If I started a plumbing business how much money should I charge? I live in the tri-state area of the east coast. How much would the business cost? How much money would the business bring in if my services are really good?
Tags: area, coast, could, east coast, how much money, money, much, plumbing, plumbing business, Start, tri state area
Plumbers make good money, but you need a license, insurance, equipment, advertising, etc. What you make depends on your skills, people skills, and how well you manage your expenses.
You will get out of the business what you are willing to put into the business. Prepare to earn a lot less as you start the business venture than as the business grows through advertising, word of mouth referrals and whatever else you put into your marketing and business plan. There’s no concrete answer to your question except that you don’t want to be the cheapest or most expensive plumber out there. Make sure you have experience and licensing to back up your claims and make sure to have adequate business insurance to protect yourself and your company from lawsuits which happen quite often. The more business you book the more you earn so you will be started at a negative as you lay out money for startup costs but then slowly start to turn a profit. Get advice from a competant attorney and accountant whose fees will be worth their weight in gold and will be tax deductible. You’ve heard that it takes money to make money and that’s sorta true. Your first point of action should be in writing a business plan to answer your own questions about how much it will cost for startup and where your break even point will be. Customers will not flock to your doors so be prepared to invest for advertising, equipment, tools, supplies, licenses, and whatever else you need. The key is to START not to think about doing what you love and loving what you do. Build your business to pursue your passion not for how much money you’ll make.
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