- Fantastic Team
- 5min read
- Published: April 13, 2022
- Views: 6
Is owning a plumbing business worth it?
If you’re considering starting a plumbing business in the UK, it’s a normal question to wonder whether entering this industry is worth it.
While every plumbing business will differ from the next in terms of turnover and revenue, it’s worth pointing out that one plumber in the UK earns £210,000 annually.
Interestingly enough, that is a whopping £60,560 more than the Prime Minister’s £149,440, and seven times the UK’s average salary of £27,271.
This is certainly an indication that starting your own plumbing business in the UK could be a very lucrative and profitable opportunity, indeed.
But there is a caveat and it will depend on your skills, experience, number of clients as well as how much work you’re willing to put in and whether or not you’ll be going solo or working with a franchisor.
- Starting a plumbing business
- Things to consider before buying a franchise
- The final verdict
Starting a plumbing business
Looking at a plumbing business for sale is certainly worth it. The industry was valued at around £16.45 billion in 2022 with a 4.3% annual growth over the past five years. Some of the factors you may need to consider when you opt for starting a plumbing business is to decide whether you’ll go at it solo or whether you’ll be partnering with a franchise operator. In our years of experience on the market, the latter is a much better option for several reasons.
For starters, you’ll never be starting from ground zero. You’ll get full and ongoing training. You will have access to a wide support system and structure. And your clients will already be lining up for your services, as opposed to knocking from door to door as you seek to get established.
Of course, a big question on your mind will be is running a plumbing franchise worth it in terms of both turnover and profitability? Yes, a plumbing franchise will entail an initial purchase price and ongoing royalty payments, but that is not to say that it is not profitable. You can even choose a Standard plumbing franchise in the UK that goes from as little as £2,750, which comes with a range of perks. These include:
- Guaranteed clients
- Sales, customer service and operations support
- Marketing support
- Quality control
- Work schedule management system
- Service quality training
- Option to resell
- Expert training courses, and
- Financial assistance
If you take it one step further, you can opt for the Premium package that goes from £3,110 and which includes everything mentioned above plus a trainers package so that you can train future pros.
While not all plumbing franchise opportunities for sale will offer you all this, some do because they believe in upskilling their franchisees and offering them every opportunity to grow their business.
Things to consider before buyin a franchise
As for the profitability and business longevity of a plumbing franchise, you’ll need to consider some other variables. These include how much you’ll charge on an hourly basis; what your rate will be for every subsequent half hour; whether you’ll be providing your service during business hours or after hours; special rates for emergency services and weekend/bank holiday services, and the number of clients you serve per day.
One way of illustrating this is through an example. Say that a client has contacted you for some plumbing work on a Monday morning and this takes you three hours to resolve. By charging in the region of £98 per hour, your total rate for just one client is £294. Multiply that by three clients in one day and that gives you £882 per day. £882 multiplied by five days in a week and that will provide you with £4,410 a week, £17,640 per month or £211,680 per year. That’s excluding weekend work or bank holidays or even after-hours work, which is typically charged for at a higher rate.
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Now that you have an idea of what you could be making per month, it’s important to also look at some of your expenses. Luckily, with a plumbing business there are very few. Some of the things you’ll need to invest in include:
- A branded vehicle
- Toolbox and equipment
- Training and certificates for you and your team members
- Salaries (if you’re working with other individuals and not on your own)
Overall, it can easily be said that a plumbing franchise is one of the most profitable franchises on the market, and is ideal if you’re someone who doesn’t mind physical work, getting their hands dirty, interacting with different clients with all sorts of plumbing problems, and you like to get the support you need from your franchising partner.
The final verdict
Even though there may be several plumbing franchise opportunities on the market today, you need to partner up with the right partner to help you skyrocket your business so that your earning potential is maximised. A plumbing franchise with a Fantastic Services franchise should be your port of call when you make this decision because working with the best in the industry.
Being a widely recognised brand that knows how to take care of its franchisees’ needs and receiving numerous awards and accolades for franchising in the UK is just a small testament of the value you’ll get when working with such an esteemed franchising partner. If you’re ready to get started, we’re just a click away. Don’t hesitate and reach out today!
- Last update: April 15, 2022
Posted in Advice Hub
Fantastic Services manages 100+ professional home cleaning and maintenance services provided within the UK, EU, Australia, Africa, and North America. With 13+ years of experience behind our back and 530+ successful franchises, we continuously set the bar higher with our cutting-edge technology implementation and marketing approach. Explore our business opportunities on the main website!