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Plumbing & Business Part 2


Linda Herbison
The Plan For Our 5 Evenings
Date              Topics                           Product

Tuesday, 11/6     Legal Forms of Business          First section of
                  Methods of Going Into Business   business plan

Wednesday, 11/7   Types of Plumbing Businesses     Second section of
                  Analyzing the Competition        business plan
                  Marketing, Part 1
Tuesday, 11/13    Estimating Income                Spreadsheets
                  Startup & Operating Budgets
                  Depreciation & Taxes
Wednesday, 11/14 Sources of Funds                  Spreadsheets, Tax
                 Loans                             Form
                 Cash Budget

Tuesday, 11/20    Marketing, Part 2                Final Business
                  Accounting Statements            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
Google Yourself

   https://www.google.com/
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.

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Plumbing night 2 types of plumbing businesses

  • 1. Plumbing & Business Part 2 Linda Herbison
  • 2. The Plan For Our 5 Evenings Date Topics Product Tuesday, 11/6 Legal Forms of Business First section of Methods of Going Into Business business plan Wednesday, 11/7 Types of Plumbing Businesses Second section of Analyzing the Competition business plan Marketing, Part 1 Tuesday, 11/13 Estimating Income Spreadsheets Startup & Operating Budgets Depreciation & Taxes Wednesday, 11/14 Sources of Funds Spreadsheets, Tax Loans Form Cash Budget Tuesday, 11/20 Marketing, Part 2 Final Business Accounting Statements Plan
  • 3. 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
  • 4. Types of Plumbing Businesses  Service  New Construction  Remodeling
  • 5. Advantages of a Service Business
  • 6. Disadvantages of a Service Business
  • 7. Advantages of New Construction
  • 8. Disadvantages of New Construction
  • 10. Disadvantages of a Remodeling Business
  • 11. Competition  the effort of 2 or more businesses to win over the same group of people as customers
  • 12. 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
  • 13. Analyzing Competition  What are the strengths and weaknesses of each business? – Price? – Availability? – Reputation? – Location?
  • 14. 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?
  • 15. Marketing, Part 1 – Social Media  LinkedIn  Facebook  Web site  Web presence – What do people see when they Google you?
  • 16. Why LinkedIn?  Networking  Advertising  Other ideas?  LinkedIn Example
  • 17. 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
  • 18. 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)
  • 19. 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
  • 20. Google Yourself  https://www.google.com/
  • 21. 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.