If you are a qualified electrician with plenty of work experience under your belt and like the idea of being your own boss, then setting up your own electrical contracting business could be ideal.
There are a number of things to consider when starting your own electrical business from qualifications and legislation, to registration and finance. But once you have set up, chosen and business name and have started trading, how can you make sure that your business endeavour is successful?
Here are some tips to help make your electrical contracting business a success and get past those general contractor problems. These tips are also good for other small to medium-size businesses such as aerial installers, plumbers or joiners to follow.
Build your brand
The way you present your brand is crucial to the success of your business. As a contractor, your clients will be trusting you to enter their home, so they need to know that they are choosing a trustworthy professional. You may be a new business, but that doesn’t mean you should look like an amateur. To look the part, design a company logo and use it consistently on your website, social media, business cards, flyers, adverts, branded transport and uniform with custom patches.
Choose good suppliers
While it may be tempting to choose the supplier who can offer the lowest price parts and equipment, sometimes the cheapest option may not be the best. As a startup business, it is essential that your profit margins are healthy, but you also need to be able to provide your customers with good, long-lasting service. Therefore, pick a supplier like The Electrical Guys who offer high-quality reliable products at competitive prices, so that you can do the best job while maintaining profits.
Protect your business
When building a new business, it can be all too easy to focus on bringing in customers and funds, but don’t forget to safeguard your company. You need to be able to protect yourself and your business should the worst happen, which means you will need to purchase the correct insurances to cover the likes of injuries, lift maintenance, accidents and damage. Without insurance, you could face costly financial and legal situations.
Clients, clients, clients
Without clients, a business simply cannot function. As the owner of an electrical company, your clients are your bread and butter without which you cannot survive. Make sure you invest time in attracting new clients, by building an online presence, cultivating reviews on trades websites and setting aside a budget for marketing. It’s also a good idea to reach out to past clients, which will show your customers that you care and may generate additional work.