A piping replacement business plan shows what amount of revenue a contractor can earn by redoing residential or commercial plumbing. In some cases, older buildings that have asbestos-based pipes need a complete removal and reinstallation of the piping framework in order to pass inspection or be approved for sale. On the other end of the spectrum, even new construction can be subject to pipe problems – bursting after a hard freeze, for example – that require a complete replacement. Piping is a pricey thing to replace, especially for a homeowner on a budget, so pipe replacement contractors get priced against one another all the time. Need a business plan for this sort of undertaking? Be prepared to show:
• How big your target market is (how many homes?)
• The greater region from which you can draw clients (i.e., 10 mile drive? 20?)
• The cost of an average plumbing replacement, by square foot of house size and/or by typical contract
• The largest competitors and their years in business
• The risks of substitutes and DIY work
The section of the business plan that investigates competitive players needs to provide the reader with information about number of years in operation, size of operation, and estimated market share for each competitor. Answers to these questions can help your plan in many ways, so it is important that your team does as much legwork as possible on the Internet or by talking to past customers. You will also need a marketing section in the plan showing how you will market the piping replacement company and what sort of values your business will communicate in its campaigns. Lastly, the plan needs a financial model with 3 years of projected expenses and revenues. MasterPlans can write the business plan you need to get a piping replacement company funded. Call a consultant today to learn more: (877) 453-2011.
