The Plumbing Market is Growing — What Does That Mean For You?

The plumbing sector is predicted to increase by 3percent in 2021, according to studies that detail the future growth of the industry within the United States. While the Benjamin Franklin Plumbing team Benjamin Franklin Plumbing looks to examine what the market might be like soon, they are keeping an eye on the latest developments regarding their plumbing business.

With a market of $107 billion sizes by 2021, the plumbing industry ranks 5th in the construction industry based on market size and is the most populous industry in the United States. If the coronavirus epidemic has shown anything, it has affirmed the concept of the market for home services and specifically the plumbing sector as an important business.

Despite a global epidemic, Benjamin Franklin Plumbing continued to operate within the authorized CDC regulations and the local regulations, leaving the mark of what is to be an important business.

Every day, millions of homeowners and business owners look to local plumbing firms for a wide range of services. From basic drain cleaning to more intricate work, plumbing systems will never be older, so it will always be in demand for skilled support communities that you can count on.

What Does This Mean for Plumbing Business Owners?

For business owners currently in the plumbing industry, This is great news for you if you’ve got the right tools! Being one of the leading companies that provide plumbing solutions, Benjamin Franklin Plumbing has helped hundreds of businesses reach their full potential with our tried and tested equipment and systems.

They’ve become known as a household name. It is easy to recognize and allows smaller companies to remain locally owned and operated while benefiting from the trustworthiness, authenticity, and reliable brand they’ve built over time.

What Does This Mean for Entrepreneurs?

If you don’t have an existing business but are beginning to explore the possibilities, Benjamin Franklin Plumbing presents an appealing offer to entrepreneurs, regardless of prior experiences. They’ve even been recognized as the top business in Entrepreneur Magazine’s list of 500 franchises.

They offer you everything you require to succeed and benefit from the growing demand for plumbing services with the expanding plumbing industry. With their turnkey service, They provide you with all the necessary training tools and ongoing support you require to begin and expand your business and offer you opportunities to live the life of your dreams.

Instead of operating your own business and relying on our support team and processes, allowing you to take more time to do the way you want -whether you’re on vacation or looking for the next purchase!

There’s No Time Like the Present

If you’re the proprietor or manager of your own plumbing company or are looking for alternatives, now is the perfect time to connect with the team that develops franchise opportunities! With the proven tools for operation and techniques, they’ll provide blueprints and the keys to unlock your business’s potential and reap the benefits of the growing demand for plumbing services that has been forecasted! Our commitment to supporting franchisees and their commitment to providing high-quality plumbing services have created Benjamin Franklin a trusted name across the country, and it’s high time that you took advantage of it!

Employment Trends

Based on the most recent information of the U.S. Bureau of Labor Statistics (BLS), the BLS, the plumber’s outlook is expected to grow by 5percent in the coming ten years. In addition, with the industry-specific growth rate outpacing the average for employment, finding skilled plumbers will be a major challenge for plumbers.

This is especially true since a rising population reaches retirement age. The percentage of workers over 55 is predicted to increase to close to 25 percent in 2024. Furthermore, due to the extensive training offered by the industry as apprenticeship and training programs, it may take years to be a certified professional, which makes it crucial for plumbers to focus on the retention of their employees.

To do this, plumbers can raise their salaries for their employees. According to the BLS, at present, the average annual wage for plumbers is 56,000 – ($27.08 for an hour) compared to $41,950 for all other jobs that the BLS examines.

Why it is Important to Hire Experienced Plumber During Emergency

Plumbing is a very serious task, and some people do not understand the importance of plumbing problems. People hire any local plumber or try to fix the problem themselves without knowledge. These small problems can cost you a lot, and you must understand the importance of plumbing. A leaking pipe can damage a big part of the house. If your house is mostly made out of wood, a plumbing problem can become big, so hiring an experienced professional is important.

Importance of Experienced Plumber

Hiring an experienced plumber is important during an emergency. You cannot identify the problem and the extent of the problem. So, it is important to hire a professional during such emergency situations. They can identify the problem properly and devise a solution from it.

If you hire an inexperienced professional, it can even increase your problems. It often becomes a problem for households when inexperienced plumbers open up every pipe for a minor problem. Inexperienced plumbers cannot identify the problems easily, and in doing so, they mess up the whole thing.

So, it is very important to hire an experienced plumber if you want the job to be perfect. Experienced workers know about their job, and so they can perform it better than others. Hiring a professional is important during an emergency as they can help get rid of many essential issues.

An emergency in your commercial space may also require hiring a professional plumber immediately. You might be reading this because you might be searching for “commercial plumbing near me” and looking for a piece of advice before hiring a local pro.

Why Hire Experienced Plumber During Emergency?

An inexperienced plumber charges a lower rate than an experienced plumber. Experienced plumbers have high rates, and they are often busy. So, people call an inexperienced plumber to fix their problems during an emergency.

They do it to save the cost, but they don’t know that the cost will eventually increase. An inexperienced new plumber doesn’t know the work properly. They don’t have proper tools, and they often panic during emergencies.

A new worker, especially a plumber, panics during the emergency work. They do not have the experience of such problems, so they don’t know how to act accordingly. So, for saving a little money, you can ruin everything.

So, it is important to hire an experienced and professional plumber, especially during an emergency.

Benefits of Experienced Plumber

Experienced plumbers are very important for your plumbing jobs. Leaking plumbing pipes can ruin the whole house, and who can ruin it more than a leaking pipe? An inexperienced plumber. So, it is important to hire an experienced person who knows about the job.

There are several benefits of hiring a professional. The experienced plumber will know about his job, so it will save you money and time to get the problem fixed by a professional. They have tools for every problem. A professional carries all of the tools required during a job. So, it doesn’t waste time, and the job is done quickly.

The professionals work while keeping other things safe; they do not harm others while working. A job done by a professional is a permanent solution, so you won’t have to call help again and again. It is very beneficial to hire an experienced plumber. So, if you want to hire a plumber, check out some of the benefits of hiring an experienced plumber.

How to Hire Experienced Plumber

You can hire a plumber online; most services are available online. So, you can book the services of a professional online, and they will arrive at your doorstep. If you know about a plumber, you can call them to your home for the job. It is very important to hire experienced workers, so only contact reputed service companies. They only hire professionals to do the job.

Plumber Shortage And Supply Chain Issues Are Delaying Storm Recovery Efforts In Texas

Many Texans want to employ plumbers following the winter storm that ravaged February. The problem is that not enough Texans are interested in becoming plumbers. The shortage of skilled tradespeople, such as plumbers’ electricians and other trades, has been increasing over the last decade, further aggravated by issues for those who seek assistance with damaged pipes or damage to water heaters.

The long-term shortage results from the expectation that young people go to university and the culture of disrespect for blue-collar businesses, according to Brad Casebier, the owner of Radiant Plumbing in Austin.

Chap Thornton, the director of business of UA Plumbers and Pipefitters Local Union 286 in Austin, said that the low minimum wage in Texas hinders plumbers from leaving for Texas and prevents younger individuals from pursuing the profession.

 

Statement of Casebier – Radiant Plumbing Owner

 

“Young people are being told that they’ve got to go to college and plumbing and the trades are like a fallback career,” Casebier stated. “And that’s not OK, and so I think it’s a social problem that we have, a cultural problem.”

As Texans embarked on the long journey towards regaining their lives from the power outage and storm situation that may have caused the greatest damage of any state disaster in time, millions inspected their pipes damaged and started calling plumbers or visiting the local hardware store to purchase plumbing equipment.

Statement of Chris Taylor – Field Manager Radiant Plumbing

 

Chris Taylor, a field manager at Radiant Plumbing in Austin, says that the demand for plumbers has exceeded the available technicians. Radiant is currently getting triple the usual number of daily calls, and the company has more than 2,500 customers waiting to be serviced.

“It’s heartbreaking. There are many people hundreds of people who need help, who need help,” Taylor said. “And there’s nothing you can do for a lot of them because of the reality there are not enough people out there to do the work.”

What Is Still the Problem If Companies Employ Professionals?

Even if they manage to locate professionals to work with for the job, they are in short availability. Many companies that produce pipes, parts, and other tools have reduced production due to the pandemic, placing pressure on the supply chain before the crisis in Texas.

It can take months to find the right replacement water heater, and some residents have complained of empty shelves in aisles like Lowe’s or Home Depot. People who want to fix their pipes on their own cannot find the appropriate materials. In addition, to add insult to injury, consumers must be concerned about frauds and price slashing that usually occur following an incident.

In this year’s legislative session, a Sunset Advisory Commission Report on the Texas State Board of Plumbing Examiners discovered many obstacles for entry into the plumbing profession that included overregulation and complicated licensing requirements.

Legislature Voting

The Legislature later voted to eliminate the plumbing examiners’ board; However, Governor. Greg Abbott issued an executive order that kept the board in place for at most until further discussion can be scheduled during the session in 2021. In the aftermath of last week’s storm, Abbott also signed orders that allow plumbers not from Texas to get temporary permits for work within Texas and plumbers with no currently licensed licenses to work right away.

Professional licensed plumbers and other experts have backed Abbott’s decision, but they also pointed out more frequent disruptions in the plumbing supply that could create headaches for the coming weeks.

“I feel like it could become a real problem for some people, where they might wait many weeks potentially as the nation’s supply gets absorbed,” Casebier stated. “I’m very concerned about the tankless water heater parts and the heaters themselves, that there may not be enough.”

The majority of distributors Casebier utilizes to acquire components, and other materials are experiencing delays in deliveries and a huge demand for the products. On Wednesday morning, while he was talking with a company that supplies parts, Casebier had just 10 minutes to commit to purchasing 100 tanks of tankless heaters before the distributor went on to the next customer.

Consumers should also be alert to scams and price slashing by bad actor plumbers. In times of disaster, plumbers with no licenses or handypersons who are not licensed often attempt to exploit residents for their financial gain, says emergency response expert Sean Scott. Yet, those in urgent need of hot or running water typically do not have the time to verify the credentials of a plumber or price.

Statement of Christina Guzman from Odem

“Everyone was searching for the same thing. We are Odem, a town of just a few people. People joined together to provide aid and assistance,” said Christina Guzman from Odem. “There were a few individuals who traveled to the Valley and filled up on things. They might have charged people too much, but we were eager to buy them that we bought the supplies.”

Views of Thornton, Haverlah, and Scott

Thornton, Haverlah, and Scott mentioned that an electrician or plumber seeking cash or cash ahead of time is an indication of a felony. Consumers should verify a person’s credentials and license by visiting the Texas State Board of Plumbing Examiners website. Thornton stated that licensed plumbers are likely to take the next few years fixing the repairs that plumbers who aren’t licensed have been creating this week.

“People don’t realize how quickly things can turn bad without good plumbers,” Thornton stated. “That’s the water you drink, that’s your safe disposal from your waste, it’s natural gas systems and medical gas installation within your medical facilities. The control of plumbing is essential for ensuring both the security and health of residents of the state as well as the business owners.”

Others have also noted that this particular catastrophe came at the worst moment possible during a pandemic, and a decade later, an acute shortage of skilled plumbers and other professions.

“All the trades across the board in Texas have been under pressure the last decade, at least in this state,” Haverlah declared. “So, the recovery will likely be much lengthier than it would have taken a few years ago, had this occurred during a different time. It’s not clear how consumers can fix that in the near term. I don’t think there’s any solution for it for the immediate future.”

Consolidating; an answer to Independent HVAC, Plumbing Providers

Consolidation in business terms refers to the combination of two or more different business enterprises or companies into one large organization. Consolidation occurs when companies of the same size or dealing with similar products join into one to streamline their business processes and management.

HVAC and plumbing services form a large industry with an estimated $75 billion market. Services rendered by HVAC and plumbing providers are essential in any commercial or residential building, either during initial installation or maintenance.

In the United States, the HVAC market is roughly a $20 billion industry that is not prone to recession, especially throughout the warmer states of Texas and Florida.

Due to the readily available market, many technicians are investing in the HVAC and plumbing enterprises. Despite the market demand for the services, it is becoming difficult for independent HVAC and plumbing operators to compete with the larger firms.

HVAC and plumbing Consolidation opportunities

In the USA, there are thousands of independent HVAC contractors. As a result, many financial buyers see the opportunity to consolidate independent firms. Consolidation of independent firms helps to create a regional or national presence

HVAC and plumbing contractors might specialize in commercial or residential services.

Independent contractors may focus on new construction, while others focus on servicing existing units that can be viewed as a recurring revenue model.

A firm that has emerged from consolidation may also specialize in HVAC services before diversifying into plumbing services.

Consolidation of HVAC and plumbing providers has advantages when compared to independent providers.

Evolution of HVAC and plumbing providers consolidation

In the early years, HVAC consolidators involved small-scale contractors who agreed to put their companies together and form one company. They would then sell some stock and benefit from the cash. They would then hand over the new company to second-tier managers

Some consolidators evolved the scope of business by focusing on growth through acquisition. This way, they could continue to show Wall Street good revenue and profit numbers. The acquisition masters began offering stock rather than cash for newly acquired companies.

Jim Abrahams remains a key figure in the Plumbing and HVAC industry consolidation. He began as an independent HVAC technician, Invented the Abrahams Best practices concept, and then pioneered HVAC consolidation.

Trends in HVAC consolidation

Private equity nowadays views HVAC as the newest market for consolidation.

An example of a middle-market private equity firm is Alpine investors, who have recently launched a new platform for HVAC contractors called Apex Service. The goal is of Alpine investors is to partner with service providers to build a national platform.

Advantages of consolidating HVAC and plumbing providers

Technological advancement

Independent HVAC and plumbing technicians rely on obsolete technology while offering their services, whereas consolidated firms have the latest technology in the market. For example, independent providers rely on handwriting to provide drawings and quotations, which might be illegible, whereas large firms use pads and tablets with inbuilt quotes.

Marketing and advertising strategies

Independent providers rely on conventional advertising media such as TVs and newspapers. Larger firms have adequate resources invested in online advertising. Nowadays, online platforms attract more clients than conventional media.

Purchasing power

Larger firms can purchase pieces of equipment in large quantities or enter into agreements directly with the manufacturers, who then sell equipment at discounted prices. On the other hand, independent providers do not enjoy discounts and may pay more, especially if the equipment is rare in the market.

Professional advancement

Large firms may organize in-house training for their staff on emerging technology in the HVAC and plumbing sector. Training on advanced equipment for independent technicians may be difficult.

Labour shortage

Large firms have staff with diversified specialization. They also train their staff and have better remuneration packages for their staff. The larger firms have a competitive advantage over the independent providers.

Conclusion

There exists a misconception that if an independent plumber or HVAC technician engages in consolidation, they lose control over their business. However, this is not the case since an independent operator can accelerate the growth of their business while keeping their name on the transport trucks. Consolidation enables independent HVAC technicians and plumbers to be run their businesses with better resources.

Help Small Local Businesses in Maine to Stay Afloat on Small Business Saturday

Small business Saturday is a holiday after thanksgiving, and it is celebrated to help small local businesses. Small business Saturday allows Maine resident you to shop excessively to help local businesses. Small businesses are often under dept or hardships, and it is the job of people living by to shop locally to help fellow residents. The holiday is celebrated to help the local community save a business that can close down.

Small Local Business

Small local businesses are often under dept because branding has torn their businesses. Now people prefer brand name over quality, and they avoid local businesses buying from top brands. Local businesses are small shop owners that do business locally. These businesses don’t have chains that spread across the country. These are small family businesses that transfer down generation from generation.

Small businesses are more fun to shop from, they are residents, and most people know each other. In a small local business, the hospitality that one feels cannot be felt in any big brand store. So, shopping at local stores is fun, but stores of local businessmen.

Effect of Pandemic Over Small Businesses

Pandemic has ruined small businesses in Maine and all over the United States, and the owners are in huge debt due to the lockdown. The businesses could not sell during the pandemic due to the unavailability of resources. Their businesses were closed, and this affected them a lot.

You must visit local stores that you know about and inquire about their hardships. The local stores and businesses are almost ruined due to lockdowns. Learn about the effects of pandemics over multiple online platforms.

Big brands shifted to online shops. Big brands and companies have resources and utilize those resources, and they shifted their business to the internet. The online store was opened by most businesses that were not using the facility.

Although the business was down, they were still able to make profits. They were able to sell their products to buyers with the help of the internet. Promotions through television and the internet helped them stay in the game while small local businesses were closed.

Small businesses could not shift online, which caused so many problems for them. Stocks on some stores expired, and some were paying rents while not selling. Problems like these have highly affected the local businesses in the United States of America.

How can We Help Local Businesses in Maine?

Help doesn’t mean that we will have to go out and give them money to help them; no, we will have to empower local businesses. Empowering businesses means that you should buy from those businesses. Purchase daily use items from local businesses, stop using big brands for a while and focus on local.

It would be best if you shopped in the local stores; this will help them stay in business, and they won’t have to go out due to low sales. Know more about local businesses and their efforts during the pandemic to grow your business more.  Helping them stay afloat will help the local community; local businesses invest back in local communities, so it comes back to you.

Our friends and fellow community members run small businesses, and it is our job to help them out during difficult days. So, it is the job of all the people to buy and support local businesses during this difficult time. Start spending on local businesses and save them from closing down.

Small Business Saturday and Local Businesses

Small Business Saturday is a fun holiday celebrated to help local businesses. You can provide an opportunity to the local sellers to stay in businesses. Local businesses often suffer, but small local businesses have suffered unbearable losses during the lockdown period.

Most small businesses have closed down due to unbearable losses. So, take the opportunity and start thinking about the local businesses around you. Celebrate the holiday with the best intentions in mind and start shopping at the local store. This is especially for the young generations.

They do not like shopping from the local store, and the day is celebrated to remind them about the importance of local businesses and how they can help them keep up with time. Government and local communities also try to play their part during such holidays. Offers are given to encourage local spending.