Work that generates recurring revenue?

[Frimley111R]

We're primarily an Ev charger installer and although this is going well it does leave us exposed if there is a downturn in the car market. For example right now there are supply issues which are slowing car sales and this has a knock-on effect on us.

We're going to change the business to become a more general electrical company but one area we'd like to explore is work/contracts where we form longer term relationships with clients and then generates some recurring revenue. We're newish to the general electrical sector and so just looking for a bit of assistance here if possible.

Or is it a case of work just building as you get known (I am sure this is part of it)?

I also wondered, with larger companies, if they have preferred electrical companies? We did some work for a compasny HQ with 100+ staff and they didn't have a preferred electrical company.

 

[Zerax]

IMHO... it's the same for most trades... if you grow organically it's about building a reputation and building a client base. You do this by focussing on the basics, such as;

-Turn up on time
-Be polite/presentable
-Do a proper job
-Don't upset anyone
-Leave the job at least as tidy/clean as you found it
-Don't charge ridiculous prices

If you do the above, you stand a very good chance of the client calling you the next time they want some work done... and you might pick up some referrals too.

Right now, alot of sparks are up to their ears with work... why not see if someone local is happy to pass on any jobs that they can't get to ?

 

[GBDamo]

We're primarily an Ev charger installer and although this is going well it does leave us exposed if there is a downturn in the car market. For example right now there are supply issues which are slowing car sales and this has a knock-on effect on us.

We're going to change the business to become a more general electrical company but one area we'd like to explore is work/contracts where we form longer term relationships with clients and then generates some recurring revenue. We're newish to the general electrical sector and so just looking for a bit of assistance here if possible.

Or is it a case of work just building as you get known (I am sure this is part of it)?

I also wondered, with larger companies, if they have preferred electrical companies? We did some work for a compasny HQ with 100+ staff and they didn't have a preferred electrical company.

It may be worth looking at other, non electrical, installation businesses that need electrical pre works.

I do quite a lot for dental equipment installers, roller shutters, beer cellar equipment, anything where they need a power point where there isn't one.

Whilst not hugely profitable they are easay and easy to plan around the project work and good for filling slow days.

 

[Gavin John Hyde]

A nice little thing to do is refer your ev charger customers to octopus, for a domestic customer its £50 each fur a business its £100 soon adds up!!
Have you thought about offering a annual service package with the chargers?
It is something I am looking at, they come with a 3 year warranty in anycase. but by offering this, especially if staff are using it regularly or a public facing one, companies quite often want to know its safe. how many people will check the ev charger on an eicr beyond continuity of cpc, RCD and zs etc...
you can check the various charge states, CP link condition of port etc etc....

 

[Frimley111R]

Gavin, thanks, the Octopus thing is a great idea. I'll look into it.

Service packages are something we've looked into but with the 3yr warranty on chargers its a bit of a non starter. Plus chargers are pretty reliable. It will work more for larger commercials where chargers not working will have a much greater impact.