HVAC

Do you have big plans for your plumbing business? Are you ready to take your company to the next level? If so, you may have been considering expanding your company. Growing your plumbing business is the ideal way to take it to the next level of success, and now is a great time to do it. Right now, the demand for plumbers is high. According to a recent HBI Construction Labor Market Report, there is a 55% shortage of plumbers that are available to work. 

The shortage of plumbers provides you with the ideal opportunity to capitalize on this increased demand for your services. But, even when demand is high for your services, choosing to expand your business is still a big decision to make. 

Taking steps to grow your business is always something that should be done carefully. Diving straight into scaling your business and investing significant amounts of money and resources to facilitate the expansion can be a costly error to make.

Putting too much of your time, money, and effort into growing your company can jeopardize your entire business and put everything you have worked so hard for at risk. To protect your business and to reduce the risks associated with expansion, it is crucial to take a measured approach. Read on to discover essential tips to help you successfully expand your plumbing business and help your company to reach its full potential.

Carry Out Extensive Research

Finding ways to reduce the risk of expanding your business is always crucial. Doing all that you can to protect your company as it is right now is essential. Otherwise, you risk sacrificing everything that you have worked for up to this point.

One of the best ways to reduce the risks involved in expanding your business is to carry out extensive research. Treating your expansion plans in the same way that you would a new business can be helpful. This means carrying out lots of research to familiarize yourself with competing businesses and the services that they offer. This will give you a far clearer idea of the types of services your business should offer if you want to compete directly.

Make a Plan

Taking a look through all the research that you have gathered together should mean that you now have a huge body of information that you can use to inform your expansion decisions. All of this research information may seem a little overwhelming to start with, but it is worth taking your time to work through it all, as it is the perfect way to understand who your competitors will be and how you can rival them successfully.

Working your way through all your research to build your knowledge is also the ideal way to identify any gaps in the market that your newly-expanded business will be able to fill. Based on all this information, you will be able to write a thorough business plan that details your expansion plans. Your business plan will provide to be vital in the weeks and months ahead, as you can keep referring back to it to ensure your progress stays on track.

Explore Opportunities

When you decide to expand your business, a whole host of opportunities will open up to you. You will be able to reach a whole new section of clients and even have the capability to offer specialist services based on your team’s expertise. Once you start to look for new opportunities, you will soon find that there are lots of options to explore in your quest to grow your business. 

When you are just starting out on your journey into expansion, it is essential to keep your cash flow in mind at all times. Keeping your cash flow healthy is vital when expanding your business. Many companies make the mistake of stretching their finances too far during their growth phase, which means that they put their businesses under unsustainable levels of pressure. To overcome this, you may want to seek out contracts that offer your company repeat business to help your business to expand successfully while also maintaining a healthy cash flow. Pitching your business in the commercial sector is the best way to do this. Securing a contract to take care of all of a business’s plumbing needs and ongoing maintenance is an excellent way to receive a steady income for your business. As your team and your reputation continue to grow, you should find you attract more ongoing clients.

Invest in Software

While your business may have been successfully operating for a while now, it is essential to remember that the way you run it will need to change as it grows. More employees and an increase in jobs mean that it will be much harder to keep track of what is happening in your business on a daily basis. However, as your business grows, it becomes more important than ever before for it to stay organized and for you to keep track of what is happening both on a day-to-day level and at an operational level.

When you have employees going off to jobs in many different locations throughout the day, it can be an ongoing challenge to try and keep track of where they are and what job they are currently working on. But knowing this information is vital if you are to offer your customers the very best service and to keep your business running efficiently.        

Investing in the best field service management software will make running your business so much easier. You will be able to organize your team’s workload more efficiently while also ensuring that your customers get a far better service. Choosing software that offers live field updates will help you to monitor where your team members are at any one time. This is vital when you run a plumbing business and will help you to provide an emergency plumbing service to your customers and to get your team to them in the fastest possible time.

Interplay Learning, the leading provider of online skilled trades training, is pleased to announce a strategic partnership with Southern Home Services Corporation, a leading residential home services provider specializing in HVAC, plumbing, electrical,  and generator service, replacement, and maintenance. This important collaboration names Interplay Learning the exclusive content engine for technical training and the designated LMS provider across Southern Home Services’ growing network of 25+ locations.

Recognizing the crucial need for a standardized technical training and development system across its expanding portfolio of companies, Southern Home Services Corporation aligned with Interplay Learning to deliver a unified and scalable training solution to their 750+ technicians. By leveraging Interplay’s cutting-edge digital learning platform, technicians at every business location will have seamless access to industry-leading training tools and resources, including immersive 3D simulations and virtual reality experiences.

Interplay’s diverse content catalog will ensure that technicians across various skill levels and trades can enhance their knowledge, acquire new skills, and earn essential career-building industry certifications like EPA 608. Further, the platform’s built-in skills assessment tool will play a vital role in identifying and addressing technicians’ skills gaps, providing targeted learning paths to bridge those gaps. The state-of-the-art training program will also assist Southern Home Services in improving recruitment, addressing labor shortages, reducing callbacks, and driving revenue growth throughout its extensive network.

Matt Ellenberg, Training Manager at Southern Home Services, emphasized the importance of Interplay’s training and development on company growth, stating, “Training equals next month’s, next quarter’s, and next year’s revenue dollars. This partnership with Interplay is an investment in our technicians’ career development and a driver of future revenue.”

Chief Operating Officer Drew Poskon adds, “This training partnership is a testament to our commitment to providing best-in-class training that directly translates to best-in-class home service experiences for our customers.”

The relationship between Southern Home Services Corporation and Interplay Learning marks a significant milestone in advancing technical education delivery throughout the trades. By leveraging leading technology and comprehensive training resources, both organizations are poised to shape the industry, ensuring continued growth and success for Southern Home Services and its dedicated workforce.

“Interplay is thrilled to work with Southern Home Services in setting a new benchmark for technical education across the trades,” said Doug Donovan, CEO of Interplay Learning. “We are honored to work alongside them to drive acquisition success and provide their expanding workforce with a centralized system of career-building tools necessary for sustainable growth.”

Falls Church, Va. — Proving the value of constructive collaboration, Plumbing-Heating-Cooling Contractors—National Association (PHCC) leaders and the association’s industry partners and major sponsors exchanged ideas and solutions for mutual benefit during PHCC’s Industry Summit in Dallas, Texas, last month. The Summit – a chance to make a meaningful impact on issues and opportunities facing plumbing and HVACR contractors and the industry – was hosted by Rheem Manufacturing, a PHCC Corporate Partner.

“I learned early on that constructive collaboration was essential for success,” PHCC—National President Dave Frame told attendees at the Summit. “By exchanging ideas, learning from each other, and establishing new relationships, we can further our mission of advancing the industry not only for our own organizations but also to protect public health, safety, and the environment.”

Indeed, the group of industry leaders spent the day exploring ways to better collaborate on crucial industry initiatives, namely regulatory issues, advocacy, workforce development, education and training, and sustainability.

Regulatory updates—particularly trends in decarbonization/electrification – were a key takeaway for Summit participants. PHCC—National Vice President of Regulatory Affairs Chuck White led a discussion on how PHCC and its industry partners can work together to ensure that contractors and their employees have the information they need to effectively advocate for reasonable regulatory mandates and prepare for upcoming changes. “The complexity of regulations impacting our industry amplifies the need for collaboration on advocacy efforts and to establish effective communication channels to keep industry professionals informed to ensure compliance,” he said.

During the Summit, attendees discussed how to set contractors up with financing options for customers interested in purchasing new HVAC equipment. Other topics addressed included how manufacturers can help develop information on heat pump water heaters (the benefits of new products, when to expect return on investment, etc.) for contractors to pass on to customers, as well as how they can improve hands-on training opportunities through PHCC state and local chapters.

In the area of workforce development, several PHCC partners and sponsors shared some transformative efforts, including supporting an apprentice program for at-risk female high school students, working directly with school guidance counselors to promote the trades, and more. “While workforce challenges are not new to this industry, it remains the number one concern for PHCC members,” said PHCC Vice President of Business Development Elicia Magruder. “PHCC and the PHCC Educational Foundation have numerous resources available to help our chapters and members promote careers in the trades, but we still need to do more to ensure a continuous pipeline of skilled workers.”

Of the event, Rheem Vice President of Residential AC Randy Roberts said, “Manufacturers can’t be successful unless we hear and respond to the challenges and needs of our customers. PHCC’s Industry Summit took that up a level, allowing us to engage with contractors, suppliers, and other manufacturers to focus on the current issues our customer base is experiencing and identify how we can all help each other to support and advance our industry.”

PHCC already is building on the energy and commitment exhibited during the Summit, moving to implement many of the solutions discussed as well as making arrangements for its next Industry Summit. “The ideas shared serve as a strong foundation for future collaboration among PHCC, the PHCC Educational Foundation, and our industry partners,” said Frame. “By working together, we can address industry challenges, foster growth, and ensure a prosperous future for the plumbing and HVACR industry.”