Wondering how much do Plumbing Business owners make? Keep reading!
If you want to start a business, no matter the niche, among many other questions, you will ask how much will that specific business make?
Even though it might be easy to figure out how much a traditional global business makes, like software or product businesses, it is always hard to estimate how much a local business like a plumbing business will make since it totally depends on your ability to find clients, how much you charge on your specific state and city, and how fast you will finish one client’s business and go to another one.
Read: What Is Plumbing?
You might hire people to do the work for or with you, but it will still depend on the area’s potential for customers and how high the prices can go.
This article will talk about how much plumbing business owners make on average and show you whether it will be worth it or not to have a plumbing business.
How Much Do Plumbing Business Owners Make?
There are a variety of plumbing businesses and a variety of working ways.
Some plumbing businesses charge a flat rate with different types of business they go to; some plumbing businesses have different rates depending on where they go and what kind of business they take on.
The size of the entire plumbing business also affects the charges on the jobs because if a plumbing business has a lot of clients, workers, and different types of expertise within their domain, they will be able to charge a flat rate to cover their expenses.
But if you are a one-person business and you are charging clients per hour or depending on how hard it is and how far away it is from their city or state.
On average, whether it is a one-person plumbing business or a multiple-worker plumbing businesses, typical plumbing works are somewhere between $150 and $500.
This number is only for the work you do; there is also a flat service fee no matter how much you work on the job. This is apart from the classical hourly rate or a flat rate per job.
An average master plumber working by themselves in their company charges these prices, which would equate to around $45 per hour; by working 8 hours every day, they can earn up to $100,000 annually, which is a six-figure salary that many professions do not get to have.
To conclude, the amount of money plumbing business owners make totally depends on the size of the company, the number of jobs they take on, and how much they can charge in their city.
If you are in a small city, the prices you can charge will be lower than in a massive metropolitan city like Los Angeles.
That is why it depends, but on average, a master plumber with a one-person company can expect to earn close to $100,000 if they charge somewhere between $40-$45 and work 8 hours per day.
Amit Gupta is the founder of National Planning Cycles, a company that helps startups, individuals, and small businesses with their financial planning. He has a vast amount of experience in the finance sector, having managed Google Play accounts for some of the world’s most successful unicorns. Amit is an expert in his field, and he uses his knowledge to help others achieve their individual goals.