Starting your own business is the best way to achieve financial independence and take control of your family’s financial future. If you are thinking of becoming a plumber and operating your own company, here are some things you should know before you begin.
Get Licensed And Certified
Wherever you are in the United States, you will need to get qualified and be certified to be a professional plumber. You will also need to be a licensed business in your state or local municipality before you can begin offering your services legally.
Your local government and local Chamber of Commerce office can help you a lot. Not only do they have the knowledge of local regulations you need to operate legally, but they also know a lot about the needs in the local area and where you should start trading to get yourself going.
Insure Your Business And Yourself
When things go wrong, you need to know you have liability insurance to cover the cost of any damages. Accidents happen, and if someone is injured by your equipment or the work you have completed, the costs can be huge. You need to get some commercial liability insurance to protect your business and to protect yourself.
The cost of insurance for professional plumbers is low, but the money it can save you runs into the hundreds of thousands or even millions. With a comprehensive insurance package, you can work with confidence, knowing that even if something goes wrong it won’t stop you from operating or cause your business to go bankrupt.
Get Networking
The best kind of marketing for any business is word of mouth. You should still be promoting your services online and in local media, but the best way to get going is to get to know other contractors. They will often have work that you can help out on, like house renovations and building new houses and commercial buildings.
You may even be able to get some work from other local plumbers, even if they are your competitors. They may need an extra pair of hands on a job, or they have more work than they can handle and need you to do it for them. Either way, it gets the ball rolling and gets your name out there.
You Will Need Professional Transportation
Having a truck or a pick-up is a necessity for the modern plumber. You will have plenty of equipment and supplies to move around, and many of them will be heavy and cumbersome. A professional plumbing vehicle is also mobile advertising for you and your business, providing you get some signage on the side.
There are two main choices to make here: buy something second-hand or lease/finance a new truck. Both have their advantages. Buying second-hand will be cheaper in the short-term but could come with costly maintenance expenses down the line. Financing, leasing, or buying a new truck means you will be less likely to pay for repairs any time soon, but can add a lot to your operating costs.
With the paperwork in place, transportation ready, and some advertising on local and social media, you have everything ready to take control of your financial future and begin a plumbing business of your very own.