How to Start a Plumbing Business

According to the Bureau of Labor Statistics, the plumbing business should witness a 16% increase faster than average in the next seven years. Some plumbing business owners have been in the industry for more than 20-39 years and are soon exiting it. This is obviously paving the way for newbies to enter the business and increase the sector. Currently, the plumbing industry has a whooping value of $124 billion, which means it’s a pretty intriguing business.

However, before you start a plumbing business, there are some things to take note of, such as:

Work experience
Technical know-how
Prices of equipment
Job costing

Most importantly, you must be a plumber, or else you’ll spend most of your budget on finding several that you can trust to do all of the actual work. And every trade business always works towards one particular goal, which is the great satisfaction of customers. The plumbing business is no different, but studying and taking the proper steps will help you achieve such a target

What Is Plumbing?

When people have to build a house, they must consider a plumbing service because, without it, their home is incomplete. That being said, plumbing is the process of putting pipes and tubes in place to enable the circulation and usage of water, along with the removal of water-associated wastes. Several plumbing services exist, although each one will have some general roles associated with them.

The primary roles are:

Installation
Repairs
Maintenance

Several types of plumbing services that plumbers carry out include:

Gas fitting: these plumbers ensure installation features such as stoves and hot water units
Drainage: plumbers that carry out drainages dig places to start installing pipes and also do some groundwork repairs
Sanitary: these plumbers install materials like waste pipes, toilets and bathroom sinks, as well as ensure they are well connected
Irrigation: plumbers who ensure that fluids are controlled well from the beginning to the end by installing valve materials
Water supply: plumbers involved with water supply always ensure they install or repair sinks and hydrants

Facts About Plumbing Businesses

Setting up a plumbing business is a great idea because of its nearly limitless potential. Even though the jobs may be dirty and involve a lot of hard work with handling waste materials, there will always be a need for plumbers.

In case you are thinking of beginning a plumbing business, here are some statistics that can provide you with even more information:

Over the last five years, plumbers have witnessed a 2.5% increase in the average growth of the industry (Industry Research Report, 2022)
As of 2015, plumbers were making an average cost of $50,620 per annum (Bureau of Labor Statistics, 2022)
By 2025, the plumbing fixture market may reach $121.9 billion (Grand View Research, 2019)
In 2021, the revenue generated by the global plumbing industry amounted to $4.56 trillion (one desk, 2022)
120,467 plumbing businesses exist in the US only (Industry Research Report, 2022)

Setting up a Plumbing Business

Plumbers are respected all over the world because of the vital roles they play in ensuring safety and healthier living. Are you possibly tired of working for somebody else and want to start your own plumbing business but don’t know how to go about it?

Don’t worry; here are five actionable tips that can help you set up a successful plumbing company.

1. Come Up With a Winning Business Plan

Before anyone can think of starting a trade business, there has to be a concrete plan set in place for guidance. Although creating this plan may take some time, it’s actually worth the time.

Having a well-researched plan for your plumbing business provides you with the following:

Clear purpose
Business organization
Well-defined strategy

There are certain things that your business plan must contain, such as:

Market strategy and analysis
Realistic goals
Growth chances
Financial viewpoints
Executive summary

Most trade business plans help owners focus on primary priorities to help them achieve their goals. This business plan will help you overcome little challenges that may become a bone of contention during implementation.

2. Acquire Workplace Safety Software

Since plumbing is a trade business, it’s inevitable for hazardous issues not to come into play. So many risks and injuries are associated with the plumbing business, especially when carrying out a job on-site.

Acquiring workplace safety software can help to:

Drastically reduce accidents
Promote safety culture
Diminish risks

What workplace safety software does for your business is present automated health and safety information.

Workplace safety software helps your business by:

Organizing safety processes
Improving employee productivity
Providing correct timing insights

Features of workplace safety software include:

Cloud-based ability
Easy usage
Efficient security

3. Carve Out a Specialization for Yourself

If you want to succeed quickly as a plumbing business owner, specializing in any available services is very important. While some plumbers are good in all services (like drainage, water supply and sanitary), it can help you to stand out from the competition by offering specialized services. You can take time to study the industry trends and carve out a niche where you can provide much-needed services to your customers.

4. Implement a StellarMarketing Strategy

You can’t deny that the world is now digitally inclined and to make any success with your business, using online marketing strategies is essential. One very excellent online strategy you can use is email marketing.

With email marketing, you can achieve the following:

Increase your brand awareness
Attract potential customers
Gain large margins of profit

Although all this may seem so dazzling, be sure that you follow the basic rules about email marketing, especially concerning how often you send out messages. Once your email reaches spam, then there’s not much hope that the recipient will ever read your message.

In addition, Digital PR also offers many budget-friendly strategies, including reporter outreach, interviews and podcasts.

5. Have the Necessary Finances and Equipment

Now that you have a business plan, it’s time to seek funding. Soliciting funds from banks or investment firms will go a long way in realizing business aims and objectives. Also, getting the necessary equipment is compulsory because you can’t do your plumbing job without materials.

Types of plumbing materials you need to prepare to spend money on are:

Hand tools
Augurs
Pipe stocks

Summary

According to One Look, 35% of the revenue generated in plumbing businesses are profits only. Starting a plumbing business can be quite simple when you put the necessary structures in place.