Check out this article from Plumbing and Mechanical Magazine:
The first step is admitting you need help.
Since we first published this list last year, the U.S. and global economies have gotten worse. And no one knows exactly when it will rebound, although some experts say we have finally hit bottom.
Some of your competitors may have hit bottom, too, and are no longer your competitors. This type of business climate can really weed out the underperformers — just look at all the out-of-business signs you see everywhere.
Some of these business owners may have just decided they wanted out and didn’t have any formal exit strategy, so they just shut the business down. Others may have not had the business knowledge they needed to prosper, so they had to close up shop or declare bankruptcy.
For contractors in the plumbing and heating industry, you have better options that will keep your employees working and your communities viable and flourishing. The first step is admitting you need help. The second is to decide if you want to stay working on the business or get out. The third step is to examine the different franchise and affinity groups listed here. The next step is to decide on a group or franchise that best fits your business philosophy.
The final step? Take action! If not, one of those out-of-business signs could be in your window.
Check out the American Leak Detection franchise opportunities.