Growing a plumbing business isn’t something that just happens. It takes careful planning and strategic decisions to create the right conditions for sustained long-term growth. Whether you are looking to invest in state-of-the-art equipment for larger jobs, more vans to meet increased demand or even purchasing commercial real estate for an office expansion, there are some key steps that must be taken to ensure your plumbing company has the infrastructure it needs to grow.
As your business grows, you will need to shift from a technician-focused role to one of manager. This means delegating tasks and focusing on developing processes that can be easily replicated by your new team members. Ultimately, this will allow you to spend more time pursuing customer leads and creating marketing campaigns that will drive business growth.
Pricing
Establishing the right price for your services can be tricky. Too low and you may not be able to cover your overheads; too high and you risk alienating potential customers. Conducting a full cost analysis is the best way to figure out if your hourly rates need to be changed.
Recurring revenue
Offering recurring services to customers is a great way to make your business more profitable and grow your client base. Whether you are offering monthly maintenance plans or annual repairs, this type of revenue can make a big difference to your bottom line and ensures your plumbing business is stable over time. To boost recurring revenue, consider offering upgrades and add-ons to your service offerings and encouraging customers to provide feedback on their experience.