Plumber Toronto 2018: How to Start a Plumbing Business
In the next five years, Canada would be needing plumbing services and the demand for plumbers will significantly increase according to the Department of Employment and Social Development. Because of thousands of residential and commercial projects being done in Toronto alone, there will be a significant increase in the demand of plumbers or plumbing services. But what are your chances of owning a plumbing company? As you search the web, you’ll find many results of plumbing services including single practitioners, unqualified plumbers, cooperatives, and franchises. You have to consider several factors before starting a plumbing service.
If you have finally decided to put up a plumbing service, you have to prepare enough capital to start your own plumbing service agency or company, and you may need the support of your family or a trusted and reliable funding source. You have to be ready to dedicate your full time managing your plumbing business because you also need to work not just on the plumbing services but also on the business side of things. Do you have a solid financial plan to cover the expenses of your family while you are engaging in a business? You need to be ready with enough money to cover the necessities of your family for the next six months up to a year. You need some expertise in finance, accounting, administration, advertising, scheduling, and human resources, or at least you need to hire professionals to do the job for you.
You are required to apply for permits and licenses to get certified or qualified as a trusted, reputable, and reliable plumbing service agency or company. It is compulsory for aspiring plumbers to undergo a licensure examination to become a qualified plumber, completing at least secondary school, four to five years apprenticeship, and coursework prior to the actual examination. You have to obtain the Red Seal endorsement or the inter-provincial certification to be a qualified and experienced plumber. It is also important to arrange the other requirements for a plumbing service company as early as possible including construction bonding, municipal licenses, tax collection, and liability insurance. A part of your investment is dedicated to purchasing computers, telephones, GPS systems, office furniture, internet service, and accounting software. You might also need a service van, truck, or trailer, as well as additional tools and equipment. While you may need to spend more on franchising fees, a plumbing service business franchise can be considered as you will carry the good name and reputation of an established plumbing company.
Start investing in a website, business logo, and passing your business cards with you local affiliated trades such as general construction firms and HVAC service companies. If you need more information about starting a plumbing service company, feel free to check our homepage or website now!