How to Write a Plumbing Company Business Plan
The plumbing industry has been moderately growing, specifically their revenues, over the last several years, which has, in turn, developed into a healthy appetite for plumbing company business plans, plumbing company business plan templates, and plumbing company pro forma financial projections.
There are numerous reasons for the elevated demand for plumbers as well as plumbing company business plans. For example, the housing industry has been booming lately. As more people sell their homes, they wish to obtain top dollar for the transaction. In order to do so, home repairs, oftentimes, kitchen and bath renovations, are needed. When this happens, inevitably, the need for a plumber arises. As more people are doing home renovations that need plumbers or new construction, which again needs plumbers, the need for plumbing company business plans as well as plumbing company pro forma financial projections is inevitable. This inevitability has led our plumbing company business plan writer to come up with some tips and tricks to use when writing a plumbing company business plan, plumbing company business plan template, or financial projections for the documents.
Executive Summary for a Plumbing Company Business Plan or Template.
The executive summary section for a plumbing company business plan should start like a typical business plan which means the writer should discuss and document the organization’s name, location, and plumbing services provided by the organization. Also, our plumbing company business plan writer recommends that business owners in this segment briefly touch on the geographic location serviced by the company. The geographic location can include a mileage radius from the organization’s home office. Or, cities serviced by the company they are utilized as well. No matter the strategy, make sure to succinctly and briefly address the service location in the summary.
The company information section for a plumbing company business plan should also touch on typical characteristics of the organization, such as the number of employees, hours of operation, and pricing strategies for the plumbing company. Further, our business plan writer recommends discussing niche services that may be provided by the plumbing company. Common niche services may include focusing on commercial construction, specializing in residential repairs, or embracing a generalist strategy, which means taking pretty much any job that comes your way. Regardless of the strategy, provide detailed descriptions of the services or niches and explain why your organization’s structure is aligned with exploiting these opportunities.
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Popular Services offered by a Plumbing Company.
Plumbers provide common services regardless of specialty. For example, in a plumbing company business plan, the general services provided may include unclogging pipes, installing bathroom fixtures, and repairing leaky pipes/faucets. Further, if a plumbing company will specialize in a specific target market, such as new construction, or commercial installations, then discussions should be had in relation to why the target market was selected and which services provided by the plumbing company are aligned with the target market. By aligning plumbing services with the target market in the services segment, the business owner is able to show specific strategies regarding how services provided are aligned with the target market selected for the plumbing company.
The pro forma financial projections segment for the plumbing company business plan and financial model’s structure should be based on the specialty embraced by the company. For example, if the plumbing company services residential and commercial repairs and installations, the revenue segment should be based on the number of jobs completed on a daily basis. In contrast, plumbing companies that specialize in new construction may customize their financial model to embrace monthly jobs completed. By taking into account specialties provided by a plumbing company in the financial projections, business plan writers are able to better customize projections and reflect actual cash receipts paid and variable costs incurred.
Hopefully, these insightful tips and tricks for writing a business plan were helpful. As always, if you need help with a business plan or financial projections, just send us an email or give us a call.
Author: Paul Borosky, Doctoral Candidate, MBA., Author