Starting a plumbing business can be a rewarding career choice for those with a passion for fixing problems and helping others. If you’re an experienced pro or a recent graduate, here are some steps to launch your plumbing business.
Grow Your Business by Partnering With Payzer
Step 1: Get plumbing licenses and certifications
Before you can start your plumbing business, you need to make sure you are licensed and certified to work as a plumbing contractor in your state. Requirements vary by state, so you will need to check with your local government and state’s licensing board to find out what is required in your area.
In most states, you will need to pass a written exam and complete a certain number of hours of supervised work experience to become licensed. You may also need to complete continuing education courses to maintain your license.
In addition to licensing, you may also want to consider getting certified through a professional organization like the American Society of Plumbing Engineers or the National Association of Plumbing-Heating-Cooling Contractors. These certifications can help you stand out in the competitive plumbing market and may be required for certain types of work or to register your business.
Additionally, you will need to obtain a business license so you can legally own and operate a business in your state. Once you’ve obtained your business license, you should also obtain business insurance. Business insurance will protect you and your employees from any accidents.
Step 2: Determine your target market
Before you start your plumbing business, you need to have a clear idea of who your target market is. Are you going to focus on residential plumbing or commercial plumbing? Will you serve a specific geographic area or are you willing to travel?
Answering these questions will help you narrow down your target market and determine what type of plumbing services you will offer. For example, if you want to focus on residential plumbing, you might offer services like fixing leaks, unclogging drains, and installing new fixtures. If you want to focus on commercial plumbing, you might offer services like maintaining and repairing complex plumbing systems in office buildings and other commercial properties.
Step 3: Create a business plan
Now that you have a plan for your plumbing business, it’s time to start making it happen. A business plan is a roadmap that outlines your goals, target market, financial projections, and marketing strategy. It can help you stay organized and focused as you start your business, and it can also be used to attract investors or secure loans if you need financial assistance.
Your business plan should include the following key elements:
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- Executive summary: This is a brief overview of your business, including your mission, services, target market, and financial projections.
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- Market analysis: This section should include an analysis of your target market, including demographics, competition, and market trends.
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- Services: This section should outline the specific plumbing services you will offer and how you will differentiate your business from competitors.
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- Marketing strategy: Word-of-mouth marketing is not always enough. It’s important to establish an online presence as well. This section should detail how you plan to promote your business and attract your customer base, including any marketing campaigns or partnerships you plan to pursue.
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- Financial projections: This section should include projected income and expenses for the first few years of your business, as well as any anticipated capital investments.
For more information on creating a successful business plan, check out our Plumbing Business Plan: Complete Guide
Step 4: Choose a business structure
There are 2 main pricing structures you can choose from for your plumbing company; flat rate or time and materials. The Payzer plumbing pricing guide will help you decide which structure is right for your business and help you create profitability. Additionally, you want to ensure that your pricing is competitive. As you outline your business plan, it can be helpful to do competitor research to understand the services and price points your competitors offer before you price your own services. Lastly, markup your products and services enough to account for unforeseen emergencies, repairs, or delays.
Frequently Asked Plumbing Business Questions
1. Is a plumbing business profitable?
Owning a plumbing business can be extremely lucrative. In general, plumbing business owners can earn upwards of $80,000 per year. A master plumber earning $40 an hour and billing 8 hours a day will earn $100,000 per year. Don’t forget to also factor in other costs including, but not limited to, plumbing equipment, employees, marketing budget, transportation, etc.
2. Is owning a plumbing business hard?
Owning a business is never easy, especially when just starting out. Building a successful plumbing business is even harder. There may already be established business in your area. However, with a proper business plan in place and a good team, there is no reason you shouldn’t see success.
3. Is a plumbing business a good idea?
Yes! Owning your own plumbing business is a great idea. It’s a rewarding experience to not only help clients in your area, but to also create your own success. With a business plan in place, you’re going to be one step closer to being successful in the plumbing industry.
4. How do I get clients for plumbing?
To get more leads that convert into plumbing jobs:
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- Focus on reviews and referrals from existing clients
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- Look into advertising locally
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- Partner with your local hardware store to leave business cards and materials
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- Canvas an area near a current client’s home
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- Update your website and look into SEO
Partner With Payzer: A Plumbing Software Company
Having a technology partner like Payzer can help you gain early success in your plumbing business. Its field management system, Payzerware, takes care of many day-to-day tasks such as simplifying scheduling & dispatching, enabling your team to collect payment in the field, customer notifications when the tech is on the way, and so much more! With over 20 features and a seamless mobile workflow, Payzerware helps contractors increase revenue of 26% in the first year.
