There is a world of difference between being a plumber and running a plumbing business. When you are the only person doing the job, the show is your own. There are plenty of projects, there are not enough hours in the day to complete your projects and there is not a single free minute. You don’t run out of things to do and the only person you need to support is yourself.
But once a business starts, there are quite a few things you need to look out for. If you cannot fulfill the needs of a business, things might get slow. You can even lose loyal clients and the profits reduce faster than you thought possible. What is even worse, though, is that there are too many competitors in the market, willing to do the same work for less money. How can you make sure that your business is selected instead of your competitors?
What are the ways to ensure that your plumbing business continues to flourish?
Here are 5 factors that you can work on to make sure that business blooms and there are no dull moments.
Understand the Needs of Your Business and Target Market before Moving to a New Location
Before getting into any business, let alone plumbing, make sure that the area you live in requires the business that you are about to provide them. Of course, most people conduct plumbing inspections before buying a home, but this isn’t enough.
The target audience has to be there for any business to become successful. This means you can’t move to any location. Well, the grass on the other side of the fence looks greener to most business owners. You should, however, evaluate all the factors before moving your office.
The next thing you need to access is whether you are ready to become a business from the one plumber that you were. Do you have the finances? The task-force? The willpower and time? If the answer is a vigorous yes, well then, get started.
As harsh as it may sound, money is an important aspect of a business plan. You need to have a substantial amount to grow your business. Also, understand that it takes at least a year or a half before your business actually generates enough revenue for you to call it successful. If you can only meet the costs but not pay yourself, this means you are not truly growing.
If you don’t have your own savings, then find investors. Keep your budget low, start small, and gradually grow the setup. Start by hiring only one expert and get someone you know to handle the accounts for you.
Make sure you keep your business accounts separate and pay off the loan before spending the money you earn. All the business money must go back into the business at least for the first few years.
Get Yourself Online
If you are not on the internet, then the chances of your business flourishing are non-existent. So the first thing you should do, if you haven’t already done it, is to get a website made. The website should be functional, up to date, and should be able to attract the right crowd. It is suggested that you get a website made with the help of a professional so that what comes out is a product that helps your business grow.
Not only should the website list all your services but also give the viewers a basic idea of rates, pictures of previous work done, and a clear call to action about what the reader is expected to do. Mention an active phone line, email, and fax.
Generate Customer Leads
There is nothing more important than customer retention unless it’s getting newer customers on board. What is the best way to generate leads? Through loyal customers, of course! One way to do it is through a job well done. But that is not enough. Ever heard the saying out of sight out of mind? Well, this happens with service providers too. If you are not in the minds of your previous customers when the word plumbing is mentioned, then you are obviously not marketing yourself well enough.
What you can do is continue to have some kind of connection with clients you have already worked with. There are plenty of ways of doing that. You can make sure that your company website has a newsletter and that you email it to the previous clients regularly. You can also need give them an incentive for them to refer you to other people in search of a good plumbing business, such as a discount.
Do not forget, there is nothing more persuasive than the word of mouth. When a customer is looking for some kind of service, the one thing they believe more than anything else is reviews and testimonials. So how can you persuade older clients into recommending you? You can offer discounts, rewards for referrals, free inspections for a new project, maintenance for a period of time to past clients, or some kind of gift. This incentive will be enough to keep you in the minds of the people you have previously worked with.
Hire the Right Experts… When Needed!
This is essential. By hiring people who are not experts in the field, you will only cost yourself a lot of money and some precious clients. First, assess the need for employees. Once you realize exactly what kind of team members you need, select them carefully. You need people who are not just dedicated to the job but to your company as well. Remain honest with them and tell them that as the company grows, so will they. Make sure you fulfill your promise otherwise your employees are bound to cause problems for you.
Ultimately, the only way to run a successful plumbing business is to stand out in the crowd, provide work that is sustainable, reliable, on time and something you will bet your money on. Just keep in mind that you will only be able to retain customers when your business speaks to all their plumbing needs.
Therefore, apply the 5 factors mentioned above to your plumbing business today and watch how it continues to spread beyond your expectations. Remember, the key to success is continued hard work and perseverance. It may take time, but you will attain the heights that you dream of for your business. Good luck!