The plumbing services industry is no doubt a growing industry as per IBIS, The current USA plumbing market size of worth $129 billion and is expected to grow by 24% in the next two years! Also with a high rate of construction in both commercial and residential sectors, plumbing jobs have a high growth rate. There is a significant shortage of skilled plumbers and demand is rising higher than before. All this shows it is high time you invest and start your plumbing business now. But starting a new plumbing business is not that easy initially and it requires a team of skilled plumbers acquiring necessary and latest tools. Finding potential customer bases at the start is difficult, but once you get through this tough period, the plumbing services business starts to grow faster than any other business.
How to Start a Profitable Plumbing Business?
This blog will elaborate and explain how to establish a plumbing business in 10 easy steps!
- Acquire a plumbing certification.
- Setting plumbing business goals and objectives.
- Write a unique business plan
- Get business financing from reliable sources!
- Purchase the right plumbing equipment and tools
- Get your business registered and get insured.
- Provide a price quotation for your plumbing services.
- Advertise your plumbing business effectively
- Hire Qualified technicians for your business growth
- Stay updated with the latest training and knowledge!
1: Acquiring a plumbing certification
Getting state-approved plumbing certification can give you the expertise, knowledge, and skillset that you direly need at your job.
To become a licensed plumber three main steps are needed which are explained below:
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Getting the right required education:
Graduating from high school or getting the General Educational Development Test (GED) passed first. After passing these attend a college or a vocational training center to learn technical education like plumbing maths and design, building infrastructure codes, installation techniques, residential and commercial plumbing differences and repairs, and other such things.
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Working as a trainee:
A plumbing trainee is paid job training under an experienced and competent plumber. Working under a licensed and competent master helps you gain great work experience, and teaches you actual working difficulties, and plumbing issues and how to deal with them and make them fixed. It can last from 3 to 5 years and is a necessary part of becoming a qualified plumber.
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Passing your licensed exam:
Every region can have its own plumbing exam requirement, some regions demand you to renew your plumbing license periodically. Upon clearing the exam you can become a freelance plumber or can work as a plumber in any company.
Plumbing certification eligibility and criteria change state by state. You must make sure you meet the right certifications for the right requirements. Only then you can have a name in the field of plumbing services.
2: Setting plumbing business goals and objectives.
Setting goals and objectives is very important for a plumbing business’s Growth. Think and make goals that are where you want your plumbing business to be in the next few years. Also, provide Cheaper Plumbing Repair Services than your competitors in the area to become people’s first choice. Then set short-term goals like:
- Getting 10 five-star Google reviews within the first four months of your services.
- Earn $65,000 in sales in your first year of service.
- Hire your first employee within three years of service.
- Have a third vehicle and service team within four years of service.
3: Develop and write a unique business plan
Developing and writing a unique business plan helps you to achieve your goals by ensuring your direction is clear and you are moving in the right direction.
Your Plumbing Services business plan must include:
- Cover page having your business name, logo, and contact information on it.
- An executive summary with a quick overview of your business, how much funds you need, and what makes you above your competitors in the market!
- Business overview with a summary of your business structure and complete history.
- List of services and pricing strategy showing what your residential and commercial plumbing services will offer customers and at what prices!
- Market analysis describing your potential target market and your potential competitors in the area.
- Marketing plan outlining how you will attract new customers to your plumbing business.
- Financial plan showing the income and expenditure of your plumbing business for the first year!
4: Get business financing from reliable sources!
Finance is extremely important to run your business. It is needed for buying equipment and tools, paying for insurance, and getting your first customers. If you don’t have finance on your own you have to search for some other options. Such as:
- Governmental funding: The government provides loans to nourish small businesses. For example, The Small Business Administration (SBA) offers funding programs for small business loans and investment capital, you can get it from there.
- Explore other loan options: Other than governmental options the second one is getting a loan approved by a bank. You can also get a loan from your family and friends.
- Credit card: A business credit card is another important option for generating finance. Credit cards provide plumbing business owners with the extra cash flow that helps cover their business’s immediate costs and gives them the financial breathing room to save for longer-term costs to continue to grow and expand.
5: Purchase the right plumbing equipment and tools
For a plumbing business selecting and purchasing the right kind of equipment and tools is extremely important. After you have acquired the finance, buying tools and equipment is the next step. These tools should include countering regular and Plumbing Emergency.
You can invest in purchasing plumbing tools, inventory, and safety equipment. At the start, you need not invest all the money in buying tools, instead, make a list of the most necessary required tools and only buy them.
You can rent out other equipment if they are needed. Once you get your license and a fair amount of customers you can buy the complete range of tools!
Essential tools and equipment that you must buy at the start include gloves, glasses, plungers, screwdrivers, wrenches, pliers, hacks, plumber torches, bore scopes, and pipe twisters.
6: Get your business registered and get insured
Before you start your commercial Plumbing Services operations getting your business registered and insured is extremely important.
The first step before registering your business is defining the nature structure of your business. Whether it is a private limited, a sole proprietorship, a partnership, or a limited liability company.
Declaring the nature structure of your business gives your business a unique and creative name to your business.
Make sure that the name is not taken before. After finalizing the name, register it with your local government.
Then apply for the required licenses and permits. Make sure that you get the right amount of licenses from federal, state, and local levels to operate your plumbing services business.
With the right sort of license apply for insurance as well. Insurance protects small business owners and their clients after an accident, injuries, and business. Get the insurance policy that best suits your business.
7: Provide a price quotation for your plumbing services.
Make sure you provide a competitive price structure for your plumbing services to your customers. Before finalizing the price structure make a list of services you are providing to your customers. After making a list make estimates about the tools used, employee’s salaries, and the profit margin you expect.
After you finalize all these factors make a comparison with your competitor’s price ranges and then provide a competitive price range. You can charge your clients an hourly or flat rate as well.
You can display these price ranges on your website or invoice your client’s payment with payment methods like cash, cheque, e-transfer, or credit card.
When your customer agrees on your price range a services agreement can be made that can include details of the plumbing job, the scope of it, and the completion time of the project. This agreement will help both parties to stay in a defined direction. Also if things are decided progress monitoring can be easy and professionalism prevails.
8: Advertise your plumbing business effectively
Effective and well-planned advertising for your plumbing services business is the most important thing to the success of your business. For this use both manual and online presence of your business. Use printed pamphlets, handouts, plumbing business cards, postcards, and door hangers.
Use catchy slogans about your plumbing business that are attractive and well-phrased. For a professional presence use a uniform carrying the logo of your business on it. Alongside it making sure about your online presence and creating a well-balanced website is also important.
As today everyone has access to the internet and cellphones people like to search for the best service provider online. Make it easy for them to find you online using the following quality online marketing strategies:
- Make sure to claim your free Google Business Profile
- Use lead generation techniques to acquire more website generation.
- Establish free social media pages on Facebook, Instagram, and other platforms to enhance your online presence.
- Make a mobile-friendly and easy-to-operate website.
- Use marketing techniques like SEO to rank higher in search engine searches.
9: Hire Qualified technicians for your business growth
A point will come where your business will be on the rise. You will be overbooked and now will need more people to handle your work and this is the right time to hire the first plumber for your business. There are several important steps you have to keep in mind before hiring your first plumber:
- Decide the type of plumber you need for your plumbing business. Select the type of plumber according to the expertise you provide through your plumbing business. The important types of plumbers from which you can select your plumber are sanitary plumbers, water supply plumbers, residential plumbers, commercial plumbers, and service and repair plumbers.
- Make a thorough job description post in which you must outline the job descriptions and the qualities you are looking for in the plumbers!
- Advertise the job properly by putting it on your website, online job portals, WhatsApp groups, and social media pages.
- Shortlist the candidates from the received applications and call them for an interview. Ask them the right questions about plumbing and verify their credentials.
- Lastly, hire the best plumber, provide him with an offer letter, get it signed by him, and then ask him to report on the decided joining day.
- Plan the work scope with him and wish him good luck to start his journey with your company.
10: Stay updated with the latest training and knowledge!
Coming to the top is not a big deal, maintaining the top position is a challenge. Staying at the top requires remaining informed with the latest training, tools, and development in the plumbing industry and other things.
It also includes keeping an eye on your competitors and watching their business strategies closely including their pricing, work ethics, marketing strategies, and other such things. Alongside business rivalry, there must be a relationship of mutual harmony and collaboration, link yourself with other plumbing service providers in the area, and keep learning from each other’s success stories.
Keep yourself updated with the plumbing blogs and magazines alongside the plumbing sites for new tricks and tips that will help you grow your business.
Keeping yourself updated means exploring professional development resources, reading books, and attending plumbing seminars to remain updated.
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FAQS
1) How does a plumber do?
A plumber performs many duties. He has expertise in fixing pipes, drainage, and gas pipelines.
Some notable important responsibilities of a plumber include:
- Performing Installation, maintenance, and repair of plumbing needs.
- Fitting bathroom and kitchen fixtures like sinks, toilets, and taps.
- Designing pipe schematics for buildings according to the infrastructure codes.
- Fixing appliances like washing machines, dryers, dishwashers, etc.
- Cutting, grinding, and welding pipes
- Understanding plumbing codes, standards, and regulations.
2) What is the best business type for a plumbing business?
The best business type that suits the plumbing business is a limited liability company also known as LLC. It benefits employers as it offers limited liability to them and they can protect their assets from lawsuits.
Employers cannot be personally responsible for business debts. Therefore starting your plumbing services business with LLC is a good option.
3) What is the average profit margin for plumbing?
The average profit margin for a plumbing business is known to be between 20 – 35%. The ideal profit depends on your financial costs like worker’s injuries, accidents, equipment costs, training costs, etc., and your financial goals.