Starting your own electrical contractor business as an electrician is probably the next phase of progress after you have been working for someone else. With loads of experience under your belt, you may think you are ready to be your business. But are you?
Navigating the path of entrepreneurship, although rewarding, isn’t easy. If you are thinking of starting your own electrical contractor business, this quick guide will prepare you. We’ve listed the steps you need to take to turn your hands-on skills into a full-fledged electrical business.
Write an electrical business plan
It all starts with a plan. Your electrical business won’t get off the ground unless you have an electrical business plan. A comprehensive business plan is needed to give your business a purpose, structure, and strategy. A typical business plan includes the following:
- Short/long-term goals
- Financial projections
- Marketing strategies
- Growth opportunities
Identify target markets
The main source of electrical business is traditional power and lighting projects. However, you can diversify your service offerings in alternative markets such as residential and industrial automation and green energy systems. Being a specialist service provider in these alternative markets will help you have a competitive edge.
Hire skilled workers
Your customers will expect you to provide reliable, safe, and quality service. To meet these expectations, you’ll need to hire electricians who can deliver that level of service. So, make sure you take the greatest care to find competent and trustworthy employees to work for you.
Get the required licenses and permits
You will need an electrical contractor license and permits to run the business. Check up with your local area or state to determine the compliance requirements for diversity, public safety, and occupational health. Apply for electrical business licenses and permits accordingly. Also, take out public liability and professional indemnity insurance and insurance to cover your premises and equipment.
Set up your operations
Set up your business operations depending on your budget and your business goals.
- If you wish to operate from home, check the local requirements. If you want to buy or rent commercial premises, hiring a real estate agent is always a good idea to help you find the right property within your budget.
- Contact electrical equipment suppliers and draw up a contract with the right one.
- Buy or lease a vehicle for transporting your electrical equipment and supplies to the job site.
Be mindful of new technology and trends
Technology benefits customers as well as businesses. To ensure that you are not left behind in this competitive field, pay attention to the latest technology and trends. For example, green buildings are trending now. Your offerings should include eco-friendly services to compete with other electrical contractor businesses.
Many companies use field service management software to streamline business processes and improve efficiency which can easily translate to enhanced customer experience and increased referrals. Consider getting a head start with technology by your side.
Market your electrical services
It’s highly unlikely that you are the only electrical contractor business in your area. To gain a competitive edge, build your client base, and make your business known, you need to invest in electrical business marketing and put yourself on track for growth. To start with, consider:
- Running ads in local directories or newspapers
- Building a website
- Developing relationships with building contractors, architects, and electrical retailers and then asking for opportunities.
Getting ready for the launch
You have the skills and experience, now itâ€™s time to take the next step and turn your electrical contractor business into a reality. We hope this guide has been helpful in getting you started. One important thing to keep in mind is that having the right electrical contractor software can give you a competitive edge. Zuper offers a free trial so you can see how it can help streamline your business operations. Good luck on your journey!