Turning a welder into a profit maker - Getting the business cranked up
If you have taken stock of all your needs and weighed them out and have decided you have enough equipment and resources to get your business off the ground, you need to realize that most successful businesses require at least 3 years of operation until a true profit can be realized. That doesn't mean you can't survive, but it does mean that you need to be prepared to spend more than is coming in at times to keep building your name and reputation. You’ll no doubt discover that at some point you’ll need to have a wider stock of consumables than you ever thought. Depending upon whether you begin to weld either aluminum, stainless, or steel or any combination thereof, there will be a lot of investment needed in having consumables ready to go. Especially if you are involved primarily with MIG welding where having enough wire on hand is a priority, you'll find it to be a significant daily expense of operation. One of the "hidden costs" of operation is advertising. Even if you have a "contracted" customer, most businesses don't do well by relying on a single customer, regardless of the size of the account. Additionally, businesses seldom thrive on a single “niche” product alone, though it may be the bread and butter of the company. Creating a brand, through a company logo, and solid name is the first basic step in advertising. Sourcing local places to advertise your product or services is important. It could be the local “trader” paper or the local community bulletin board at the grocery store. It doesn’t need to be expensive or fancy. A 25 dollar vinyl lettered sign stuck to your door or one the size of a small real estate type sign stuck in your yard might be all you need to get your name out there. Word of mouth is good advertising at times, but it is slow and not as reliable as you might think. Whatever your budget, advertising must play a significant part of failure is certain.