Starting a septic business has become a profitable business venture, with more than 30% of homes using septic tanks to remove sewage and wastewater. That number is expected to rise in the coming years. The market size of the Septic, Drain and Sewer Cleaning Services Industry is expected to increase by 3.8% in 2022. While the work may be considered not very desirable, the potential rewards are worth it. As an aspiring entrepreneur, here’s a look at how you can develop a profitable septic business.
Research Potential Startup Costs
Learn about the potential startup costs so that you can make sure you have the finances to get your business up and running. You will need to purchase a truck and find a place to legally and safely dump the waste. Illegal dumping is a crime. Some misdemeanor offenses, such as traffic violations, are punished severely and may attract fines of up to six months in county jail, fines of up to $1,000, or both. This fine can be much heftier for illegal dumping with your vehicle. Once your business expands, you’ll probably purchase a few more trucks and set up an office. It’s also important to research your projected monthly expenses. You’ll need to purchase insurance and pay licensing fees. If you plan to hire some commercial drivers, you’ll need to set aside money to pay them as well.
Assess the Competition
Assess your competition by learning more information about other septic businesses in the area. Learning about the services they offer as well as their pricing structure can help you learn more information about the current market landscape. As you learn more information about the competition, begin brainstorming different ways that you can stand out. Offering unique services will help you attract more customers. Look for potential weaknesses that your clients have and figure out how to turn them into strengths.
Create a Business Plan
As an entrepreneur, constructing a business plan is one of the most important things you’ll do. Constructing your business plan outlines your goals and thoroughly explains your business strategies. A strong business plan can prevent you from suffering a serious setback during the initial months of operation. You’ll also need a business name. Coming up with a unique name may be challenging. Once you have a concept that you would like to move forward with, research local trademark records and check to see if the name has already been registered in the web domain. Most analysts prefer that entrepreneurs franchise their business instead of operating it as a sole proprietorship.
Decide On a Service Area
You’ll have to decide on the area where your business will provide services to your customers. Try to locate an area where there is a lot of demand, but there is a shortage of businesses that are able to meet those needs. This is an easy way for your business to turn a quick profit. If you’re opening your business on a budget, it’s probably best to offer your services within the local area without trying to expand. Traveling long distances to perform service can add wear and tear to your vehicle and the fuel costs will add up quickly as well.
Hire Skilled Technicians
Hiring skilled technicians can help you gain a competitive advantage. Try to hire experienced technicians so that things will start flowing smoothly as soon as possible. Your technicians should be experienced at using directional drilling techniques. Directional drilling techniques have been employed for almost 100 years now. Hiring skilled employees ensures that your business will attract more customers. Over the past few decades, technological improvements have meant that angles, turns, and underground distances covered are amazing feats of engineering. That’s why it’s important to have the necessary tools to complete jobs. You’ll need septic locators, hoses, and tubes because each job is a unique situation.
Once you’ve enjoyed a few years of success, you can start developing new strategies to perform more efficient service and maximize revenue streams. Consider beginning your own septic company today and grow your career!