Wondering how to start a plumbing business during this Covid-19 situation?
One of the most undervalued lines of work is plumbing services. It would seem hard to believe but plumbing industry had a revenue of around $107 Billion worldwide in 2019.
Now that more people are staying in due to the Covid-19 situation, the demand for plumbing services is only going to get higher. So if you plan to have your share of profits in this line of work, you would do better if you start your own plumbing business.
Starting a plumbing business might be easy, but 2020 has been a year of enormous change, now businesses don’t use billboards on the roads but buy advertisements on social media.
Similarly, you would also have to change some aspects of your plumbing business to cope up with the fast paced business trends and the strong competition from an almost saturated market.
To make things easier, we have come up with 15 key tips to start your own plumbing business and challenge yourself to get even higher returns on your efforts. Let us take a look.
15 Easy Tips to Start Your Own Plumbing Business
1. Get Certified:
In 2020, you cannot work without proper certifications almost anywhere. There are a lot of technical courses available such as pipe cutting and soldering, drainage and venting, electrical basics, water heating systems and so much more. These plumbing courses will provide you with apt knowledge for your plumbing business.
2. Start with perfecting the craft:
We know that you can also hire employees and run your plumbing business from the top level, but in order to understand your business better, it would be a good idea to learn to do those things by yourself and start from the bottom. Work with other professionals and learn the basics of plumbing and building customer relations and brand identity.
3. Understanding Your Market:
You should have a proper understanding of your services in order to create an amazing plumbing business. Know that plumbing services cover a wider area of work such as sanitation, water fittings and sewage management, gas, heating and cooling, fire services, air conditioning and so much more.
Also, you would have to decide which market you want to deal in, which majorly depends on your perspective and the availability of funds. You can either choose to work for residential clients where you can work on your own with limited resources and equipment.
Or you can work for industrial clients with more manpower, resources and equipment. Do some research about it and ask yourself ‘what works for you and your competition in each category of plumbing business?
4. Choosing the right Name:
Your business should have an easy name which has a great recall value. It should be easy to remember and should be catchy. While a lot of people use their names followed by plumbing services, you can choose a different and a catchy name for your business that helps in getting better reactions and responses from your customer.
5. Create a business plan:
When you have a great name for your plumbing business, the logical next step would be to draw a business plan of your operations and inventory for your plumbing business. Establish your short term and long term goals. Develop KPIs (Key performance Indicators) for your business using measurable performance indicators to track your business growth.
6. Tackle All the Legal Formalities:
You would have to get a business license and comply with the state regulations to run your plumbing company smoothly. The state requires you to get documents such as a contractor’s license, plumbing permit and a plumbing license to work freely. You would also have to register your business with the state and submit tax documents and insurances.
7. Work on your finances:
When you create your business plan, you have to keep a check on your finances to start your plumbing business. Note down all the expenses you have to bear and find ways to get funds for your plumbing Startup. You can take a small loan from the bank if you have a good credit rapport, or you can ask your friends and family to help you out.
8. Design a Business Card and a logo:
Now the design aspects enter your business and it is required that you get a business card design with a great custom logo on it. In order to save you from all the hassle of getting a designer, you can simply go for our brand identity pack to help you get a cool logo along with business card design for your business.
9. Create Your Website:
2020 is all about having an online presence on the internet. So, website are a great way to show your customer about your plumbing business and get bookings directly on the website. If you can create a good website, it’s great. Designfier can also help you get a professional looking plumbing website design in no time.
10. Use SEO practices to get higher ranking:
Now that you have a website that can market your business, you have to make your website appear in searches. So you can use Search Engine Optimisation (SEO) practices to increase your search rankings and stay ahead from the competition.
11. Generate Leads and Convert into sales:
Now, you can either hire someone who can assist you with lead generation, or you can promote your business on your own and create leads for your business. You can generate leads by providing discounts, distributing free coupons and providing better prices for frequent customers. The key ingredient to a successful business is a happy customer, which can work wonders for your plumbing business.
12. Social Media for business promotion:
2020 is all about having your presence on the internet and having a social media profile that attracts everyone’s attention. There are high chances that the people who might require your services, use social media. So establishing your business actually makes sense. Our team at Designfier can help you get great social media designs to create a solid social media presence.
13. Email marketing for your business:
You can use your website to gather emails to promote your business via e-mail marketing. It is one of the most important tools to get clients and close deals more frequently. There are a lot of guides on the internet telling you how to use email marketing as a tool for business promotion.
14. Moderating your spends:
One of the most important factors to have a successful business in 2020 is to manage your spending habits. You can make budget cuts by opting out of having a workspace, managing your jobs and resources on your own. You can also file your own taxes and income reports to cut up costs for accounting.
15. Strategizing your investments:
Your investment needs to be strategized before anything. Your bad debts should be a priority and investing in equipment which yields higher income is also important. You can also choose to rent some equipment and make investments based on its importance, usage and wear and tear with time.
So, now that you have a good idea to establish your own plumbing business, all you have to do is get started!