If you’re looking to add another income stream by starting a plumbing business in Idaho, you’re going to need more than just the basic know-how. Sure, it’s a pretty solid business idea because there will always be sufficient demand, but in order to build a successful and lucrative plumbing career, you need a properly registered, legally compliant business.
Most importantly, you need to be prepared for the demands of running your own business. It might be a tad complicated trying to determine if you are indeed prepared to take on this new venture, so here are some telltale signs that you should absolutely go for it:
1.You’re ready to get licensed
If you’ve done your research, you already know that you need to prepare over $2,000 in bonds and exam fees to sit for the test that would give you a license to publicly offer your services as a plumbing contractor. Naturally, you also need to have an existing journeyman plumber certificate to apply for a contractor’s license. This entire process could be taxing, but if you’re ready to go through with it, then you will be a step closer to your dream plumbing business.
2.You can commit to the mandatory continuing education
As a licensed plumbing contractor, you need to complete 16 hours of continuing education every three years to keep your license valid. This is something you must be willing to invest time in, but no worries, as there are resource centers that will help you comply with continuing education requirements, without any hassle on your part.
Keep in mind that continuing education is important not just for the purpose of renewing your license, but also in terms of keeping you updated with all the new practices and plumbing trends that will give your clients better value for hiring your services.
3.You have a deep client prospects list
Speaking of clients, you’d know you are ready to go into business when you already have a deep list of initial prospective clients. These could be family and friends living in Idaho, or even a couple of neighbors who you know are in regular need of a plumber. It doesn’t matter whether or not you’re certain that they will avail themselves of your services once you finally get your plumbing business off the ground. Worry about marketing your business later — for now, it’s enough to know that you at least have an audience to try and convert into future clients.
4.You have all the basic skills
Sometimes, professionals spend too much time honing their specializations that they tend to forget their basics. Sure, knowing how to solve huge plumbing issues would look nice on your resume, but keep in mind that most of your clients in Idaho would be seeking your help for some of the most basic plumbing problems that you should be able to do in your sleep as a licensed plumbing contractor. Can you imagine how horrible it would look if you drop the ball on these basic tasks? So make sure you brush up on all the beginner tips every plumber should already know.
5.You have enough money for capital
Aside from the money you need to shell out for the license exam, you also need capital for any gear or equipment you would need for your projects. Naturally, clients would expect you to bring your own tools. You could probably get by with borrowing or renting tools in your first few months in business, but eventually, you would really need your own things. So having enough money for these purchases is definitely a good sign that you’re ready to start your business very soon.
6.You’ve done market research
The last piece in your puzzle — the last sign that should assure you that you’ve done everything there is to do to start your plumbing business — is none other than market research. You can’t simply put your business out there blindly, without knowing your target market and your competition. You need to know what you’re up against, so you can strategize well in terms of the services you will offer and how much you’ll charge for them.
Remember the old adage that finds its best application in business: when you fail to plan, you plan to fail. So while you might be itching to start this new venture of yours as soon as possible, try to be patient and hold off on actually launching it until you’ve gone through this checklist of signs that you are indeed ready to start a plumbing business in Idaho. Good luck!