If you are in the process of starting your own plumbing business then now is the best time. There is a national shortage of plumbers and everyone will need to seek the professional help of one at some point. Plumbers hold skills and knowledge that not everyone will possess, which means it will always be a profession with a high demand. Find out below how to start your own plumbing business and thrive forever.
Have The Budget
Starting a brand new business of any kind won’t be cheap. You may have heard that you can start a business with little to no money at all. While this can be true, it tends to be businesses that have been handed down or ones that are solely based online. So, in order to work out your budget, you will need to know everything you need to get started. This could include wages for employees, cost of vehicles, prices for tools, and any extra help you need with marketing or setting up your website.
Once you have a cost for this, always give yourself some extra wiggle room. This will give you some leeway in case emergencies crop up or you need to pay for something you have forgotten to factor in. If you don’t have this money to hand then you may need to apply for a business loan. For this to be successful you will need to have a solid and healthy credit score, you will also need to prove you can make the repayments each month. Failing to do so could result in you losing your business.
Carry Out Research
Before you start a business it is essential you carry out market research. This will give you a greater understanding of where you stand in the community and if there is a need for your business. Without market research you may find yourself treading on other businesses’ toes, which could result in you not getting the customer numbers you need. When you carry out market research you could speak to people and gauge how much interest there would be. You could also post polls on social media in various areas. Don’t be afraid to look into your competition as well, they will tell you how well they do and how many customers use them annually.
Hire Employees
You will need to work out if you are going to hire employees or whether you are just going to work on your own. Of course, there are pros and cons to both of these options. If you work alone, then you can only take on so much work and customers might need to be turned away. However, if you had an extra pair of hands or two then you could take on many more clients. When you hire employees, you then have outgoings like wages and salaries to consider. Weigh up the options and go with whatever suits you and your business best.
Get The Right Supplies
As a plumber starting their own company you will need to find somewhere to buy your supplies from. Every plumber will need a various array of supplies, tools, and equipment as you never know what is wrong with each client. One might have a blocked sink, while the next could be struggling with burst or frozen pipes. If you don’t have the equipment necessary then you may need to come away, order it, and then go back. This isn’t ideal, especially if the problem is deemed an emergency. Make sure you always have a supply, and back up supply of everything including frost-proof hose bibbs and pieces of extra pipe.
Sort Your Website
Every business will need a website, this is where your customers and clients can find out everything about you and what sort of services you offer. If you have never designed a website before then you may need an extra pair of hands for this. Include everything with prices so you don’t have customers wondering how much they are going to be charged. Speak to a web designer who will be able to do this for you.
Work On Marketing
Marketing will be your best friend when starting a brand new business. Without marketing you won’t have the level of customers you need booking your services or visiting your site. Marketing is how you go from being invisible to completely visible, and it all comes down to the type of strategies you use. It might be that you want to work in certain areas, so you rely on leaflet distribution through doors. You could also work on your social media pages, always updating customers with work that you have completed. You could also set up social media to receive reviews, that way when customers are looking at your services, they know how good you are at what you do.
Speak To Lawyers
Finally, you won’t be able to start any business without the help of lawyers or solicitors. If you have one to hand then they will be able to trawl through all your paperwork and ensure you have everything you need in place. You will need to sign up for various types of insurance to make sure you have the right levels of protection in place. This will likely be tradesmen insurance, public liability insurance, tool & equipment cover, as well as auto insurance. You will need to let your vehicle insurance company know that you plan on using the car or van for business purposes.
Make sure you use a lawyer that has experience in the line of work that you intend to do. You need to read reviews from previous users, clients, and businesses to find the one that suits you. Failure to do this could result in you not having everything needed further down the line.
We do hope you found this article helpful and it gave you some useful tips and tricks on how to start your own plumbing business. Remember, you may have days where you regret your decision. This won’t last forever and all business owners experience this at some point or another.
