How to Start a Water Pump Repair Business
Are you an aspiring entrepreneur and interested in the repair business? Does the idea of a water pump repair business appeal to you? Do you have basic knowledge in the repair business or very much willing to learn?
Then why not take a look at this simple water pump repair biz guide to help you take the initial steps towards success.
The repair business is one of the most profitable service provision ventures today. Due to recent slumps in the economy, people value more their hard-earned money. As such, increasing the family’s savings is a top priority among most households. With this, consumers tend to lean on repairing broken household or industrial items rather than buying new ones. This paves the way to great opportunities for entrepreneurs desiring the repair business. Accordingly, water pumps are one of the most used equipment, which leads to their eventual wear and tear.
To start with this business venture, one must acquaint himself with the basic knowledge in repairing water pumps, including troubleshooting equipment and tools. The next thing to do is to draft a water pump repair business plan. A good plan is vital in the success of every business as this gives the entrepreneur an overall view of the intended trade.
There are many important factors that should be included in the business plan. The first aspect to consider is the startup cost for the water pump repair store. This includes the tools and equipment used for repair, the location of your central office, the wage of repairmen and staffs that you will hire and the cost of advertising your water pump repair biz. A significant amount of capital is necessary, but if starting small or home-based, it is advisable to invest on basic tools such as water pump pulley, pliers, liquid transfer pump and installer socket. These items cost only less than $ 100.
Where to Start a Water Pump Repair Shop
Most people tend to hire the services of water pump repairmen who are closer to their homes or offices as this saves them more money in terms of other costs related to this type of service. With this, it is recommended that you situate your office near potential water pump repair biz clients. Study also the area where you intend to set up your business for possible water pump repair competitors already situated in the said area.
Marketing Your Water Pump Repair Business
To advertise your repair business, the easiest approach is to print out fliers and business cards to be distributed in markets, malls and other places where people usually converge. You could also set up a website to advertise your business. More importantly, ensure the quality of the service provided to your clients. This is the best advertisement to your business, guaranteed to reap great success and profits.
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1- Buying bearings, oil seals, o-rings, gaskets from the bearings distributors ( much cheaper than the pump manufacturers).
2- Having a machine shop machining duplicate parts for any machinable part such as shafts, Rings, Wear rings, etc.
3- Sourcing out some parts such as impellers, casings, bearing housing ( there a lot of after market parts suppliers with very high quality parts).
4- Replace the complete pump when you must have expensive parts from the OEM ( Just about any pump from the major pump companies can be replaced).
The above information is based on personal experience. I started a pump repair and a distribution business 15 years ago and it has been very profitable since opening.
If you need help and assistant, you can email me at email@example.com
firstname.lastname@example.org || Pump Business Adviser