Starting an Electrician Business
The first step in starting your electrician business is to create a business plan. This can be done on your own or with the help of an expert. Electrician businesses focus primarily on servicing electrical systems in homes and businesses. Because it is a trade business, it is highly specialized. (The typical path to an electrical contractor business starts with education. Another path could take you to a two-year technical school.)
Necessary Steps to Start an Electrical Company
- Get the required training and state license.
- Develop a strong branding strategy.
- Create content on your site.
Key Considerations for Electricians
- The first step in starting your electrician business is to create a business plan.
- Electricians generally charge between $75 to $100 per hour plus parts.
- Recent studies show that there are over 44,000 electrician businesses in Australia with a market capitalisation of $27bn.
Profitability and Expansion Strategies
- Profit ranges 1.5-2.0%, depending on company size.
- Larger companies have lower margins.
- Smaller ones have higher margins.
- How to improve profitability: Targeted ads, add revenue streams, manage cash flow.
Marketing for Electricians
- Electricians need a strategy to stand out and connect with customers.
- An electrician completes a 3-4 year apprenticeship and holds a technical qualification.
- How do electricians find clients? Many electrical contractors find clients by word of mouth.
Lead Generation and Marketing
- Electricians need a well-thought-out lead generation strategy to stand out.
- Advertising on Facebook allows showing an ad to people segmented by age, gender, location, interests, and professions.
- Electrician advertising on Facebook and Instagram can be a cost-effective method, provided you put the right strategy in place.