Working as an electrical contractor could be your ideal career, and if you’ve dreamed of becoming your own boss, it makes sense to start a business around this specialism.
That’s all well and good, but how do you actually go about it? Let’s consider the steps required on the road to running an electrical contracting business.
Put together a business plan
A business plan is a framework on which you can formulate the rest of your decisions, so it needs to come first.
Every good plan must include an overview of what the business will do, what you hope to achieve, how the market stands at the moment, which competitors you will be facing off against, and where your financing will come from.
Bear in mind that a business plan doesn’t have to be set in stone, and should change and evolve along with your business.
Procure tools & technologies
You can’t hope to fulfill the needs of clients if you don’t have the right gear to operate your electrical contracting business.
Indeed the procurement of tools will be a major cost to consider when getting started in this sphere. In addition you’ll have to think about the tech that will allow you to connect with prospective clients.
This includes specific solutions like electrical contractor bidding software, as well as more general gadgets and services like a smartphone and a business phone plan.
Another must-have for any electrical contractor is insurance, as you want to protect both yourself and others from the dangers and dilemmas which can occur in the line of duty.
In essence, you want to avoid being held financially liable for any mishaps, and to have the option of making a claim if something does go wrong. Public liability and professional indemnity insurance are useful in this context.
You should also think about insuring the tools and equipment you use, especially if they are mission-critical. That way if damage is done or faults arise, you can get back up and running without being burdened by yet more costs and complications.
Create a brand
Even the smallest electrical contracting start-ups will find it easier to gain traction if they have their branding down pat from day one.
Creating a brand doesn’t have to be a complex process; even if the business is just you and your tools, your name can be your brand.
Whatever the case, having a logo, a business website, a presence on social media and a consistent, professional tone across all platforms will do wonders in terms of bolstering your brand reputation.
Leverage marketing to your advantage
Branding is part and parcel of marketing, but it is a more passive aspect of the process. To grow your electrical contracting business quickly, you need to be proactive.
Paying for ads in the local press is still a well worn way to find clients and start to establish relationships that will lead to more lucrative work further down the line.
You can also take advantage of search ads and paid promotions on social media, as these can be cost-effective if they are managed correctly. Outsourcing marketing to a separate agency may be worthwhile, as it saves you doing the hard work yourself, and should deliver better results.
Nurture client relationships
Lastly, once you have begun to find clients and complete electrical contracting projects, you need to keep these relationships ticking over, as loyalty is a major commodity in this and many other business arenas.
Satisfied customers will not just come back to you in the future, but will also give word of mouth recommendations, fuelling the expansion of your fledgling firm.