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Starting Fire Extinguisher Business can turn out to be a small lucrative business. This is especially true in areas where there are many commercial and residential buildings. If you establish a loyal customer base, you can also earn money through services such as fire extinguisher refills.
Fire Extinguisher Business Profitability
Fire extinguishers can be a profitable business investment since many people see them as a safety measure. There are many ways to make money with the sale of fire extinguishers. With careful research and a solid business plan, you can earn extra money by selling fire extinguishers.
Research extinguishers. Learn about the different types of fire extinguishers such as class A, B, C and D. There are also different types, such as dry chemicals, halons, water and carbon dioxide. Determine how to properly use a fire extinguisher. The construction of a business plan that includes an analysis of marketing, the company’s statement and financial perspectives. Secure financing. Request the necessary licenses.
Find a place for business. Fire extinguisher sales locations include outlets in areas of high business traffic. Find vacations by checking online advertising and in the newspaper. Contact a real estate agent for top positions in the orientation area. Sell door to door. Select neighbourhoods in residential areas. Knocking at the doors, introduce yourself and ask permission to demonstrate your product. Sell at the flea market. Set up a table, make a catchy brand and sell at reasonable prices. Sell to local businesses.
Contact wholesalers to establish corporate accounts. Determine the quality and prices of your products in order to choose the right company. Set a price to sell your product. Buy the best product at the lowest price. Buy enough stock to last as your business progresses.
Advertising in newspapers and other publications. Flyers will post on bulletin boards, fire departments and other areas of the city. Sell to family, friends, colleagues and acquaintances. Print business cards and promotional material distributed throughout the community.
Starting this type of business involves analyzing the competition, creating a business plan, obtaining the required licenses, finding a suitable location and attracting potential customers.
Do a market analysis reviewing the competition in your area. If there is a fire extinguisher shop, do you need another? Determine if there are enough potential customers that may require extinguishers, such as homes and commercial properties in the area.
Write a simple business plan using the information you obtained from the market analysis. It includes information such as the executive summary of what the business is about, the management structure, an analysis of the market based on the information obtained in Step 1, the marketing and sales strategy and how you will obtain the financial resources.
Familiarize yourself with the different types of fire extinguishers if you have not yet done so, such as class A, B, C and D fire extinguishers. Obtain this information from sources such as the National Fire Protection Association. Keep in mind that this information will allow you to better recommend the appropriate extinguishers for different customers.
Review the regulations for the sale and maintenance of fire extinguishers in your state. Contact or visit the relevant agency, such as the state fire commissioner or fire department to ask about the possible regulations and licenses required in your state.
Obtain the required licenses to start an extinguisher business. Keep in mind that you need a general business license, a sales tax license and a federal and state employer identification number if you plan to have employees. Visit the Small Business Administration’s online site, where you can find the business licenses required in your state and specifically for your business.
Visit your local bank or a lending institution to discuss getting financing in the form of a loan for a small business, if you do not have enough start-up capital. Keep in mind that the bank will need information such as the structure of your business, how you will use the loan, your credit history, your business experience, the available guarantees and the numbers of your business licenses.
Find a suitable location for your business using the services of a real estate agency or searching in your area. Establish an extinguisher business in an area with many residential and commercial buildings, since these will be the clients you will aim for.
Purchase inventory (fire extinguishers) from a wholesale distributor. Ask the state fire commissioner to provide you with a list of registered suppliers of fire equipment. Determine an appropriate provider taking into account factors such as price, services after the sale and how long you have been in business.
Promote and market your business by creating a website or hiring a web designer to do it for you. Put fliers and posters in strategic areas such as fire departments, retail stores, real estate agencies, commercial buildings and newspapers.