Thinking about opening a telephone and television cable contractors business? We tell you what you need to know to get started.
Telephone & TV Cable Contracting Industry Outlook
The demand for capable telephone and TV cable contractors is at peak levels – and showing no signs of slowing down anytime soon. Although the wireless industry has dented demand for residential phone cable installations, the drop has been offset with increasing demand for commercial phone cable and the nearly 50% of U.S. homes that are equipped for cable TV.
The expansion of cable into the Internet service provider market has heightened demand for cable installations even further, creating a highly favorable outlook across the industry. With the craving for web-based entertainment and commercial applications increasing exponentially, there is reason to believe that cable contractors are poised for growth and expanded business opportunities.
New entrants to the cable installation marketplace should position their businesses to take advantage of both today's market trends and anticipated growth opportunities. By shaping your startup to take advantage of the next big trends in phone and TV cable, you can quickly outpace competitors that have a longer track record in the industry.
Characteristics of Profitable TV & Telephone Cable Contractors
Like any business startup, there is no magic success formula for TV and telephone cable contractors. However, there are several characteristics that are common among industry leaders.
- Pursuit of Innovation. As a technology rich small business, your telephone and TV cable contracting company will need to embrace innovation at every turn. Services including cable installations, fulfillment services, underground construction, structured cabling and more need to be performed in accordance with industry standards and designed to accommodate the latest technologies.
- Effective Hiring. Hiring the right people is a critical hallmark of profitable cable contractor firms. A willingness to do the hard work required for cable installation is a good start, but it isn't enough to ensure complete customer satisfaction. Instead, your hires will also need to be trained in specialized installation techniques, customer service and other key areas.
- Employee Tracking. As your startup grows, you will ultimately need to hire additional staff to keep up with your workload. But if you don't have a system in place to monitor and route workers to job sites, it's easy to drop the ball and create a highly inefficient workplace. At a minimum, consider implementing employee scheduling software or even a fleet GPS solution to monitor your operation.
Business Plans 101 for Telephone & Television Cable Contractors Business Startups
You've been working on your telephone and television cable contractors company's business plan for a while now and you think you're really starting to make progress. You've covered your mission, your strategy and the financial chapter is top notch. Now it's time to address details about your industry.
Industry analyses are standard chapters in telephone and television cable contractors company business plans and are often required by lenders or investors. Industry analyses are critical for contextualizing your startup within an industry setting.
Although it sounds complicated, most entrepreneurs can create an effective industry analysis section by simply steering clear of common industry analysis mistakes.
Assess the Competition
Long before you open a telephone and television cable contractors business within your community, it's essential to find out what the competition looks like. Try our link below to get a list of local competitors in your area. Simply enter your city, state and zip code to get a list of telephone and television cable contractors businesses in your town.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
As part of your due diligence on opening a telephone and television cable contractors business, you really ought to talk to somebody who is already in the business. It's very unlikely that the local competition will talk to you. The last thing they want to do is help you to be a better competitor.
Thankfully, an owner of a a telephone and television cable contractors business outside of your community will be much more likely to talk with you, given that you don't compete with them in their area. Many business owners are happy to give advice to new entrepreneurs. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
How would you find somebody who runs a telephone and television cable contractors business in another city who you can speak with?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Gaining Access to Telephone & Television Cable Contractors Business Ownership
Common sense will tell you that to enter the world of telephone and television cable contractors business, you'll either need to start a new business or acquire a promising company on the business-for-sale marketplace. But despite the attraction startups have for many entrepreneurs, you should also consider the benefits of buying a telephone and television cable contractors business.
In today's marketplace, buyers clearly have the upper hand, making it relatively easy to find a telephone and television cable contractors business that meets your personal and professional objectives.
Is Franchising the Right Option?
The probabilities on your making a success of your new business immediately improve when you join the ranks of franchisees and benefit from the prior work of others and their lessons learned.
If you are thinking about opening a telephone and television cable contractors business, you would be wise to check out whether buying a franchise could make sense for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you currently own a telephone and television cable contractors business, try these useful resources:
If you sell to telephone and television cable contractors businesses, we've got better information for you elsewhere on our site. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.