5 Ways To Increase Revenues For Your Electrical Contractor Business -enhancing your existing service

5 ways to increase revenues for your electrical contractor business: Day 3

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So far we have covered increasing the value of your existing service and increasing the price of your existing service, however, enhancing your service can be where you realise significant growth.

Enhancing your existing service

Expanding your business to add more services can be extremely rewarding financially but must be considered carefully. You clearly have an area of expertise and moving too far from this can dilute the value you offer, so consider expanding your services with those closest to what you do now and go from there.

The concept is that if you are already on-site completing a job, are there additional services you can deliver, which would be costly for the customer to purchase individually, but cheaper for them to buy from you. However, still providing you with a healthy margin.

Some examples of services that can be added to a typical electrical contractor are.

Portable Appliance Testing
Asst Registering
Lightning Protection
Emergency Light Testing (flick test)
Emergency Light Testing (battery drawdown)
EICR Remedials
Voltage Optimisation
Fire Extinguisher Servicing
Fire Alarms
Intruder Alarms
Energy Monitoring
LED Lighting
Power Factor Analysis

Increasing the revenue you receive from each visit is vital here, however increasing the number of visits can also be a great way of providing your business the opportunity to add more services. Therefore, consider moving as many of your existing services to a Pre-Planned Maintenance approach, completing a smaller amount of work on each visit for the original service, over multiple visits. Then, whilst you are there, you can easily slot in the additional services you have identified.

This approach also assists you in building a much stronger relationship with the client, to both win more business and stave off the competition.

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