ProfitableVenture.com

Helping You Start a Business With Less Risk!

A Sample Plumbing Service Business Plan Template

Are you about starting a plumbing business? If YES, here’s a complete sample plumbing service business plan template & feasibility report you can use for FREE to raise money.

Okay, so we have considered all the requirements for starting a plumbing business. We also took it further by analyzing and drafting a sample plumbing service marketing plan template backed up by actionable guerrilla marketing ideas for plumbing businesses. So let’s proceed to the business planning section.

Why Start a Plumbing Business?

One of the businesses that someone with little schooling can successfully launch and make profits is a plumbing business. Basically all that is required for you to start this type of business is your technical / trade skills in the area of plumbing or generally as a handyman, your tool box and the ability to market your services.

One thing is common amongst people that are in the plumbing line of business, they tend to work as handymen in order to maximize profit in the industry since plumbing is a subset of the handyman industry. A handyman is one that provides a wide range of services needed for the maintenance of buildings and properties.

The services provided by a handyman include plumbing, electrical works, carpentry, painting, heating and cooling services and other building and property maintenance and repair works.

Although fewer plumbers are always available in a given community per time, but the handyman business is becoming more popular in recent times and this is because of the fact that people are becoming creative with ways of making money and developing new business ideas so as to be able to make a living.

This plumbing business or a handyman business has also been made popular because people are becoming busier by the day with A handyman business is one that can be set up by almost anyone. It is not only men that can be found in this industry, there are also a lot of women that are involved in the business and they are doing very well.

Whether you are well versed in facility/ property management or you have no such experience, it is a business that can be conveniently done.

What Does It Take to Start a Plumbing Business Successfully?

If you looking beyond just offering plumbing services to offering other related services in the handyman industry, then you need to be familiar with different kinds of trades as this is an important factor that can enable you to get jobs.

To succeed in the business, you should try as much as possible not to reject jobs from clients as some jobs might be seen as too small for you to accept. Doing the small jobs is what often opens the way for you as a plumber or handyman with your clients. When they have bigger jobs, they will remember you and call you to handle their bigger projects for them.

If you are just starting out in the business, you can start by handling simple and basic jobs and from there you can grow the business as you go on. This is because while some plumbing or handymen businesses just have the technical know how to fix simple and basic jobs, a handyman business can be grown to the extent that it will be able to deal with more complex jobs. This is a factor that can enable your business to grow and expand as the client can trust you to handle just about any job in their homes and on their properties.

A Sample Plumbing Services Business Plan Template

  • Business Overview

First and foremost, it is important to establish that the plumbing services business is a subset of the handyman repair services industry.

The plumbing cum handyman industry provides general maintenance and repair services to residential and commercial customers, including plumbing and electrical repairs, appliance installation and repair, painting and carpentry.

Players in this industry install and maintain plumbing fixtures, fittings and equipment and the industry activities include work on household pipes and drains; installation of gas cooking and heating appliances; and work on bathroom and toilet fixtures and venting systems.

Emergency repair work (e.g. unclogging drains or repairing burst water mains) represents a significant source of industry revenue. They may also supply plumbing appliances and coupling products for construction projects as a means of increasing income for the business.

The industry grew as a result of the shift in focus from do-it-yourself (DIY) to do-it-for-me (DIFM) as the eighties drew to a close. This was because time became more precious for the coming generation than money. By the mid-nineties handyman businesses began to appear all over the place to cater to people who did not have time to spare to fix little problems in their homes.

In 2003, the plumbing cum handyman industry was one of the fastest growing ones in the United States and the industry keeps expanding further. This sector is a resource for the growing number of aging homeowners and is also a source of business opportunity for entrepreneurs.

The Plumbing cum Handyman services industry will continue to grow going forward due to the support it will get from the accelerating house market. Besides, housing prices are also on the rise and the increase in the existing home sales will help to drive the demand for remodeling projects and repair works in homes and on properties.

There is a growing need for home repair work and improvement that is reliable because of the emergence of vacation homes, second homes, commercial properties and rental units.

Also, the increase in the number of older people who wish to keep on living in their homes is a factor for the growth in the industry and younger families with children of school-age who chooses to renovate and remodel their homes, instead of moving out to look for new homes in the real estate market with its high price.

Statistics has it that the Plumbing cum Handyman Services industry in the United States of America, is worth $106 billion, with an estimated growth rate of 4.2 percent. There are about 115,908 registered and licensed plumbing and handyman services businesses in the United States and they are responsible for employing about 9,180 people. It is important to state that there is no company with a dominant market share in this industry.

The plumbing and handyman services industry will keep on thriving in the coming decade especially if an entrepreneur in this line of business is committed to providing reliable and quality work for customers in the home repair and property services they render.

The market is highly unsaturated and there is room for growth as the industry is expanding and maturing. The good news for would be entrepreneurs in this line of business is that there is an estimate of continued annual growth for the handyman industry for as high as 20 percent.

Over and above, the plumbing cum handyman services industry is very open to any aspiring entrepreneur who has acquired the required trainings, skills and perhaps professional certifications to start his or her own business and of course make good money from the industry.

Plumbing Service Business Plan – Executive Summary

Lumber Jack® Plumbing Services is a licensed and standard plumbing services company that also handles other related handyman services. We have been able to secure a standard and well – positioned office facility in a growing community in Dallas – Texas. We are a plumbing cum handyman Services Company that is set to compete in the highly competitive handyman services industry not only in Texas, but also throughout the United States market.

Aside from this service; installing and maintaining plumbing fixtures, fittings and equipment and working on household pipes and drains; installation of gas cooking and heating appliances; and working on bathroom and toilet fixtures and venting systems and emergency repair work (e.g. unclogging drains or repairing burst water mains)  services which happens to be our core services.

Lumber Jack® Plumbing Services will also provide general maintenance and repair services to residential and commercial customers, including wiring and electrical repairs, appliance installation and repair, painting and carpentry services et al. Our business goal is to become one of the leading plumbing cum handyman service companies in the United States and we will make sure that we do all we can to compete favorably with leaders in the industry.

Our workers will be selected from a pool of certified and highly experienced technicians and tradesmen with different trade skills as it relates to our service offerings in and around Dallas – Texas and also from any part of the United States of America as the business grows.

We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading plumbing and handymen service providers and installation, maintenance and repair companies in the United States and throughout the globe.

At Lumber Jack® Plumbing Services, our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that all the repair jobs we carry out stand the test of time, we will hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for all our partners, employees and for our clients.

Lumber Jack® Plumbing Services is founded by Mr. Charles Coleman, a plumber per excellence who also has various skills as a certified tradesman cum handyman. It is a family business, and the business will be managed and financed by the family. Mr. Coleman has well over 15 years of experience working as a plumber cum handyman for the public works department of the United States of America.

  • Our Product and Services

Lumber Jack® Plumbing Services is established with the aim of maximizing profits in the plumbing cum handyman services industry. We want to compete favorably with the leading plumbing cum handyman service companies and installation, maintenance and repair companies in the United States which is why we have but in place a competent quality assurance team that will ensure that every plumbing repairs, installations and services carried out or related services rendered meet and even surpass our customers’ expectations.

We will work hard to ensure that Lumber Jack® Plumbing Services is not just accepted in the community we operate in Dallas, but also throughout Texas and in other cities in the United States of America.

Our service offerings are listed below;

  • Plumbing repair and installations services (Our core service)
  • Mechanical services
  • Building sprinkler system installation
  • Steam fitting and piping services
  • Lawn sprinkler installation
  • Drain construction, cleaning or repairing
  • Gas plumbing
  • Gas appliance repair
  • Hot water systems installation
  • Repairing installed plumbing
  • Septic tank installation
  • Solar hot water systems installation
  • Steamfitting and piping contracting services
  • Interior and exterior sprinkler system installation

Our Vision Statement

Our vision goes beyond establishing a plumbing services company to establishing a standard and all – round handyman services company whose services and brand will not only be accepted in Dallas – Texas but also in other cities in the United States of America.

  • Our Mission Statement

Our mission is to provide professional plumbing, installation, maintenance and repair services and other related services that will assist businesses, individuals, households and non-profit organizations in ensuring that their facility and equipment are always in good shape. We want to build a plumbing cum handyman Service Company that can favorably compete with other leading brands in the plumbing cum handyman services industry.

  • Our Business Structure

Lumber Jack® Plumbing Services is a business that intend starting small in Dallas – Texas, but hope to grow big in order to compete favorably with leading plumbing cum handyman businesses in the industry in the United States. We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At Lumber Jack® Plumbing Services we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more.

In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Head, Technical Services
  • Human Resources and Admin Manager
  • Sales and Marketing Executive
  • Accountant
  • Plumbers and Handymen (With Various Trade Skills as it relates to our Business)
  • Client Service Executive

Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Head, Technical Services:

  • Serves as project manager of the organization; works directly with employees
  • Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
  • Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
  • Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
  • Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
  • Maintains quality service by establishing and enforcing organization standards.
  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
  • Makes certain that the technical department perform efficiently, coordinate employee efforts, and facilitate communications between management and plumbers / handymen
  • Ensures that the organization work in line with international best practices.

Human Resources and Admin Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office and factory activities.

Sales and Marketing Manager

  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of plumbing repair and installation projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Creates new markets cum businesses for the organization
  • Empowers and motivates the sales team to meet and surpass agreed targets

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Lumber Jack® Plumbing Services
  • Serves as internal auditor for Lumber Jack® Plumbing Services.

Plumbers and Handymen (With Various Trade Skills)

  • Provides general maintenance and repair services to residential and commercial customers, including plumbing and electrical repairs, appliance installation and repair, painting and carpentry services et al.
  • Handles Carpentry services, Appliance installation and repair (TV wall mount installation), Flooring installation and repair, Roofing repairs, Gutter cleaning, Kitchen makeover, Bathroom remodel and Shower remodel, Attic insulation, Deck repair, Door installations, Fence repairs, Interior and exterior painting services, Yard and power tool repair and maintenance

Client Service Executive

  • Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the creative director in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ services, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

Plumbing Service Business Plan – SWOT Analysis

Lumber Jack® Plumbing Services engaged the services of a core professional in the area of business structuring to assist our organization in building a well – structured plumbing cum handyman business that can favorably compete in the highly competitive plumbing cum handyman services industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a comprehensive SWOT analysis for Lumber Jack® Plumbing Services. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Lumber Jack® Plumbing Services;

  • Strength:

Our core strength lies in the power of our team; our workforce. We have a team of certified and highly trained and experienced technicians, plumbers, and carpenters et al, a team with excellent qualifications and experience in various niche areas in the plumbing and handyman services industry. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

  • Weakness:

As a new plumbing cum handyman Services Company in Dallas – Texas, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive plumbing cum handyman services industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to pump into promoting our business the way we would want to.

  • Opportunities:

No doubt, the opportunities in the plumbing and handyman services industry is massive considering the number of households and corporate organizations who would always need their faulty plumbing jobs to be fixed or other things to fix in their facilities. As a plumbing cum handyman Services Company, we are ready to take advantage of any opportunity that is available in the industry.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. As a matter of fact, some people tend to fix their faulty plumbing jobs themselves as against hiring plumbers and handymen.

Another threat that may likely confront us is the arrival of a new plumbing and handyman services company in same location where our target market exist and who may want to adopt same business model like us.

Plumbing Service Business Plan – MARKET ANALYSIS

  • Market Trends

Although it is somewhat difficult to get plumbers to help you fix your faulty plumbing jobs; it is obvious that the number of plumbers in a given community seems to be less than the required numbers of plumbers needed to effectively service the community.

The plumbing cum handyman industry is one that was affected adversely by the fall of the housing market. This resulted to a low demand for the services in this industry. When the demand for minor household repairs and maintenance rose, the revenue decline was moderated. The industry has now benefited from the acceleration house market and the increase in household income.

These days, it is trendy to find plumbers offering far more than plumbing services; they would prefer to start a handyman services business. A business that will offer a wide range of relevant services. It gives them the opportunity to maximize profits in the industry and create multiple streams of income as against relying on only plumbing services.

On the average, starting and running a plumbing / handyman business can be cost effective. This is especially so when you have highly trained, well qualified and experienced staff as members of your team. With the quality of work carried out by them for your customers, you will be able to retain your customers and the good work your company does will be well spread by word of mouth as customers will tend to recommend your services to their families and friends once you are able to do a good job in their homes and on their properties.

A company’s ability in providing its customers with quality service at affordable prices will also be a factor that will count in the industry. This way the company will be able to retain existing clients and get more business from new customers. The competition in the plumbing and handyman industry shows that there is a viable market for the services of plumbers cum handymen.

As long as you are prepared to deliver quality plumbing and handyman services, you will have your own share of the market as some plumbers and handymen business that exist take their customers for granted and offer them mediocre services. This gives you room as a new entrant into the business to come in and dominate if you are prepared to give quality service to your client.

  • Our Target Market

Before starting our plumbing cum handyman business in Dallas – Texas, we conducted a market survey and feasibility studies and we are certain that there is a wide range of both corporate and individual clients who would need the services of plumbers and handymen on a regular basis.

In view of that, we have created strategies that will enable us reach out to various corporate organizations and households who we know can’t afford to do without our services. Below is a list of the people and organizations that we have specifically market our services to;

  • Individuals and households
  • Banks, Insurance Companies and other related Financial Institutions
  • Blue Chips Companies
  • Corporate Organizations
  • Real Estate Owners, Developers, and Contractors
  • The Government (Public works department)
  • Schools (High Schools, Colleges and Universities)
  • Hotels
  • Sport Facilities
  • Religious Organizations

Our Competitive Advantage

Surviving in the business world as a plumber or handyman requires more than, your expertise, knowing how to deliver standard plumbing cum repairs and maintenance jobs but also how to network with key people that matters; decision makers that can decide who will get an plumbing installation, repair and maintenance contract.

There are favorable conditions for growth in the plumbing and handyman services industry and as a result of this, survival in the industry will require that you build on existing knowledge of the services you offer to your customers and broaden your skill base in order to be able to compete favorably.

More plumbing and handymen businesses are coming up and they are using the services of existing franchise in the business to boost their competitive edge and exposure in the industry.

We are quite aware that to be highly competitive in the plumbing and handyman services industry means that you are not only expected to be able to deliver consistent and highly reliable plumbing installation, repair and maintenance jobs, but you must be able to meet set targets. No one would want to continue to hire your services if don’t always meet up with the target date of completion of projects.

Our competitive advantage lies in the power of our team; our workforce. We have a team of certified and highly trained and experienced technicians, plumbers, and carpenters et al, a team with excellent qualifications and experience in various niche areas in the handyman services cum installation, maintenance and repair service industry. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups plumbing and handyman services businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

Plumbing Service Business Plan – SALES AND MARKETING STRATEGY

We are mindful of the fact that there are stiffer competition in the plumbing and handyman services industry; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the plumbing and handyman services industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Lumber Jack® Plumbing Services

Our corporate goal is to grow Lumber Jack® Plumbing Services to become one of the top 10 plumbing and handyman services brands in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Dallas – Texas but also in other cities in the United States of America.

Lumber Jack® Plumbing Services is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to individuals, households, construction companies, facility managers, corporate organizations, religious organizations and key stake holders.
  • Promptness in bidding for plumbing installation, repair, and maintenance contract from the government and other cooperate organizations
  • Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local expos, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets and still deliver excellent services
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients

Sources of Income

Lumber Jack® Plumbing Services is established with the aim of maximizing profits in the  plumbing and handyman (repair) services industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Lumber Jack® Plumbing Services will generate income by offering the following services;

  • Plumbing repair and installations services (Our core service)
  • Mechanical services
  • Building sprinkler system installation
  • Steamfitting and piping services
  • Lawn sprinkler installation
  • Drain construction, cleaning or repairing
  • Gas plumbing
  • Gas appliance repair
  • Hot water systems installation
  • Repairing installed plumbing
  • Septic tank installation
  • Solar hot water systems installation
  • Steamfitting and piping contracting services
  • Interior and exterior sprinkler system installation

Sales Forecast

One thing is certain, there would always be corporate organization, government agencies, households and individual who would need the services of plumbers and handymen from time to time.

We are well positioned to take on the available market in the plumbing and handyman services industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our company to enviable heights.

We have been able to critically examine the plumbing and handyman services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in plumbing and handyman services industry.

Below is the sales projection for Lumber Jack® Plumbing Services, it is based on the location of our business and of course the wide range of our services and target market;

  • First Fiscal Year-: $100,000
  • Second Fiscal Year-: $250,000
  • Third Fiscal Year-: $500,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same plumbing installation, maintenance and repair services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

At Lumber Jack® Plumbing Services we will keep the prices of our plumbing and handyman services below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.

We are aware that there are some one – off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.

  • Payment Options

At Lumber Jack® Plumbing Services our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

  • Payment by via bank transfer
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft
  • Payment via mobile money
  • Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

Plumbing Service Business Plan – Publicity and Advertising Strategy

We know the power of publicity hence we have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both corporate clients and households in the whole of Dallas – Texas and beyond which is why we have made provisions for effective publicity and advertisement of our plumbing cum handyman Services Company.

Below are the platforms we intend to leverage on to promote and advertise Lumber Jack® Plumbing Services;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
  • Install our Bill Boards on strategic locations all around Dallas – Texas
  • Engage in road show from time to time in targeted neighborhoods
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations and households by calling them up and informing them of Lumber Jack® Plumbing Services and the services we offer
  • List our company in local directories / yellow pages
  • Advertise our company in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.

Plumbing Service Business Plan – Financial Projections and Costing

When it comes to setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

In essence, it means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

Basically, the tools and equipment that will be used is nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a standard plumbing and handyman company; it might differ in other countries due to the value of their money. However, this is what it would cost us to set Lumber Jack® Plumbing Services in the United of America;

  • Business incorporating fees in the United States of America will cost – $750.
  • The budget for Liability insurance, permits and license will cost – $3,500
  • Acquiring an office space that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $100,000.
  • The amount required to purchase the needed tool box and repair equipment – $10,000
  • Equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
  • Amount required to purchase the needed software applications to run our business – $3,500
  • Launching an official Website will cost – $500
  • Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
  • Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $1,000

Going by the report from the market research and feasibility studies conducted, we will need about two hundred thousand (200,000) U.S. dollars to successfully set – up a standard plumbing and handyman company in the United States of America.

Generating Funding / Startup Capital for Lumber Jack® Plumbing Services

Lumber Jack® Plumbing Services is a business that will be owned and managed by Mr. Charles Coleman and his immediate family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings and sale of his stocks
  • Generate part of the start – up capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $100,000 (Personal savings $70,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

PLUMBING BUSINESS GROWTH: Sustainability and Expansion Strategy

It is a known fact that the future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Lumber Jack® Plumbing Services is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our plumbing installation, maintenance and repair services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Lumber Jack® Plumbing Services will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Securing a standard office facility: Completed
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the business: Completed
  • Purchase of plumbing repair and installation tools and equipment: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the Needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
  • Creating Official Website for the business: In Progress
  • Creating Awareness for the business: In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in various industries: In Progress
ProfitableVenture.com © 2015 - 2016 | All Rights Reserved | See About us | Privacy Policy and Disclaimer.