Post on 03-Dec-2014
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Plumbing & Business Part 2
Linda Herbison
The Plan For Our 5 EveningsDate Topics Product
Tuesday, 11/6 Legal Forms of BusinessMethods of Going Into Business
First section of business plan
Wednesday, 11/7 Types of Plumbing BusinessesAnalyzing the CompetitionMarketing, Part 1
Second section of business plan
Tuesday, 11/13 Estimating IncomeStartup & Operating BudgetsDepreciation & Taxes
Spreadsheets
Wednesday, 11/14 Sources of FundsLoansCash Budget
Spreadsheets, Tax Form
Tuesday, 11/20 Marketing, Part 2Accounting Statements
Final Business Plan
Tonight’s Objectives Understand the advantages and disadvantages of
types of plumbing businesses:– Service– New Construction– Remodeling
Understand how to analyze the competition– Using census data– Planning a competitive advantage
Marketing, Part I– Goals– Social Media
Types of Plumbing Businesses
Service New Construction Remodeling
Advantages of a Service Business
Disadvantages of a Service Business
Advantages of New Construction
Disadvantages of New Construction
Advantages of Remodeling?
Disadvantages of a Remodeling Business
Competition the effort of 2
or more businesses to win over the same group of people as customers
Understanding the Competition
Who are your competitors? How many miles away do you look? Are there also indirect competitors? Are some locations more in need of a
new plumbing business than others? Where do you find information?
– Yellow Pages– Census.gov
Analyzing Competition
What are the strengths and weaknesses of each business?– Price?– Availability?– Reputation?– Location?
Study Your Competitors
Using this data, plan your strategy. Try to compete against their weaknesses, not their strengths.
Competitive Advantage What are possible competitive
advantages for a plumbing business?
Marketing, Part 1 – Social Media
LinkedIn Facebook Web site Web presence – What do people see
when they Google you?
Why LinkedIn?
Networking Advertising Other ideas? LinkedIn Example
Why Facebook?
Networking Advertising Other ideas? http://www.facebook.com/young.landscapes Be very careful – don’t mix business with
– Politics– Inappropriate activities– Anything that might turn off a potential customer
Why a Web Page?
Advertising Soliciting feedback, potential customers Other ideas? http://www.keiththeplumber.com/ http://www.rabyplumbing.net/ www.dennismwhiteplumbingandheating.com (Tools – Web Developer – Page Source)
Creating a web presence:
Angie's List BuildZoom
– Justin– Jake– Get some good reviews!!!
Licensed Plumber List Customer's Web Site Positive Non-plumbing Sites
Business Plan Assignment Would you like to own a service, new construction, or
remodeling business? Why? Who is your competition?
– Go to census.gov and find the number and size of similar businesses in the area you plan to open your business.
– Go to the yellow pages and find similar businesses in your area
– Describe your competitors’ strengths, and your planned competitive advantage
Google yourself. Fix any problems you find. Google your competitors. Copy things they did well. Consider creating a LinkedIn if you don’t have one.