Starting A Profitable Welding Business
If you’ve studied the fine art of welding and have worked for other businesses for years, you may start to feel that itch to start your own business and start making your own personal profits instead of working for someone else. If you have the required experience and skills, plus some essential business savvy, you just might be able to make a much larger amount of money in the long-term than by working a 9-5 under an employer. It’s important to remember the following tips before you start so you can make sure your business starts off on a strong note.
Assess Your Costs
There are a variety of costs involved in starting any type of business, and welding is no exception. Whether you’re planning to open up a fabrication shop, create a mobile welding business, or specialise in a particular type of welding for a specific industry, you’ll need particular tools and equipment in order to get started. These tools can sometimes be bought second hand without sacrificing quality – so do your research before making any major decisions, then add up the costs to see what start-up capital you’ll need. A mobile welding business is possibly the lowest cost way to get going – you’ll just need a reliable truck with the right add-ons from brisbane ute trays and a basic range of welding tools to get you started.
If you need plenty of tools and materials to get your business going but are working on a tight budget, looking at auctions, both online and in person, can be a great way to find what you need at a lower price. There are auctions out there where you can find both tig and mig machinery, cutting tools, and fume extractors – you just have to look around for the right auction and take your time to seek out the items you need at a lower price point. Don’t forget the essential safety protection gear you’ll need once your business begins attracting clients – that includes your helmets, blankets, goggles, and other items that will keep you safe.
Focus On Local Industry
The easiest way to begin advertising and marketing your new business in your local area is to find prospective clients who you know may have a need for your services. Make sure you get a sleek set of business cards and travel around to businesses in your area who you know require welding as part of their manufacturing process. They may be looking to outsource some of their work to a welder like yourself rather than taking on a full-time employee. You could even consider leaving a small sample of your welding skills to catch their attention along with your business card. Do whatever you can to make a solid first impression.
Consider Your Pricing Strategy
Though you may need to offer lower rates at first to draw attention to your business and pull clients away from the competition, don’t fall into the trap of setting your rates too low and losing your chance to make a profit. Set a minimum rate for any job so that you get paid a reasonable amount even if the job only take 20 minutes, and remember to factor in your material costs as well as the general price for your labour time.