What Does a Plumber Need To Start a Business?
If you're thinking about starting your own plumbing business, you'll need to have the following:
- High school diploma or equivalent
- Trade schooling or an apprenticeship program
- State license, if required
- Liability insurance
- Vehicle for transportation
- Tools and equipment
- Portfolio of your work
- Business cards and marketing materials
In addition, you'll need some cash to get started for things like licenses, permits, and advertising. You should have at least $5,000 saved up to cover these expenses. Don't worry, you'll be able to recover those start-up costs in no time because the answer to the question how much do plumbers make is "typically plenty!"
What Are the Typical Business Structures for Plumbers?
There are several different business structures that plumbers can choose from.
Sole Proprietorship
If you're just starting, a sole proprietorship may be the best option for you. This structure is the simplest and most common for small businesses. It's easy to set up and you'll have complete control over your business. The downside is that you'll be personally liable for any debts or losses incurred by the business.
Partnership
For partnerships, you have two options. If you're partnering with another plumber, you'll need to choose between a general partnership or a limited liability partnership (LLP). A general partnership is the simplest structure and gives each partner an equal say in the business. An LLP provides some protection from personal liability, but it's more complex to set up.
Corporation
If you want to protect your personal assets from debts or lawsuits, you may want to consider incorporating your business instead. This structure gives you more control over the business and can help attract investors. However, it's more complex to set up and maintain than other structures.
LLC
An LLC (limited liability company) is a business structure that offers some of the benefits of a corporation but without complexity. This may be a good option for plumbers who want the protection of incorporation but don't want the hassle of dealing with a corporation. You keep your personal assets separate from your business assets in this arrangement, which is why it's a popular choice.
How To Get Licensed
Depending on your state, you may need to get a license to practice plumbing. The requirements for licensure vary from state to state, but most require you to pass an exam and have a certain amount of experience working as a plumber. You can find more information on your state's licensing requirements by visiting the website of the plumbers' union or licensing board.
Tips for Getting Started
Now that you know what it takes to get a plumbing business going, you're ready to get started!
Gain Experience
Don't have any plumbing experience? If you're interested in starting your own plumbing business but don't have any experience, becoming an apprentice is a great option. Working as an apprentice allows you to learn the trade from experienced plumbers. You'll also be able to earn money while you learn. Most apprenticeship programs last for four years.
During that time, you'll rotate through different aspects of the trade. You'll learn about things like installation, repair, and maintenance. You'll also learn about different types of plumbing systems, such as residential, commercial, and industrial. By the end of your apprenticeship, you should have a good understanding of the trade and be able to work independently.
Get Insured
Before you start your first job, get insured. Make sure you have the proper insurance in place to protect yourself and your business. There are different types of insurance and, depending on what kind of business structure you have, your needs in this area might change.
Build a Portfolio
Next, build a portfolio of your previous work. This can help you attract new customers and show off your skills.
Network
Also, start networking with other plumbers in your area. Building relationships with others in the industry can help you learn from their mistakes and find potential clients.
Advertise
To gain customers, advertise your business. Use flyers, postcards, and other marketing materials to let people know you're open for business. Also, you'll want to set up a website and social media pages for your business to increase your advertising footprint. This will give customers another way to find you and learn about your services.
How To Deal With the Competition
While plumbing is an in-demand trade, it's important to remember that there is competition in every market. When starting your own plumbing business, you'll likely be competing with other plumbers in your area who are already established. This means you'll need to find ways to set yourself apart and offer a unique service that customers cannot find elsewhere.
One way to do this is by specializing in a particular type of plumbing work. For example, you could focus on drain cleaning or repairing burst pipes. Offering a specialized service can make you more appealing to customers and help you stand out. Another way to set yourself apart is by providing excellent customer service. Plumbers often work directly with customers or clients, so it's important to be able to answer questions, provide estimates, and professionally address concerns.
How Much Do Plumbers Make?
The average plumber makes around $50,000-$60,000 a year in America. This can vary depending on your location and experience, but it's a good starting point to know what to expect. In a recent study from 2020, the top-paid plumbers made $75,370 that year while the lowest-paid made $42,330.
The Benefits of Being a Plumber and Starting Your Own Business
Stability
First, plumbing is a stable industry that is always in demand. For as long as there are humans, there will be a need for sinks and toilets. Therefore, plumbers will always be in demand. You can be confident that your business will have consistent work.
Job Flexibility and Freedom
Second, starting your own business allows you to be your own boss and set your own hours. You'll be able to work as much or as little as you want, which can give you a great deal of flexibility.
Variety
Finally, being a plumber gives you the chance to travel and work in different settings. You may find yourself working on a construction site one day and home the next. This variety can be a great perk of the job.
What Are the Key Skills Required for Plumbers?
Plumbing work requires a certain set of skills. If you're thinking about starting a plumbing business, you must have the following key skills.
Troubleshooting
Plumbers need to be able to quickly and effectively diagnose problems with plumbing systems and then find a solution. They might find themselves working with everything from a simple clogged drain to a complex plumbing system for a new construction project.
Math
From measuring pipes and fixtures to calculating flow rates and water pressure, plumbers use math daily. Plumbing work often requires basic algebra skills. Therefore, you must brush up on your math skills before you start!
Creativity
Plumbers often need to come up with creative solutions to complex plumbing problems. They may need to repurpose materials or work around obstacles in tight spaces.
Mechanical Aptitude
Plumbers need to be able to read plans and drawings. They also need to be able to understand how plumbing systems work and have a basic understanding of mechanical principles. In addition, plumbers need to be able to use a variety of tools. Some of the more common tools plumbers use include wrenches, screwdrivers, pipe cutters, and saws. If you're someone who naturally understands hand tools or has prior experience, then you're well on your way!
Customer Service
Plumbers often work directly with customers or clients. They need to be able to answer questions, provide estimates, and address concerns in a professional manner and with a good attitude.
The plumbing industry is a stable choice for anyone looking for a low-cost business to start. With a little hard work and planning, you can be on your way to starting your own successful plumbing business. Are you looking to create your own plumbing business? Reach out to ServiceBox today to help you get started! We created a full-feature software solution for service companies of all industries, and it's priced to ensure you see a return on your investment!
