Plumbing business in the U.S. has been noticeably increasing its profits and employment growth rates lately, as more and more people decide to entrust small plumbing tasks around their houses to professionals and more and more builder’s companies are gaining momentum and add to their construction activity after the crisis period. It would seem to be a positive factor that should contribute to the development of plumbing business. But, the growing amount of orders, subsequent emergence of new plumbing service shops and, consequently, the reduction of unemployment in this sphere are positive effects that are significantly outweighed by the increasing competition in the market of plumbing services.
It’s a serious drawback for businessmen, as they have to face the situation where they have to fight tooth and nail for their place in the market. It becomes harder and harder to build up a client base, receive enough orders to keep the business profitable, not saying about ensuring growing and expanding perspectives. New start-up companies are struggling because of it the most, as they have to start from scratch and somehow gain the customers trust, who’re already accustomed to using the services of well-known experienced companies, who have great references, experiences professionals in their stuff, excellent tools and equipment.
On the other hand, high free competition opens up better opportunities for businessmen to develop their companies, as market in this case depends on the customer’s choice. And, a rational customer opts for better quality services provided at reasonable prices, considers companies’ attitude towards regular clients, appreciates personal approach and high professionalism, and takes into account companies’ image and reputation. Besides, great marketing, discounts, quick execution of the given tasks and guaranteed compensation in case of liability will also influence the clients’ minds and direst their choice towards the company, which provides the best conditions.
That’s why you may find the way to grow your plumbing business by developing some of the aspects of your activity, introducing new services, improving your marketing strategy, increasing efficiency by hiring additional stuff and/or updating your equipment. Generally, you have to develop to meet the customers’ needs and requirements the best way possible, and, of course, satisfy the needs of more and more clients to increase the revenue. So, if you’re interested in that and if your plumbing business is ready for a change, let’s figure out what you can do to grow it.
Should you think about that at all at this point?
First of all, you have to estimate your resources to understand whether you have enough of them to expand your business. As, on the contrary to the stage where you’re just opening a plumbing company or starting a one-man plumbing shop, it’s not really wise to take loans when you see that your company is not quite profitable even now.
Just figure out what are you doing wrong to make your business operate better before making any further plans. Check prizing policy, marketing activity of your company, quality of services you provide and operation costs to see what hampers the development of your plumbing business.
Then, once you think that your company is really ready for a change and has all necessary means for that matter, explore the local market of plumbing services to see which sector needs better and bigger companies (if there’s such need at all). Then, if that’s done and research has bought positive results, start preparing a well-thought and detailed expansion plan. Include the estimated expenses, expected benefits and incomes.
Finding your own niche on the market of plumbing services
When you’re a single plumber, you tend to take on various plumbing jobs, usually connected with helping ordinary house owners with their plumbing problems. But, as you develop and grow your business, you may start working with commercial clients and find a narrower specialization. Maybe, you’ll only deal with installation and repair of sanitary equipment, or heating, or installing a plumbing system for the entire house. Your preferences depend on the market’s tendencies and on what you and your employees do better.
Marketing strategy
It’s probable one of the most important things to consider, as advanced marketing really makes a difference in company’s competitiveness and image, makes it more visible and more attractive to the customers, which leads to increasing flow of orders and, consequently, profits. So, you have to:
- Be recognizable – design company’s logo, slogan, introduce a uniform to your employees, spread the word about your company through the paper media, leaflets and business cards, talk to potential clients, who’re interested in making a big order to plumbers (like builders, indoor contractors, etc.).
- Ensure online presence – promote your services on social media, as people don’t seem to be able to live without Internet and phones now, so they look for a solution of any problem there. Make your own profiles on hiring websites, or post a free add there. You may easily do that on HireRush.com, where ordinary people from various cities all over the U.S. propose their services or post job offers. So, check out our site to create a business profile of your plumbing company. By the way, it’s free! Create a business account
- Get great references – people want to hear that you’re experienced professionals who provide excellent plumbing services. And, nothing works better than the proof from your own clients.
- Provide clients service and special offers – come on, who doesn’t like discounts?
- Offer better prices – that’s the most efficient thing, but don’t go overboard not to operate at a loss.
If you want to learn about marketing and promoting your own business more, check out one of my previous posts, where I talk about that in detail.
Expanding the staff
Especially if your plumbing business has been operating as a one-man shop, you probably won’t be able to go any further without hiring additional staff. And, most likely, you’ll have to stop serving as a plumber and become a full-time manager of your business, as you’ll have to deal with increasing amount of work related to finances, legal stuff, etc.
However, hiring employees is rather complicated, as to be capable of doing that, you’ll have to obtain required permissions, take care of insurance issues for your future employees and so on. Basically, it’s better to consult with a professional lawyer to receive legal information on this question, which is relevant for your local area, and get a much-needed advice on the procedure.
Nevertheless, if you go through this process and end up hiring employees, you’ll be able to take much more orders of different kinds. That will not only add several points to your company’s competitiveness, but it will also raise incomes.
Just make sure that you hire highly qualified and licensed plumbers as the members of your stuff not to lose a face in front of your clients when one of your plumbers does a terrible job.
Ensure high quality services
That’s pretty obvious tip, but I’ve still decided to mention it. High quality services attract clients and make them rehire in the long run. Regular customers will even agree to pay a little bit more than they could have paid if opted for cheaper alternative just to. They just have to be sure that you’ll do a perfect job and they won’t have to attempt to fix broken pipes or unclog a sink any time soon, or, even worse, finish the ‘professional’s’ work. So, improving the quality of plumbing services your company specializes in is a step you should really concentrate on. opt for better equipment and safer supplies; offer your employers a free opportunity to go through additional professional training to perfect their plumbing skills.
Keep in touch with regular customers to maintain a permanent guaranteed cash flow
It’s very important to develop a bilateral communication between your company and regular clients to make sure that they rehire you once they need a plumbing job to be done. Special discount system works well, but you have to go further than that.
Call the most loyal (and the most profit-making) clients every once in a while to check if everything is all right considering plumbing system in their houses, remind them of the necessity to carry out regular checks and cleanings (and, offer your cervices, of course). Update them on newer services you’ve started providing. Let them know about the new regarding discounts, special offers, etc.
People prefer not only those companies, which provide decent plumbing services at reasonable prices, but also the ones, which treat them well and actually care about the job they do.
Be a leader
Inspire your colleagues to do a better job, strive to achieve better results, build a better company which provides the greatest services in the local area. Work in a team with them, lead your team. Improve both your business and plumbing skills to be a positive example for your co-workers and a professional your clients are willing to trust.
