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:
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.
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:
- 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.
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.
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.