So, you have your credentials, and now you’re looking to launch your own local plumbing venture. Initiating any business can be intimidating, especially in a field that requires investing in costly tools and equipment before securing your first client.
You don’t need to grasp every detail before you begin—a considerable amount of learning occurs through practical experience. However, having a timeline to guide you during the initial phase of establishing your business can be beneficial, and that’s where the steps presented in this guide come in handy.
Here’s a rundown of what you’ll need to accomplish, from registering your business to attracting customers:
Register Your Business
Your initial task is to select a business structure and register your business name with your state.
For business structure, if you’re operating solo, the simplest choice is to register as a sole proprietorship. Nonetheless, many plumbers recommend starting as a Limited Liability Company (LLC) since this allows you to distinguish your personal assets from your business liabilities. This means that if something goes awry on a job and (in the worst-case scenario) you face a lawsuit, your home and savings are typically safeguarded.
Once you’ve registered your business, you will need to obtain an EIN (Employer Identification Number) from the IRS for tax purposes.
Purchase Insurance and Bonding
Next, it’s crucial to secure the appropriate insurance and bonding for your enterprise.
At the very least, you should have general liability insurance to cover any property damage or injuries once your business is operational. You’ll also need to consider workers’ compensation insurance if you intend to hire staff (this can be delayed until it’s necessary).
Additionally, you may need a surety bond, which essentially assures that you will meet the requirements of your contract, depending on your state or client specifications.
With the paperwork behind you for now, the third step is the exciting part: investing in dependable plumbing tools, a vehicle (preferably a van), safety equipment, signage, and supplies.
Now is the moment to contemplate your branding. You’ll want to create straightforward yet distinctive marketing materials, complete with bold logos and icons that clearly convey your offerings. Check out Military Plumbing for an illustration of effective branding.
Even as you begin, it’s wise to maintain a stock of extra parts and tools so you can answer emergency calls, rather than potentially losing a job due to lack of preparedness.
Establish Your Rates
Setting your rates correctly is crucial—too low, and you’ll undervalue your work or struggle to cover the labor and materials; too high, and your customers will turn to competitors.
Make sure to investigate what other local plumbers are charging in your vicinity to remain competitive. A straightforward way to do this is to reach out to companies for quotes on various jobs. Record the pricing and find an average across all the businesses you contacted.
Customers value transparency, so it’s essential to be honest and clear in your estimates.
Develop a Website and Create a Google Business Profile
Finally, create a website that details your services and contact information, featuring customer testimonials and a portfolio of your work (you can continuously update this). It doesn’t have to be overly elaborate—a DIY website builder like Squarespace will suffice.
Simultaneously, establish a Google Business Profile to ensure you appear in local search results, and encourage your clients to leave reviews.