The process of making decisions that lead to the establishment of a business can take just as long as the actual execution of those decisions. Starting a plumbing business, like any other business venture, necessitates extensive planning both before and after the decision to start one is made. Otherwise, the time spent going back on hasty decisions could get your plumbing company off to a bad start, wasting both time and money.
The first step in starting your own plumbing business is deciding whether you will be the sole plumber and company owner or whether you will hire others. Some entrepreneurs begin as self-employed individuals who work on a contract basis, but as their client base grows, they gradually hire more employees. They may also make the transition from doing actual plumbing work to working behind-the-scenes on business administration. If you plan to hire employees for your plumbing company at some point, you should familiarize yourself with labor laws, such as workplace safety, minimum wage rates, and payroll deductions.
Check which health and safety regulations and licenses apply to home plumbing in your area to ensure you’re on the right side of the law when it comes to starting your plumbing business. Because there is no federal law establishing plumber licenses in the United States, licensing and taxing regulations for plumbers vary by state. Plumbing repairs and installations on residences and buildings are usually governed by building and plumbing codes. You will need to obtain plumbing permits on behalf of the building’s owners if they are required. Self-employed plumbers may need liability insurance in addition to licenses and permits, so check with your local insurance carrier to see what type of liability insurance you’ll need.
A plumbing business, like any other new business, must obtain a company registration number from the government, even if it employs only one person. Applications for forming a corporation can usually be found on the official website of your state or province, and can also be completed and submitted online for less than $100 US Dollars (USD). If you don’t have a name for your plumbing company yet, you can still complete the registration process and receive a random registration number to identify your business, which you can later change to a proper company name.
You can begin purchasing stock or inventory after the official paperwork for your plumbing business has been completed. Water meters, softeners, and heaters are examples of required plumbing equipment, as are heat exchangers, backflow preventers, expansion tanks, pumps, filters, and gauges. You can start spreading the word that you are officially in business once you have everything you think you’ll need to start taking on projects. Word-of-mouth marketing to family, friends, and associates is the best way to start marketing yourself in the early stages. Starting small and working your way up to larger forms of promotion, such as TV or radio ads, will help you avoid being overrun with orders you can’t fulfill.