Assembling a flourishing plumbing business can be a daunting task. Some of the main elements that can make or break success are universal and the same for any other type of company. Then again, there are also some specific requirements that the plumbing sector puts forward.
It all starts with a single person, but as demand ramps up, that person must hire workers, take off the tool belt, and take on multifarious aspects. Business owners must know the industry backwards and forwards, and develop a deeper understanding of tricks and tools of the trade. They need the game plan on not only how to survive, but also on how to develop a thriving business.
Foster word of mouth
When making a decision, most customers rely on recommendations from their neighbors, friends, colleagues or family members. Thus, you have to come up with strategies of spurring word of mouth. First off, strive to get testimonials and feature them on your website or brochures. You can also offer rewards for customer referrals. Let people do the marketing for you free of charge and save tons of money on marketing.
Embrace the internet
Nowadays, all sorts of businesses are expected to have an online presence. Plumbing companies are a bit slow to adapt to digital surge, but those that do have a powerful competitive edge. Namely, a well-designed, SEO-friendly website is a great way to attract new consumers, take your customer service to the next level and carry out affordable, high-impact marketing campaigns.
Make sure to set yourself apart from the competition. A trusted plumber has heads-on experience, complies with all the codes and laws, has good communication skills and exceeds customer expectation. For instance, all plumbing companies offer services like drain cleaning and pipe repair, but what about the niche services? Well, let us just say that customers are prepared to pay more for specialty construction and custom baths.
Get into the funnel
Many plumbing companies are satisfied with breaking even within the first two years. However, with the right approach, it is possible to make a profit sooner rather than later. So, create a funnel model that enables you to generate leads and then turn them into sales. There is a wide array of tactics that prove to be fruitful: Offer discounts to repeat customers, incentivize them to come back and provide follow-up services.
Handling serious business
A plumber who becomes successful is a plumber who acts more as a business manager than a worker. He must grasp the administrative side of running a business and tackle human resources, finances, marketing and other aspects. Merely making service calls every day does not cut it anymore. You now have to give training and guidance to employees and ponder on ways of promoting your business.
The quality of the service is not the only selling point you have. In this day and age, energy efficiency is the name of the game. One of the prime goals of homeowners is water conservation and they want plumbing systems to serve as mainstays of this undertaking. So, empower customers to pursue their energy-efficiency goals and embrace green practices and technologies.
Settling financial matters
Finances deserve a bit more attention. Namely, it is of the utmost importance to gain a detailed picture of the expenditures, including labor, material, equipment, marketing, etc. This is no walk in the park as you have to consider complex matters such as depreciation of the equipment like trucks. In any regard, once you figure out your overhead costs, you can set up a pricing structure and turn your attention to the income side.
Ahead of the curve
If you want to build a sustainable business and stay ahead of the pack, you must step up the game in multiple departments. Provide a service your customers cannot do without. You want your business to be the first one they think about when they have a plumbing issue. Navigate the market waters with a thorough roadmap, find your niche and carve it out.
Get on top of emerging trends, stay abreast of changes and master the numbers game. You can never afford to become complacent, so improve continually and fine-tune your business on a regular basis. Remember that reputation is one of the most valuable assets you possess and do not expect to run a company and conduct repairs at the same time.