A Comprehensive Guide to Starting Your Own Electrical Business

Mar 21, 2024
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The electrical industry in the United Kingdom, as in other parts of the world, is positively thriving and there is no better time to take your relevant interests and skills in and around the electrical world and make a career out of them. 

What is more, recent government reports have discovered that there is actually a shortage of talented and fully qualified electricians in this country, meaning that you can be fairly sure your skills will be and required, both in and around your local area and beyond. 

With that being said, read on to discover a comprehensive guide to starting your own electrical business. 

Qualify as an Electrician

There are actually a number of different routes to qualifying as a professional electrician, including a classroom-based certification at a local college or university, or else as an apprentice working and learning simultaneously. 

Either way, you will require the following qualifications:

  1. BS7671: 2008 Requirements for Electrical Installation Certificate
  2. Level 3 Diploma in either Electrical Maintenance, Electrical Installations for Buildings & Structures or Electrotechnical Systems & Equipment for Buildings & Structures 
  3. Initial & Periodic Inspection & Testing of Electrical Installations on Electrical Technology Engineering Certificate

Construct a Detailed Business Plan 

Before you begin to look for viable financial options to start your business, it is absolutely crucial that you spend time, energy and all of your focus on developing an outstanding, accurate and thorough business plan

The essential components of your new business plan should include a brief, yet informative, description of your proposed company, which includes any niche markets you are looking to enter and the core goals of your business, which should be amalgamated with your reasons for starting the business in the first place.

Other important elements should include a financial plan, a sales and marketing strategy, an analysis of your closest would-be competitors within the industry and an analysis of your local market. 

Never Scrimp on Tools

Next, not only should you never compromise on the quality of your tools and electrical equipment simply because other brands and models are more affordable, but you should also ensure you are in possession of a broad range of different options for tools, bought from powerpointelectrics.co.uk, to make sure every job is covered.

As well as investing in the right tools for a professional electrical company, you must also ensure that every necessary piece of equipment is PAT-tested and of course, that you always diligently keep on top of maintenance and replacements. 

Take Out an Electrical Contractor’s Insurance Package 

As a new business owner, you also need to be certain you are completely covered, in terms of insurance, for any and all potential eventualities and, as such, a tailor-made electrical contractor’s insurance package.

This way, you will not only be covered for public liability but also for employer’s liability, professional indemnity, electrical contractor’s insurance and specialist tool insurance, all under one easy-to-manage package. 

In addition to insurance, it would also be strongly advisable to register with the innovative and protective competent person scheme