Start Electrical Wiring Business (Building Wiring Business) in Mississauga: There is tremendous opportunity in specific contracts, and if you have the right skill set, there is no limit to how successful you can be as an entrepreneur.
But what is the “right skill set”? In addition to training and experience, what would you need to start and grow an electrician business? What should students already know about pursuing this career path?
In this article, we break down some of the pros and cons of starting an electrician business – and the major steps involved in making it a success.
A step by step guide to starting an electrical wiring business in Mississauga
- Write a business plan
- Select whether to work as a individual trader or limited company
- Get insurance
- Register with a competent person scheme
- Find good suppliers
- Buy tools and equipment
- Build your brand
- Market to potential customers
Starting a Power Distribution Business: Benefits and Challenges
- The biggest benefit of starting your own electrician business is obvious: being your boss. You will set your standards of excellence, decide how much work to do, create your schedule, and set your own business goals. Best of all, you will get all the benefits of your hard work.
- On the flip side, these main benefits of entrepreneurship are often the biggest sources of stress! Being in charge means taking too much responsibility, and expanding your skills far beyond what is required for electrical work.
- The electrician who goes solo must take a risk and create a new skill set that includes marketing and communications, business strategy, accounting, and more.
- Maintaining and growing a new business is a challenging task. There will be fluctuations in terms of profitability, especially when you compete with other electrical wiring contractors, and deal with the eBay and flow of the construction industry.
Major steps to increase an electricity business
- First, you must complete compulsory power training and certification even before starting a contracting business.
- In Ontario, this means taking some form of pre-apprenticeship training, completing here is an address for service in Ontario;
- An electrician apprenticeship, passing a certificate of qualification exam for an electrician and registering in the Ontario College of Trade’s trippers on class.
- You may want to earn a Red Seal designation for electricity, to add to your regional certificate. Red Seal stands for a high level of excellence, is recognized across Canada, and can help your future business stand.
- But before you consider going out on your own, it is advisable to get some years of experience working for a contracting business or construction company. In this way, you will continue to build your skills while learning some of the logistics of business management.
Once you are trained, certified, and have a few years of experience under your belt, you will be ready to go alone. These are some important steps that you will need to deal with further:
- Decide whether you will buy the franchise or build your brand from scratch
- Determine which federal, provincial, and municipal permits and licenses you will need for your business
- Create a business plan
- Develop a marketing strategy
- Find electricity suppliers that provide quality products at reasonable prices
Get insurance for your business
- This is a difficult task for any new business owner. Therefore it is necessary to get some help. Before taking steps to start your own electrician business, talk to other successful contractors. Take their advice, learn from their mistakes and make helpful contacts.
- Ultimately, you may need to hire someone to help with the marketing side, especially when it comes to setting up a website, social media presence, online advertising, and other digital strategies.
- You may also require part-time cooperation with accounting and tax preparation. The gurus you associate with should be able to point you to the best people to hire.
- Most importantly, make sure you have close friends and family support. Entrepreneurship sounds like a solo effort – but it is a team sport. To make your new electrician business a success, you will need good people behind you.
Requirements for ECRA/ESA electrical contractor license
In Ontario, only electrical contractors licensed by the ESA can do electrical work for hire.
To obtain a license as a licensed electrical contractor, each applicant is screened to ensure that they meet the requirements of the Electricity Act and Regulation 570/05.
The licensing regulation prohibits the ESA from issuing licenses to a contractor that does not meet the minimum set requirements. All licensed electrical contractors must complete the following to be licensed:
- Be at least 18 years of age;
- A master electrician working for you at all times, or at least a master electrician;
- Public liability and property damage insurance coverage is at least $ 2,000,000;
- If required to register under the Workplace Safety and Insurance Act, 1997, to be registered with the Workplace Safety and Insurance Board;
- Has filed returns with the Ministry of Finance and the Revenue Agency of Canada. You should make or arrange to pay any tax, penalty, or interest assessed under the Excise Tax Act, Retail Sales Tax Act, or Corporation Tax Act; And
- ESA does not owe any money for which you have not yet arranged to pay.
Duties of a licensed electrical contractor
- This will ensure that all electrical work performed on your behalf meets all applicable laws. This includes the Electrical Safety Code and laws relating to health and safety, employment standards, consumer protection, business taxes, and business practices.
- Name of one or more master electrician to perform electrical work on behalf of the contractor.
- A master electrician will not be named if doing so makes that person a designated master electrician for more than one electrical contractor at the same time.
