Going into the welding industry can be a smart move. This is mainly because it is ideal for scaling up. You can start with a one-man operation and then progress to something bigger. If you manage to overcome the initial hurdle, you have a pretty good chance of getting a constant stream of customers
The common mistake that many welders make is that they stay as a small business when they should expand. It is understandable since growing any business can be a challenge and bring in some risks. Here are some tips on how you can properly expand your welding business:
A big mistake that many businesses make when they are growing is that they don’t have a direction. This is why you need to have a strategy for your expansion. If you started as a one-man operation, you most likely had a specialty or two. For expansion plans, you need to build on those core competencies. For example, if you are good at fabrication and mainly work with stainless steel, then consider learning how to weld other materials and to work on other types of welding. You might even consider hiring an additional person for their skills. This allows you to provide more services to your long-term customers.
Add to Your Tools
One thing to remember when you are planning to expand is to add more tools to your current kit. This will allow you to do more kinds of work. For example, adding heavy-duty pipe working tools can mean that you can start to do some pipe welding. You do have to learn how to use them properly, but more options can more business for you.
Learn to Do Sales and Marketing
For many people, the limit of their marketing skills is to post an advertisement somewhere and then leave it there. If you want more customers, you need to reach out. As a welding business, you can’t expect people to come in from the street to ask for what you have. You need to dedicate some of your time to get some sales. Drop by local businesses that might have some interest in welding work. It is surprising what business might need some. For example, a restaurant might need some welding done for the terrace in front.
Look for opportunities and always have your business card handy. Besides personal sales, you should also do the best job possible and ask your customers to recommend you. Word-of-mouth is always a good way to advertise.
Improve Your Financial Practices
One common failure that growing businesses have is that they don’t handle their financial systems well. They have sloppy bookkeeping and they don’t know where their money is going. Try your best to ensure that you have a clear idea of your financial situation always. If you don’t know how well you are doing, then you are likely in trouble. Bookkeeping software is easy to find and learn how to balance your books is an essential skill. Use both to have a clear picture of how well you are doing.
Your small welding business does not need to stay small forever. All it requires are smart management and the right decisions. Take the necessary steps to prepare your operations and start expanding so that you can better serve your customers and community.