Investing In Electrical Wares Part (2)

In continuation of yesterday’s report on the lucrativity of electrical ware parts business, here are the remaining requirements needed to excel in the business.

Obtain Proper Licenses, Permits and Insurance

When starting an electrical business, you can’t simply come up with a name and start showing up at people’s houses to perform services. How will you legalise your business? Will you start off as self-employed or set up an LLC? Get advice from an accountant.

Plus, you need to obtain the proper licenses, permits, and insurance to work in your area. Make a trip to your local city hall or town municipal building to see what you’ll need to do to get your business up and running.

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Prioritising Specialisation

Speaking of homes and/or businesses, have you decided whether your electrical business will cater mostly to homeowners or business owners? Some electricians choose to do both. But you may want to pick between providing residential or commercial electrical services based on your level of experience and expertise.

Purchase a Delivery Truck for Large Scale Supply

Some of the biggest expenses you’re going to encounter when starting an electrical business are the truck and tools you’ll need to buy for your business.

At the start, you might not need to rent a physical location for your electrical business. But it’s going to be impossible to complete electrical jobs without a truck and tools.

Purchasing a used truck when you first start and run your business out of it. Look around for used tools that you can upgrade later once your business starts picking up steam.

Marketing

Use experts to set up your site, blog and maybe start a PPC campaign. While you can blog about improving energy efficiency around the home, SEO and marketing are specialised roles that should be outsourced to professionals.

Use agencies or freelancers for marketing, social media, and SEO and start the hiring process with referrals from your friends or family. Then go online and do your own research, e.g. look for feedback and reviews on their business and services.

Also, be open to running ads on a local radio station or putting an ad in the newspaper. But your marketer can also start advertising by kicking off a social media campaign on Facebook, Twitter, or Instagram.

Opportunities

If you’re an experienced electrician and you know there’s a demand for an electrician like you in your area, starting an electrical business on your own is smart.

You can make your own hours, bring in your own money, and run your electrical business the way you think it should be run. You’ll find it very fulfilling, and you will be glad you started a business if you follow all the steps listed here first.