Starting your own business can be an exciting time in your life, as you now have the opportunity to make the big move from being a regular employee to being your own boss. If you are a pool design enthusiast, or if you have a background in design that you wish to pursue, then this business venture is an excellent idea for you. More and more families desire to have their own swimming pools at home, especially those with kids. Here’s how you can get a head-start on this business:
- Have a well-defined business plan
A business plan is always a universal requirement for any business, be it service-oriented or the selling of goods. The case is no different for a swimming pool company. Your business plan should include the following:
- A feasibility study to determine if your swimming pool business can be profitable in your area.
- A financial study, which includes your initial capitalization requirement and a five-year and ten-year projection to determine when you will have a return on investment and profits.
- Analysis of strengths, weaknesses, opportunities, and threats.
- Purchasing plan of supplies, which you can start researching on through Google by typing “pool supplies near me” to get the best results.
- Determine what a swimming pool company does
A swimming pool company does not merely build a swimming pool. Let it be known that your responsibilities go beyond just the act of building, as you also have other tasks to do. When you have established a relationship with the client whom you built a swimming pool for, it is your job to go the extra mile, which includes maintenance. Other tasks that you may have to do include:
- Regularly checking your client’s swimming pool for any physical problems, such as broken tiles or stones that can be hazardous
- Periodically checking the chemical compound of the swimming pool
- Clean-up and draining of the pool
- Testing the other equipment of the pool, such as water plumbing services
You should have a detailed idea about these aspects, as these are also tasks that you have to master if you want to have satisfied clients who will keep coming back to you.
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- Study your target market
Your market study should be different from your business plan. This is because there are also a lot of sub-specialized fields in a market study that you have to fulfill. For example, you have to study your location and the residents, if you can have growth in the market. Determine if your location is full of young professionals who are leaning towards marriage and family life, as this is mostly the group that will demand swimming pools in their homes. In relation to your market study, you have to determine the following as well:
- Average salaries for the working age
- Cost of living and lifestyle of the working class
- Determine your necessary permits and licenses
Do not ever try to go into business without first complying with all the legal requirements. You may get away with it during the first months of operation, but sooner or later, the state will find out, and you might face serious consequences. Plus, your clients will also trust you more if you are complete with papers to prove legality. Customers nowadays tend to check into these details, and complying with legal requirements is always a top consideration for them when choosing among swimming pool contractors.
Examples of permits that you have to comply with are the following:
- Business name registration
- Business permit
- Business tax registration
- License as a swimming pool contractor
- Undergo the necessary skills and training
If you do not have any knowledge about swimming pools at all, or if you have a limited scope of expertise, take the time to study and undergo all necessary training first. Do not try and pretend to be an expert and later on falter when you are faced with a difficult swimming pool construction problem. You have to show your clients that you really are well-versed with what you’re doing, and you are worthy of their trust. Remember, too, that swimming pools do not come cheap, and even if you are a business, you should always make your client feel that every dollar they spend on your services is worth it.
- Advertise your company
As a new company in this industry, it is crucial that you also allocate some time, money, and effort to advertise your business. Advertising is the best way for you to reach your market, and this is one aspect of running a company that you shouldn’t skimp on. Examples of advertising media include:
- Word of mouth
- Flyers, posters, and pamphlets
- Local radio and local TV ads
- Internet, through social media and websites
Conclusion
Now that you have these steps to guide you, you can now have a clearer idea of how to start your swimming pool company. While you may find certain aspects of it confusing, do not let it dissuade you from pursuing this dream business of yours, as no entrepreneur has ever had it easy. Every company has its own risks, but these risks also translate to high returns in the future.
