Welders who hope to open their own shops have quite a bit of work ahead of them. Before renting a shop or loading up on equipment, they will need to do a lot of research into the details of starting a business and what a welding business needs in particular. With the majority of new businesses failing, here are some tips on launching your own welding business.
Specialization and Range of Welding Services
It’s important to build a good reputation when you start your business, and therefore you’ll want to focus on the type of work you do best. If you’re not competent at TIG welding, don’t advertise your services. Focus on the kinds of jobs you can do well so that your customers will give you repeat business and recommend you to others.
Every business needs a strong identity, and therefore it will also be important to make sure your company’s name conveys exactly what you do. Having a clear idea of your specializations will help you know when to turn down jobs that aren’t a good fit.
Competition and Welding Needs in Your Area
If there are five competent welding shops in your city, you’ll need to think carefully about how to position yourself. Are they all swamped with work to the point that you could pick up enough customers or are they laying off employees? Can you offer a different service such as mobile welding that will branch into a different aspect of the business that they can’t cover?
Cash Flow for Your Welding Business
You don’t want to open your welding shop in the middle of winter and get hammered by a killer heating bill that cleans you out in the first month. Plan your cash flow according to what you anticipate going out and how much you think you can reasonably make in a month. Don’t forget to plan for unexpected expenses and maintenance.
The Day to Day Operations of a Welding Business
Depending on the size of your business, you’ll need to plan how you’ll answer the phone, keep track of customers, and handle both your outgoing and incoming bills. A few simple things such as a filing cabinet and a blue tooth headset for your phone can help you solve these problems if you’re running a small shop.
Purchasing the Right Equipment for a Welding Business
Every welding machine in your shop is a long term investment. Going for a used or cheap machine may cause major problems down the line.
Storing Filler Metal for a Welding Business
Since a weld can be ruined by contaminants in the air and a welding shop will be filled with dirt and bits of metal, store your filler metals in clean, safe locations where the temperature is stable.
Preventative Maintenance for a Welding Business
A broken welder in the midst of a job can be a huge problem if you’re working on a tight schedule or can’t afford to rent a replacement welding machine while your main machine is in the shop. By investing time into preventative maintenance you’ll be able to fix your machines at times that are convenient for you and ensure that you’ll never be surprised by a broken machine.