Growing a business is challenging in today’s economic climate, but plumbing companies and other trade organizations have the advantage. There will always be a need for qualified plumbing professionals locally, which means almost every plumbing business has potential for growth.
Scaling a business requires a handful of essential tasks – building the workforce, investing in new equipment, expanding business relationships, and devising new marketing strategies. Business leaders should keep these four critical considerations in mind to build a successful plumbing business.
1. Investment in tools and equipment
Traditional services like toilet and pipe repairs will always be central to any plumbing business, but businesses need to invest in new technologies as they grow. There is an ever-increasing demand for innovative plumbing services and devices such as instantaneous water heaters, WiFi-enabled filters and leak detection systems.
In addition, managers must provide their employees with reliable tools and carry out necessary upgrades. Advanced products such as self-tightening cutters, electromagnetic pipe locators and cordless crimping tools are three recent innovations that will improve worker productivity. The upfront cost may be expensive, but the long-term value is worth the investment.
Sustainability is another important factor to prioritize, especially when it comes to commercial building maintenance. A recent survey of property managers shows that 88% of commercial properties will invest in energy incentives over the next five years. That means sanitation companies should offer sustainable services like smart toilets, touchless faucets and gray water systems.
More tools and equipment also require additional storage space and transport options. Businesses need to find a secure location, ideally with 24/7 surveillance, to protect their assets. They also need larger vehicles to transport their heavy equipment. Gooseneck trailers typically have a payload capacity of up to 25,000 pounds and come in a variety of styles.
Growing companies should also consider investing in electric company vehicles. Electric vehicles require significantly less maintenance than petrol cars, giving the company a reputation for sustainability. In addition, some electric vehicles come with generous tax credits.
2. Personnel and Training
Plumbing companies need to hire and train more staff as they offer additional services. Unfortunately, manual trades have not been particularly effective in attracting Gen Z workers. The plumbing workforce is aging and some companies may struggle to find young, skilled workers.
Today’s limited workforce requires some basic recruiting and training strategies to accelerate growth:
● Well-written and defined job descriptions
● A multi-stage interview process
● Flexible training programs
● Opportunities for advancement within the company
● Apprenticeships, performance-related pay and other incentives for new hires
Establishing a unique corporate culture is also important. Professionalism comes first. Growing businesses need to set high standards of performance so that customers, clients and potential employees take them seriously. However, officials should also create a supportive environment in which employees feel comfortable voicing their ideas and airing their grievances.
Great ways to showcase company culture to potential hires include social media content, recent employee testimonials, and team success stories. All companies need to provide social proof that they are a great place to work.
3. Establish contact with suppliers and contractors
Social proof is also essential for reaching out to new suppliers and contractors. You need concrete evidence that the company is trustworthy and reliable. This task requires some old-fashioned networking. Get out there and initiate conversations with other business owners. Be visible, available and keep all lines of communication open.
Research is the second key to building strong relationships with new suppliers and contractors. Keep these points in mind when researching other companies:
● Evaluate the convenience of business location
● Look for industry certifications
● Assess the financial stability of the company
● Find statistics on lead times, delivery rates and other relevant metrics
● Determine the company’s flexibility for large and small orders
● Contact past customers to rate their customer service
● Observe the work culture and identify the company’s core values
If you gather this knowledge before negotiating, the chances of getting a favorable offer increase. Make clear but reasonable demands. When it comes time to sign the contract, read the fine print and familiarize yourself with the payment terms.
Supplier diversity is also extremely important given the volatility of global supply chains. It’s never a good idea to rely on just one supplier. Small business owners always want maximum flexibility in their purchasing decisions. Geography and product variety are the two key factors here. Officials should resort to non-local suppliers and use different vendors for different product categories to ensure continuous operations in the event of a system disruption.
4. Strategic Marketing
Marketing used to be a straightforward task, but the wide range of online platforms has made it more complicated. Traditional sales pitches are no longer effective. Maintaining a constant online presence and frequent interaction with the target audience is crucial. These tactics should serve as the foundation of your marketing strategy:
● Stay active on social media
● Start an email newsletter
● Participate in community events
● Register for various online rating platforms
● Structure of the company website with informative content
● Keep the Google My Business profile up to date
Don’t neglect old-school marketing techniques. Put stickers on your water heater installations that say to call YOU for emergency service. Leave business cards or fridge magnets with company information. Be sure to wrap your truck with bright colors and a distinctive company logo.
Interacting with customers isn’t the only way to get relevant feedback. Listen to what your employees are telling you, what your customers want and need, and then try to implement your product and service offering. If you expand this service offering by adding drain cleaning or sewer cleaning services, for example, use this as an opportunity to engage with your customer base. Each point of contact increases the likelihood that they’ll call your company the next time they need to call a plumber.
Ensure constant business growth
Investing in new technology, building a well-connected workforce, maintaining strong business relationships, and implementing effective marketing strategies are the four critical components to growing a business.
Keep these fundamental factors in mind every day to ensure continued growth. Long-term profitability doesn’t come overnight—it takes weeks and months of efficient action.
Oscar Collins is Editor-in-Chief at Modded. Follow him on Twitter @TModded for regular updates on his work.
www.contractormag.com
https://www.contractormag.com/management/best-practices/article/21267374/4-critical-considerations-when-scaling-a-plumbing-business
