How to Start a Small Business
Starting a Fluorescent Lighting Business
Launching a fluorescent lighting business can get you on the path to a secure financial future if you do it right. We offer a few secrets to give you a jump-start on planning for your business.
Thinking about opening a fluorescent lighting business? We tell you what you need to know to get started.
Eager to start a lighting business of your own? This article explains how to get started.
The Commercial Fluorescent Lighting Service Market
Fluorescents are a primary lighting source for millions of businesses throughout the nation. From mom-and-pop shops to vast corporate campuses, fluorescent lighting is the preferred method of illumination because it burns brighter, cooler and longer than traditional bulbs.
But relying on fluorescents also has certain disadvantages, namely the inaccessibility of overhead fluorescent light fixtures and the need to dispose of used bulbs in a safe and environmentally friendly manner. And that's where commercial fluorescent lighting services enter the picture.
Rather than handling their own fluorescent lighting needs, many businesses prefer to outsource the job to a qualified fluorescent lighting service provider. As a fluorescent lighting business owner, you will be responsible for supplying your clients with new bulbs and ballasts, maintaining their fluorescent lighting system and properly disposing of their burned out bulbs - in exchange for the cost of materials and a recurring service fee, of course.
Distinctive Features of Growing Fluorescent Lighting Businesses
Starting a fluorescent lighting business is much easier than growing one into a vibrant business enterprise. Growth is a critical startup goal - and here are a few of the common features you will find in growing fluorescent lighting businesses.
- Customer Service Focus. First and foremost, growing fluorescent light businesses have a strong customer service focus. Experienced technicians, flexible maintenance contracts, affordable service fees and other features are all designed to achieve a single goal - a better customer experience.
- Aggressive Client Acquisition. From a strategic perspective, growing fluorescent light businesses emphasize new client acquisition. By leveraging a combination of effective B2B sales and marketing tactics, the most promising fluorescent service companies routinely add to their stable of clients to achieve growth and expansion.
- Substantial Recurring Revenue. An aggressive client acquisition strategy has no value for growth unless it is accompanied by an effective client retention program. Since fluorescent service companies base their business models on recurring revenue (i.e. service contracts), it's critical to monitor your monthly client list for unexpected dips in the number of existing clients your startup serves.
For More Information
To stay on top of current developments in the fluorescent lighting service industry, we strongly encourage startup fluorescent lighting business owners to participate in the International Association of Lighting Management Companies (NALMCO) and other trade organizations.
Creating a First-Rate Fluorescent Lighting Company Business Plan
A business plan isn't just another startup formality. It's a core business document that will guide your fluorescent lighting business's decisions and activities on a go-forward basis.
Accuracy and an eye for detail count when writing a business plan. If your business plan is based on unrealistic assumptions and best case scenarios, you will have done your fluorescent lighting business a major disservice.
Instead, commit to creating the most precise business plan possible. If you're still not convinced, consider what the experts say about business plan writing.
Check Out Competitors
Prior to launching a fluorescent lighting business in your town, it's essential to find out how many competitors you have. We've provided the link below to help you find competitors in your city. Complete the form by entering your city, state and zip code to get a list of fluorescent lighting businesses that are close by.
It's important to be aware of what the competition is doing. Take the time to visit the competition to properly assess their strengths and weaknesses.
A Good Source of Advice
After you've evaluated your local competitors, it's a smart move 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.
Fortunately, somebody who runs a fluorescent lighting business in a different city can be a great learning resource for you, as long as they don't view you as a competitive threat. Indeed, many experienced entrepreneurs enjoy offering advice to startup 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.
What's the best way to find a fluorescent lighting business owner who is willing to advise you because you live in different cities?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Guidelines for a Fluorescent Lighting Business Acquisition
There are a lot of reasons why it may be preferable to acquire a fluorescent lighting business instead of starting a new business venture.
Although buying a fluorescent lighting business offers several advantages for startup entrepreneurs, there are still several key factors to consider. Right away, you'll want to make sure the business is capable of meeting your ownership expectations.
If the business is right for you, the assistance of a business broker will help all of the rest of the pieces of the process fall in place and you will be well on your way to owning a proven fluorescent lighting business.
Don't Forget About Franchising As an Option
Your chances for growing your business increase when you choose to franchise and leverage their successful brand and track record.
If you are thinking about opening a fluorescent lighting business, you should investigate whether franchising might 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.
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