Do you have a knack for installing electronics? Starting an electronic installations business might be the perfect opportunity for you. Electronic installation technician’s implement a range of technologies. You may have seen this in cars with the installation of GPS and audio technologies, cameras, driver safety systems, tracking devices and so on. However, it can also translate into other industries such as the installation of Christmas lights on commercial premises or alarm and CCTV monitoring. While this is an exciting and upcoming industry, starting a business can be tricky and a little confusing. Rest assured, here’s a quick guide on how to start your own electronic installations business.
Get Qualified
If you are not already qualified, your first step is to complete the relevant certifications to be an electronic installer. As this line of work involves the use and installation of electrical equipment, you may need formal qualifications. For example, in New South Wales you will need a Certificate III in Electronics and Communications. This can be completed at a TAFE Institution.
If you plan on carrying out more complex electrical work, you might need to look into electrician qualifications. In NSW, this involves completing a Certificate III in Electrotechnology followed by a four year apprenticeship. You can then obtain your electrical license and you’ll be on your way to a career as an electrician.
Set Up The Business
As with any business, the first step is to establish the legalities and create the business. One of the first steps you should take is to decide on which business structure you would like to operate under. This may be either a:
- Sole trader
- Partnership
- Company
- Trust
If you are having trouble deciding, have a look at our article ‘A Definitive Breakdown of the Pros and Cons of Each Business Structure’. You will also need an Australian Business Number (ABN), which you can apply for here.
If you choose to proceed with a company, you should register your company. A company structure has its benefits, as it creates a separate legal entity. This means you have limited liability which ensures your personal assets are protected.
Source Your Equipment
Congratulations, you have now established your new business. Now it’s time to source the equipment and electronics. Starting up any business isn’t cheap, particularly in the electronics industry as equipment can be expensive. You should consider buying essential tools that will be required day-to-day to install the electronics. On the other hand, equipment that you may only need to use sporadically could be hired on a needs basis. You may also consider investing in a vehicle to carry your tools and equipment and transport you between jobs.
Create a Business Plan
You’re probably sick of paperwork and planning and just want to start your electronic installations business. However, the value of a strong business plan should not be undermined. A business plan establishes the core goals and objectives of your company. It also sets out a direction for your business and a path of how you can get there. If you are a mobile business, it is important to set geographical boundaries for how far you are willing to travel. You can then look into geographical opportunities for growth and the possibility of expansion into the future. You can customise your Business Plan here.
Concluding Thoughts
To conclude, the electrical installation industry is an innovative and upcoming profession with huge potential for growth. If done correctly, having your own business can be extremely rewarding. This is why it is important to do your research and follow the steps in our guide to increase your opportunity for success. If you need a hand, consult a business lawyer who can help you set up your dream business.
