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5 keys to a successful contractor business plan

contractor business planAs the old saying goes, "failure to plan is planning to fail." If you want to be successful in your business, you need to create and execute a contractor business plan to achieve your goals. You can find an endless number of sample templates and plans on the web, but before you can apply them, it's important to think about your specific needs.

  1. Finding the right tools
If you are well versed and have years of experience doing the work you provide, whether it's plumbing, drywall repair or electrical services, you probably have a good handle on the required tools. Make a list of every tool or piece of hardware you'll need on most common jobs so that you are well-prepared. Also think about items you might need to purchase regularly, like screws and bolts. Buying and maintaining these tools need to be factored into your contractor business plan.
  1. Working with reliable people

Even if you plan on going into business by yourself, from time to time you may get offered jobs that are too large to handle alone. Instead of having to turn this type of work away, consider creating a reliable network of subcontractors that you can depend on when you need help. It’s imperative that you make sure these subcontractors have good reputations, positive reviews, and that you get approval from your Regional Operations Manager if you’re working on a HomeServe USA job.

  1. Acquire the necessary licenses and permits

Before you can even set foot on a job site, many localities require you and your team to have the right permits to work. This should be one of the first things you do after opening your business. Also keep an eye on how often you need to renew all relevant certifications.

  1. Create a sales and marketing plan

Are you looking to create a lifestyle business that supports you and your family? Or do you want to grow into a thriving company with dozens of employees? Only you can answer these questions – but no matter what your goals are, you must have a plan to meet them. Calculate how much business you will need based on overhead, average job value, marketing costs, and other important factors. From there, plan to engage in enough sales and marketing activities to meet this requirement.

  1. Provide top-notch service

Home repair contractors visit the most intimate parts of customer's homes. They are expected to be professional, respectful and courteous. You should promptly answer any questions your customers have, follow up with them after your jobs, and quickly resolve any problems. Offering top-quality customer service on every single job is a quick way to ramp up your referral business.  Finally, consider using a 3rd party to do background checks and drug tests of your employees.  Not only do many homeowners use this as a reason to select your company, but many insurance companies provide lower rates.

A home repair plan company keeps your plan on track

Even the best-laid plans will change over time. If you have high standards for quality and are looking for a steady source of jobs for your contracting business, consider working with a home repair plan company like HomeServe USA. HomeServe USA helps contractors in our network get more jobs in less time, which means they can spend more time planning the future success of their business.

If you’re interested in working with HomeServe USA please call us toll-free at 844-876-4709 to speak with a Recruiting Specialist.  If you’re ready to fill out our short application please click here.

 Learn more about the HomeServe contractor repair network

 

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