Are you struggling to make your plumbing business work? Although there may not be a miracle fix that will take your plumbing business from a floundering enterprise to a profitable company, there are a series of important steps that you can take to boost your earning potential and expand your client base. Some of these involve good old-fashioned hard work and patience, but others can be achieved quickly by adjusting your business plan and marketing yourself appropriately. Give these tips a try and you should have a profitable plumbing career in your future.
- Get the skills you need. Apprenticeships can be a solid route into the plumbing business for some young people, but an accredited course will work in your favour when it comes to your long-term career plans. It is possible to keep working while you earn licensing and registration certifications by applying for a Certificate IV in Plumbing and Services from an institution like Builders Academy. This will give you the relevant skills you need, while offering registered status to help cement your business.
- Minimise your overheads. If you’re starting out with minimal capital, there are ways to cut your costs without risking the success of your business. Make a clear budget and take a look at all of your overheads. Make cuts where you can. For example, renting an office can take a huge chunk out of your budget every month, when you could potentially work from home. This may take some experimentation, but could save you a good deal of money over time.
- Know your tax benefits. These can vary according to your state and licensing, but it’s always good to be aware of exactly what the tax benefits involved in your business are. Be tax-savvy by doing your research, speaking to your local authority, and hiring an accountant to make sure your taxes and finances are in order. There may be expenses that could be recouped, so keep a clear record at all times and ask for assistance if you’re confused about your rights and benefits.
- Develop a presence online. Too many plumbers and skilled workers in similar businesses neglect the online marketing tools that are available to them in favour of traditional marketing techniques. Many believe that their business is too small to need a digital presence beyond a simple Facebook page, or that they won’t get enough visitors to generate results. In 2017, your online presence matters immensely. A clear, informative website will attract customers and give you the space to expand your reach, while social media marketing can help to reach new customers while allowing you to connect with clients. These tools are truly invaluable, so consider investing some time into developing them.
- Find an area of expertise. There are plenty of plumbers out there, so it’s sensible to set yourself apart from the pack by finding a niche area of expertise and specialising in that particular area. Your expertise could be domestic household jobs or larger construction projects – whatever are you have a particular talent for or interest in. It can take time to find this niche field, but it’s certainly worth considering if you’re interested in growing a successful plumbing business over the long-term.