with an SEO company to help you to rank well on Google. So when people are searching for your business you’ll come up and they’ll reach out to you.
Use Social Media
From here, you’re also going to want to make sure that you’re using social media too. When harnessed well, social media can really make a difference in your small business. It can allow new people to find you and see what you do, it can gain loyal customers, and gain more business. So make sure that you’re shouting about what you do.
Test And Retest
The thing about marketing is that you can’t just work on one thing once and hope for the best. It’s all about testing, retesting and optimizing what you’re doing. It’s so important to look at your data, see what is performing on your website and what’s driving you traffic and getting you customers and then focusing more on that. Just trying new things and ideas is all it takes for you to start getting results.
Marketing your business can be such a hard thing to do when you’re not really sure what you need to do to make it happen. But the good news is, you only have to focus on a few things. When you’ve worked through these ideas, you should start to get a bit of traction for your business.
Plumbing is something that all businesses need to carefully consider. Needless to say, different businesses are going to have different plumbing requirements. Working in agriculture is very different when compared with working in an industrial sector, for example. However, there are some common mistakes that we see a lot of companies make across the board Read more
Plumbing is something that all businesses need to carefully consider. Needless to say, different businesses are going to have different plumbing requirements. Working in agriculture is very different when compared with working in an industrial sector, for example. However, there are some common mistakes that we see a lot of companies make across the board, so we will explore this to help you avoid such errors.
- Having the incorrect pipe system in place for the industry in question – As discussed in the introduction, different industries have different requirements when it comes to plumbing, and this is something that needs to be considered carefully. You need to make sure that the piping that you have installed serves the right purpose. If it doesn’t, you could find yourself running into a whole host of problems. This is especially the case if you are handling chemicals or other abrasive materials. The best thing to do is consult with an expert who understands the specific needs of your industry so that they can cater to this effectively.
- Going for poor quality replacement parts – It can be tempting to opt for cheap replacement parts because you want to save money. After all, a plumbing issue will never happen at a convenient time, and it is often something that a lot of businesses have not budgeted for. However, if you go for a cheap and poor quality replacement, this could end up causing even greater issues, which is only going to cost you more money at the end of the day. You can click here to discover more about the level of quality you should be looking for when it comes to replacement parts.
- Trying to fix issues yourself – A final mistake that we see a lot of businesses make when it comes to plumbing issues is trying to fix the problem themselves. If you notice that there is an issue, you might start to research the problem online and try out different pieces of advice that you find on the Internet. The issue is that anyone could provide this advice, and so you could end up following information that is not correct or is not right for the circumstances in question. If that is the case, it is probable that you could end up making the situation worse. And, as we have established, this often leads to a greater hassle and more money being spent. Downtime can also cause frustration and lost profits as well.
To conclude, these are some of the common mistakes that we tend to see people make when it comes to plumbing. From not having the appropriate pipework in place to sourcing poor quality equipment, there are many errors that we see businesses make again and again. If you can make a dedicated effort to avoid the mistakes that we have discussed above, you can give yourself the best chance of making sure you do not run into some sort of plumbing nightmare.
You’re likely reading this because your business currently serves residential customers, taking care of domestic plumbing and HVAC system installations, repairs, and maintenance. But, your business only serves that particular niche market. Things are going well for your business, and there is seemingly no shortage of customers. However, one thought that has crossed your mind Read more
You’re likely reading this because your business currently serves residential customers, taking care of domestic plumbing and HVAC system installations, repairs, and maintenance. But, your business only serves that particular niche market.
Things are going well for your business, and there is seemingly no shortage of customers. However, one thought that has crossed your mind on several occasions is whether you should offer commercial plumbing services as well.
As a contractor and entrepreneur, it can make good business sense to incorporate commercial plumbing services into what you offer. Here’s why:
Business Growth
Firstly, while you’ve got plenty of residential customers, you might have noticed that your business growth has hit something of a plateau in recent years. It’s a good idea to offer additional services to your business repertoire for the following reasons:
- Expansion. Providing commercial plumbing services means you won’t have to rely on one sole revenue stream, and you could even start operating in different regions;
- Lucrative Contracts. You’re far more likely to get put on a “retainer” by companies than individuals, especially if you provide a 24/7 emergency call-out service.
Financial Security
As a contractor, you want to make sure that you’ve always got the means to pay your personal outgoings each month. What would happen if residential plumbing work started to dry up in your local area?
When you offer commercial plumbing services, you’re less likely to have concerns about your financial security because you’ve always got reliable revenue streams. What’s more, commercial revenue can come from various sources:
- Companies
- Factories
- Property Management Firms
- Local Government
Of course, you may need to invest more in your business to offer commercial plumbing services, such as additional equipment, training for you and your staff, and complying with specific commercial plumbing regulations.
You may even need to stock different types of parts than you’re used to carrying, such as commercial oil water separators. However, such investments will be worth it, and your business will always be busy with work.
New Horizons
Sometimes, domestic plumbers feel like some days are exactly the same if they get called out for specific jobs, such as fixing leaking faucets or blocked drains. When you work on commercial plumbing jobs, you’ll contend with a whole new set of challenges.
If you’re the kind of person that relishes tough challenges and likes to learn about new things all the time, offering commercial plumbing services will be a no-brainer for your business.
Adding commercial plumbing to your list of services may even spark you into diversifying further. For example, you might wish to offer marine plumbing services for boats, ships, cruise liners, and other vessels.
Final Thoughts
There’s no denying that residential plumbing services are always in need by homeowners and householders across the country. However, you’re not just a residential contractor; you’re also a business owner, and you need to think more about its future direction.
Commercial plumbing services can be a lucrative market to enter, and it’s one you should highly consider to grow your business.
You have passed your plumbing qualification and it’s time to find a job. Or, you have decided to start your own company. Either way, amazing news. When you are starting out as a plumber, there are some obvious things you need like uniforms, tools, and more than knowledge on how plumbers unclog drains. But, we Read more
You have passed your plumbing qualification and it’s time to find a job. Or, you have decided to start your own company. Either way, amazing news. When you are starting out as a plumber, there are some obvious things you need like uniforms, tools, and more than knowledge on how plumbers unclog drains. But, we bet there are items you might forget about other business essentials that can maximize your work and results.
Headwear
As a plumber, you will need protective wear for health and safety reasons. Aside from a hard hat, a face covering is a good idea.
You can wear a Choob to protect you from dust and bacteria while on the job. These are multi-functional, so you can wear them for other purposes. However, they are ideal for plumbers. They cause no fuss and they are tight to the face and won’t fall down while you are mid-task.
Business cards
Having business cards is a great way to get repeat customers. When you have finished the job, you can leave them your business card with your details on so that they can get back in touch with you for future projects.
If you leave behind a few spare business cards, then they can hand them out to their friends and family so that you can attain more customers.
Website
Speaking of attaining customers, a website is an ideal marketing tool to attract new customers. Having your name online will grow brand awareness and allow more customers to discover your plumbing business.
On the website, you can include contact information and prices. You could also offer a booking system so that customers can book a consultation easily without waiting for you to pick up the phone.
Having a website will also put you higher up on the search rankings. Although your plumbing business and contact details might be in an online directory, it can be lost in the sea of other businesses. Ensure to use good keywords so that customers can find you for specific projects. Furthermore, make sure that it is easy to navigate and a user-friendly website so that customers won’t get frustrated and lose interest.
Safety gloves
When you are handling tools, it is essential to wear safety gloves. These will protect you in the case of an incident. You may often handle saws, drills, and chemicals, which can harm the skin.
Rubberized gloves are great to protect you against electricity. Having gloves at hand will ensure that you can always be safe, no matter what job you are doing.
A mode of transportation
It’s all well and good having the uniform and tools, but it would help to easily be able to get to and from jobs. Having your own mode of transport gives you the freedom to drive around from job to job. You can maximize your business by having a van or car, as you will be able to meet the needs of further away customers.
If the vehicle is just for business, it can help to add personal branding and contact details. It will act like a moving mode of marketing, which many will notice and remember.