Local Electricians: Create Your Own Business

04/10/2018 08:00 | Start a business

local electricians

Have you ever wanted to start your own business as an electrician but wondered what local electricians actually do? The truth is that the job can be very varied; from repairing a light socket to a sizeable re-wiring project in a factory. But what many people dont realise, is that depending on what jobs local electricians wish to undertake, it has an impact on the skills and qualifications that they need.

Local commercial electricians

If you ask most people what an electrician does, the answer given is that they install or fix electrical systems in houses. And while this is undoubtedly true, there are other types of electricians too.

Many local electricians choose to become adequately trained to cater to the commercial market, as well as the residential. It takes longer and is more expensive to become qualified but increases the size of the customer base and earning potential as a result.

The benefits of becoming a commercial electrician include:

The projects worked on tend to be longer and therefore provide an element of job security for self-employed electricians.
Larger projects offer more significant earning potential.
Longer jobs mean that commercial electricians get the chance to prove their skills and therefore future jobs may be won as a result of word of mouth. This means that less money needs to be invested in marketing.
Commercial work tends to contain more actual electrical work and less of the lifting of floorboards and knocking down walls that domestic work typically entails.

Whichever route you choose to go down, if you decide to start your own business, there are some crucial steps you'll need to take.

What you need to create your own business

Here are four steps that you need to go through to become your own boss.

Get the right qualifications

Local electricians cant just rely on their ability to change a light bulb to become a credible tradesman. Official certification is crucial for the safety of you, your clients and any members of staff that you may employ.

There are three main ways to become qualified as an electrician if you have no previous experience.

1. An apprenticeship

If you're under the age of 25, then an apprenticeship scheme is a great way to learn on the job. You get to work alongside an experienced electrician while learning the theory at college. An apprenticeship can take between two and four years to complete at which point you will have earned an NVQ level 3. Securing an apprenticeship opportunity can be tough, so spend time finding reputable local electricians that are looking to take an apprentice on.

2. Level 2 and 3 diploma

If you cant find any local electricians to take you on, or youre over the age of 25, then you have the option to apply to take a level 2 and level 3 diploma. Youll learn all the practical skills and theory that you need to start work as an electrician. How long the course will take depends on the type of electrician you want to become. If you're hoping to become a domestic installer, then it will be a shorter course than if you're training to be a commercial or industrial electrician. Courses can last anywhere between two and eight months.

3. The domestic electrician qualification

If youve decided that youd like to start your business as a domestic electrician, then you can gain the relevant qualification quickly and easily. Since 2014, the domestic electrician qualification has enabled people to start working in their clients homes as soon as the training is complete. This provides an excellent opportunity for aspiring electricians but remember, if you decide to become a commercial or industrial electrician at some point in the future, you would need to gain further qualifications.

Money

Starting a new business isnt cheap so you'll need to have adequate capital in place to fund your new venture. If you choose to start an independent company from scratch, then you'll need to pay for your training, a vehicle and your equipment. The costs will vary depending on what type of electrician you decide to be.

There is another option though. If youre concerned about the many unknowns involved in setting up a business, particularly how much it will cost, then you could invest in an electrical franchise.

One such opportunity is Mr. Electric which is a franchise that offers domestic and commercial services. The total investment costs range from £64,000 to £142,000, but in return, youll receive all the training and marketing support that you need to make your business a success.

Business plan

When youve decided on how youre going to finance your new business, its time to develop a business plan. This is an important document that will help you to understand your financial position, your plans and how you're going to achieve your goals. Your business plan is essential if you need to secure finance to fund your business, but you should create a plan regardless of whether you need to approach a lender or not.

Your business plan should include financial forecasts, your background and your experience. Youll also need to provide information about where your premises are likely to be, or if your business will be home-based. Your business plan should contain a competitor analysis with details about how you're going to differentiate your business from other similar companies in your area.

If you choose to invest in a franchise, your franchisor should be able to help you complete most of the document, but it's still crucial that you fully understand how your business will work and perform.

Desire to be a success

You may have the best qualifications and be the most skilled commercial electrician around, but if you don't have passion and determination, you're unlikely to succeed. Being a business owner can be tough at times, and this is true for electricians also.

In 2017, there were 265,000 employed and self-employed electricians in the UK, so competition is fierce. Whether you decide to go it alone or start a franchise, without a desire to make your business a successful one, you'll find it difficult to stand out from the crowd.

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