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Plumbing is a Lucrative Business to Start: Here’s Why

Plumbing is a recession-proof trade (see Reddit). If people aren’t building new houses, they’re fixing up their old ones. And if they’re not fixing up their houses, they’re trying to sell them, and a good way to do that is to add a bathroom or finish the basement. In addition, there’s always demand for plumbing services such as cleaning out drains; it’s not something most homeowners want to do themselves.

The average annual income for plumbers is $51,450. According to the Bureau of Labor Statistics, the plumbing field grew by 25 percent between 2010 and 2020, which is faster than average. A person with the right mix of training and experience can charge top dollar for their services. So, the growing plumbing franchise industry can offer you value for your investment.

Here’s the Real Deal in Starting a Plumbing Business

Plumbing offers flexibility. A plumber can work full-time or part-time, alone or in a company. A plumber can apprentice under another professional and then set off on their own or choose to attend plumbing school. 

A wide range of services-Plumbers can offer several types of service. For example, you can install pipes and fixtures, repair leaks, replace old pipes, and specialize in one area if they wish to move on from residential plumbing jobs. 

Versatile trade: One of the great things about starting a plumbing business is that it is a very versatile trade. You can do everything from new construction jobs to replacing fixtures in existing homes and businesses.

You will also be able to offer a wide variety of services, including general and emergency plumbing work.

Tips to Help You You Get Started

If you want to start a plumbing business, here are some tips that can help you get started:

Get educated

 Plumbers need to be skilled in math and science, including physics and chemistry. They may also need to understand geometry for fitting pipes. You will learn how to use tools of the trade, such as pipe wrenches, pipe cutters, and pipe threading machines. You will also learn about different types of pipes and fittings.

Research your competition

What is their pricing structure? How do they advertise? What types of customers do they work with? How much experience do they have? Are they well-established in the community?

Once you have a clear picture of the competition, you can begin to understand how your business will fit into the market. You can also begin to develop your competitive advantage.

Take the time to write a business plan

 It will be invaluable as you move forward with your new business. Your business plan should outline your initial costs and your projected income for at least one year. It should also include an overview of the services that you offer, and what sets you apart from other plumbers.

After drafting your business plan, it may be wise to seek out someone else who has started a plumbing business in order to talk about different strategies for success. A mentor can help answer any questions or concerns you may have about starting a plumbing business.

Expand your knowledge

If you don’t already know how to fix pipes, toilets, showers, and other materials around the house, now is the time to learn. The more experience that you have working as a plumber, the better chance you have of

Start an apprenticeship program

 This is a good way to gain practical experience while earning some money at the same time. You can find an apprenticeship by contacting unions or contractors’ associations in your area. You will learn plumbing basics and repair skills through on-the-job training, classroom instruction, and hands-on work.

Get a license

Apprenticeships typically last between four and five years, after which you must pass a test in order to obtain your license. A plumbing license is required in most states and areas within the US. The requirements for getting licensed vary from state to state, so check with your local licensing board for details on what you will have to do after completing your apprenticeship program.

Acquire tools and equipment

A plumber must have all of the necessary tools and equipment to complete jobs successfully. This includes items such as plungers, drain snakes, pipe wrenches, pipe vises, and more. If possible, consider buying your tools from the local hardware store where the owner can offer you a discount for purchasing in bulk or through wholesale purchase arrangements.

Have some money saved up

Once you have the skills, you need to start saving money so that you will be able to afford to start your own business. The costs of starting up a business can vary widely, depending on what type of business you want to create and how much equipment will be needed for starters, but most people need about $5000 or more in order to get started with their own plumbing business.

Set up a shop

Plumbing jobs are mainly done at customers’ homes, so it’s important that you have an office and vehicles from which to run your business. Having a shop where you can work on pipes, fix broken toilets, and install new baths and sinks will give your company an advantage over other plumbing businesses that don’t have their own shops.

Key Points

Plumbers run into unexpected problems, so they need to think on their feet and solve problems as they arise.

Plumbing is a physically demanding job, says Quora. Plumbers need to be able to work in tight spaces, and should have good hand-eye coordination and manual dexterity. Also, they must have the ability to communicate with customers and coworkers and provide excellent customer service.

A plumbing license is required in most states and can be obtained by passing a written test. Most states also require plumbers to pass a background check that focuses on their work history, driving record, and criminal history.

Plumbing schools take from six months to two years to complete, and at the end of the program, students are awarded either a diploma or an associate’s degree.

Finally, to improve the success of your plumbing business, it’s critical that you invest in things like insurance, licensing fees, equipment, and even employees in order to make your business successful.

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