Build a Plumbing Company
Whether you're just starting out or have been in business for a while, building a successful and growing plumbing company is a matter of careful planning, goal-setting and wise spending. You'll need to invest time and money in your business and think strategically about your market. In short, building a successful plumbing company requires equal parts plumbing expertise and business savvy.
Instructions
1. Write a business plan. This will not only help you with getting financing such as business loans or investment, but will also make you think hard about your goals, your customers, and the financial outlook for your company. Concentrate on the financial and market analysis sections. In particular, who are your competitors? Even if you're the only plumber in town, you're still competing against DIY options from the local home improvement stores, general contractors and handyman services. Try to differentiate yourself from their offerings.
2. Plan for growth. Make sure that the customer segment you're targeting is growing and is spending more money each year. If you find that the economic picture in your area has changed and your customer base is in decline, you should revamp your marketing efforts and offerings to branch into growth areas. Look into investments in larger equipment, such as pump trucks, and plan for when you'll be able to lease or purchase them. Determine how many customers you'll need before you can support additional staff.
3. Market aggressively. The more of your company's profits that you sink into good marketing, the faster your company can grow. This may mean that you take a substantially reduced salary for a while, or that you hold off on making other investments. Develop a single marketing message to tell your customers why your service is the best one for solving their problems, and then repeat that message everywhere you can: on the company van, company t-shirts, local radio ads, and so on.
4. Hire wisely. Before you bring on employees or contractors, make sure that your profits are high enough to be able to support the extra salary even during a down month. Your employees are ambassadors of your business, so it's a good idea to build their loyalty to you, and to choose them for not just plumbing skills but also their customer service abilities. Customers should know they can trust your workers in their homes.
5. Reinvest in your company. While building a company you'll often work long hours and take substantially reduced pay. This is necessary in order to sink enough money and care into the company to develop it into a self-sustaining enterprise that you can retire from someday.
Tags: your company, about your, Build Plumbing, Build Plumbing Company, building successful, substantially reduced, sure that
