When you run a small welding and fabrication business, there comes a time when you have to decide on its future. In the first five years of operation, many of small businesses fold because they don’t stay competitive.
One way or the other, your operations need to grow. Here are some tips on how to make it happen:
Hire More People
Many welding businesses start with only one person, usually you. But as orders come in, you are going to need help. If you are working more than 40 hours a week to meet your commitments, then you need help. This is where recruiting the right people comes in. There are two good options for you. If you are looking for permanent help, you should get people through staffing agencies. They do all the heavy lifting of initial interviews, background checks, and more. It will still be up to you to decide on whether to hire them.
If you think you are only seeing a surge of work, then independent contractors can be your other option. This doesn’t work in the usual way of employing someone. Technically, with independent contractors, you are subcontracting the work to them. They are more expensive but they are also less of a burden on you. This is mainly because they work for a flat rate, with no need for you to pay the usual fees.
Buy Only Necessary Equipment
One of the big expenses that you will have for your welding business is the equipment. Your welding gear is already going to cost you a lot. But if you want to expand, you’ll need to buy several more pieces of equipment. The important thing to do before going on a spending spree is to determine what you have to buy. For example, when looking for pipe stands for sale, choose the one that will best meet your needs right now and not one that is more expensive and has features you don’t need. Less expense means more wiggle room for other things.
Learn to Specialize
One thing you need to decide on is to finally specialize on something. Being a generalist is fine and allows you to take jobs, but being known for being good at something can have people turning to your specific jobs. For example, if you are known for doing good work with home welding, then you’ll be able to capture the local market for it. If you can’t compete on quality though, you should consider being fast. Some customers need good enough work at fast speeds so they may turn to you.
Market Yourself
Growth is driven by the increase in customers and you can only have more customers if you start to advertise. One great way to do that is by building an online presence. Hire someone to create a website and a social media page so that people can contact you. Besides that, you should take steps to raise your brand profile among potential customers through networking and sales calls.
Many businesses find themselves vulnerable when they try to expand and grow. But it doesn’t have to be that way. With the right approach, your welding and fabrication business should be able to weather the risks and be competitive as it grows.
