Starting a plumbing business is an economical way to become your own boss. You'll need more than just plumbing experience and technical knowledge to be successful. Establishing a legal business entity, such as an LLC or a corporation, can protect you from being held personally liable if your plumbing company is sued. To get started, configure yourself with plumbing job management software that will suit your business.
Think about who will answer the phones, answer questions and quotes, book appointments, bill customers, promote the business, and handle accounting while plumbers work on plumbing jobs. Common ways to finance a new plumbing business include commercial loans, grants, investors, loans from friends and family, and self-financing through credit or savings. Expenses may include transportation (such as a truck large enough to carry equipment), drain pipes, and other basic plumbing equipment. The daily activities of a plumbing company involve reviewing customer records, repairing and maintaining plumbing lines, and billing customers for services provided.
If you own a plumbing business, start researching common types of commercial plumbing insurance coverage. Investigate the available plumbing software to help you save time and make your business more efficient. You can also purchase a mailing list of people and companies that have previously paid for plumbing services to access a target market for their services. Some companies also spend significant time designing and building new plumbing systems if they work on new construction projects.
As demand begins to exceed the plumber's capacity, more plumbers can be hired as employees or as independent contractors. To make a plumbing company more profitable, consider expanding the business and possibly establishing partnerships with other merchants to offer comprehensive services.