The plumbing industry is valued at a massive $17 billion. With expanding populations and growing infrastructure across the country, plumbing business owners should seize the opportunity to expand their business and increase their revenue.
Growing Your Plumbing Business
While the opportunities to secure more work for your plumbing business are practically endless, it will take a lot of work and effort to expand beyond your current operating size. Here are 6 simple yet effective ways to grow your plumbing business.
1. Start With Goals
If you want to grow your plumbing business, you should start with a plan and goals to get where you want to go. Make a list of 2 to 3 growth goals. The goals should be specific and have a timeline. For example, perhaps you want to get 5 business referrals in the next 30 days. You’ll know if you were successful or not. Once you have your goals, come up with what actions are needed to accomplish them. If you want to get more referrals, you could create an action plan to cold call 10 builders a week.
2. Customer Referral Program
Your existing customers can be a great source of additional work. Ask some of your top customers to refer your services to their friends, family, and colleagues. You can incentivize them by offering a discount on your services. In addition, ask your customers to leave reviews and testimonials on business listing sites like Yelp and Google.
3. Network With Industry Professionals
Building relationships with certain professions can create a steady stream of new jobs. Professionals in real estate, food service, construction, and property management are always in need of reputable plumbers to help with projects. Spend time attending networking events or reach out to these individuals directly to offer your services.
4. Improve Your Business Operations
Pay attention to what your customers are saying about how your business operates. While you may be great at providing plumbing services, frustration with slow customer service or complicated scheduling tools can drive your clients to your competitors. Improving your internal business processes can improve customer satisfaction and lead to more work.
5. Specialise
There are thousands of general-purpose plumbing contractors in the market. This could hinder your ability to grow because of the sheer number of competitors. Specializing in certain areas (like sprinkler systems or gas fitting) can improve your marketability. By investing in specialized equipment and training for your niche, you can set yourself apart from other plumbing businesses. Also, specialists can often charge higher prices for the work they complete.
6. Hire Employees
At the end of the day, you are limited by the number of hours you can physically work. Hiring employees is the best way to grow your business and take on more projects. This can include both plumbers and other administrative staff to support business operations. Make sure that you carefully consider the cost versus benefit of hiring each employee.
Protect Your Growing Plumbing Business From Risk
The plumbing trade comes with certain risks that could lead to injuring a member of the public or damaging your client’s property. To help protect you from the financial risk of lawsuits, you should carry a comprehensive liability insurance policy. At upcover, our team will help walk you through the process. Check out our instant quote generator where you can get an estimate on market-leading insurance in seconds! Simply enter your occupation and expected revenue to get started.
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