Becoming a plumbing business owner has many benefits, some of which you have likely already considered. At Accurate Leak and Line, we talk to plumbers who are looking for something more in their careers or who want to do something different in the industry.
We recognize the desire for more control over your financial future and more independence in your work schedule. For current plumbing business owners, we also recognize the desire to grow your business.
Here are some ways to think about profitability in plumbing.
Plumbing Business Profitability Factors
The most significant profitability factor is the number of people you have working for you.
If you’re an owner-operator, your profit level will be different than that of a company with six plumbers on staff. Employees are usually the highest cost in any business; however, they are also how you generate revenue.
An Indeed report found that the hourly rate for plumbers ranged from $24.30 per hour for plumbers with less than one year of experience, to $35.26 per hour for those with more than 10 years of experience.
Effective Operational Methods
Effectively managing your expenses directly impacts your plumbing business profit margin. As a business owner, there are several operational expenses to consider:
- Inventory: When you have less cash tied up in supplies, you have more cash in your bank account. Good supplier relationships work in your favor here.
- Preventative maintenance: Inspecting your equipment daily will help prolong the life of your equipment, which minimizes maintenance costs.
- Location: At Accurate Leak and Line, we require franchise owners to live within their territory as it minimizes travel time. That provides a benefit in maximizing employee time, and also reduces fuel costs to get to job sites. These savings, for a five-day-a-week operation, are significant.
- Scheduling: When you have an operations process for scheduling work, you have the best opportunity for your employees to generate revenue for the business.
Customer Attraction Strategies
Solid marketing strategies contribute to how much plumbing business owners make because it’s what grows the customer base. When your marketing attracts a customer, and that customer is satisfied with your work, they become a referral source; you get future business from the same marketing that attracted the initial customer.
Specialized Services
Accurate Leak and Line provides underground plumbing diagnoses and repair services, which are unique in the marketplace. Unique services are strong revenue generators because they usually come with a rate that reflects the training required to achieve the skillset. These niche market opportunities are significant when it comes to how much plumbing business owners make because you can charge more for the service than a non-specialized trade.
Niche Market Opportunities
How much do plumbing business owners make in a niche market plumbing sector like Accurate Leak and Line?
While we are an emerging franchise, six territories produced an average of more than $2 million in gross revenue per territory, according to our most recent franchise disclosure document.
Start Your Business with Your Own Franchise
Accurate Leak and Line has been in the plumbing business for more than 20 years, and we’ve been offering a franchise model since 2022. We saw the opportunity to create a business model that represented this niche plumbing sector while providing another option for master plumbers to become business owners or grow their business. Our franchises are available for both new business owners and for those currently in the industry who wish to convert to an Accurate Leak and Line franchise.
The services we provide include:
- Trenchless plumbing repairs
- Sewer and water leak detection and repair
- Conventional pipe repair
- Foundation and slab leaks
- Diagnostics
Our customer base includes residential and commercial property owners, municipalities, institutions, and inspection services for real estate. We are a niche market service with multiple revenue streams.
Pursue Business Ownership with Us!
Reach out to us for more on the Accurate Leak and Line franchise. We look forward to onboarding you into an incredible niche market sector of the industry.
