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|
Emergency Light Testing (flick test)
Emergency Light Testing (battery drawdown)
|Fire Extinguisher Servicing|
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.