Winter is coming! And with the snowy season, the most awaited time of the year is also knocking right at the door– the Holidays!
What do you love the most about Christmas? Some would say it is the gifts, some would say the delicious meals or the happy family get-togethers, and for some people, it is just the festive spirit buzzing in the air. But there is something common to almost everybody. People do love decking up their halls and putting up those fairy lights around the house during Christmas.
Now, wake up the entrepreneurial spirit within you– do you see a business opportunity right there like we do? That’s right. You can grab this moment and turn it into a huge profit-making opportunity for you, simply by starting a Christmas outdoor lighting business.
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If you look at it closely, the opportunity to make money in this business is huge. It is not just the residential areas, many businesses and public places invest in outdoor decorations during this holiday season. Commercial buildings, parks, streets, and so many other facilities do not hold back to spend a little on Christmas light installation. And if you could amass some of the spending, the profit you can make will be pretty impressive in the end. And the good part is that you don’t need to invest a lot of money to kickstart this business. So, why not grab it before someone else does?
This brings us to the important question– how to start a Christmas light business?
Well, there are two ways to approach this endeavor. If you are starting afresh, you would need to proceed with starting a new service business. But if you already have an electrical service business or outdoor decoration business, the job is going to be easier. In this case, you can pursue a professional Christmas light installation business as a side hustle and make more money this festive season. Here is how to do it.
1. Plan Your Business
Planning is an important segment to set up the basics of your business operations. You must create a proper business plan to execute future decisions and avoid misunderstanding. It helps to stick to your values, rules, and standards of operation.
To do this, you need to conduct a thorough market research first. Understand the strengths and weaknesses of your competitor companies that hang Christmas lights, and leverage their weak points to create your strengths. Understanding your target audience’s pain points, doubts, and problems can also help you improve your marketing strategies and ensure that you don’t waste your funds on targeting the wrong audience. Analyze the market trends, future technology changes, and other factors that can help solidify your foundation for successful service business operations.
2. Determine A Pricing Model
When you start a new Christmas light business, chances are that there are already some competition ruling the market. Therefore, you need to ensure that you charge a competitive price for your holiday lighting business. Calculate your business expenses wisely and understand the overall average pricing of your industry to add your profit margins and scale your business to new heights. When your customers ask how much to hang christmas lights, proceed carefully. Don’t overcharge to lose competitive advantage or undercharge to shrink your profits. Focus on optimizing the business operations to help you cut down on your expenses and increase business productivity to achieve the desired business outcomes. Once you offer quality customer service and have a decent presence, you can increase your prices to stand out and earn great profits in the industry.
3. Acquire Business Resources
If you are starting your holiday lighting business as a side hustle, you will still need specialized items to carry out holiday outdoor lighting installation as well as expert technicians to do the job. No matter how simple it looks, it takes some serious skills to install outdoor lighting and decorations. Besides, it requires additional funds to cover the costs. You can allocate the capital from your main business revenue if possible, but this is a tough ask for most small businesses. In that case, you can raise business loans from different financial institutions, invest your savings, or ask your friends, partners, and family for financial assistance.
Utilizing your business loans, you can purchase the basic requirements, general liability insurance, quality Christmas lights, and other miscellaneous items for operating your business. Focus on building an inventory of lights that can help cover most of the operational costs required to start a holiday light installation business. Here are some of the basic items you will need to start your business:
Wooden ladders
Wire cutters
Zip ties
Electrical tape
LED lights
Holiday decorations
Outdoor extension cords
Light clips
Other safety supplies
Ensure that you purchase your inventory months before in bulk to avoid the price hike during holidays. But most importantly, make sure to hire expert handymen to hang christmas lights before your competitors get hold of them.
4. Market your Christmas Light Business Efficiently
Given that holiday light installation is a seasonal business, you need to advertise and promote your brand at the right time, in the right way. After all, marketing is the heart of your business’ success in today’s time. You must promote and advertise your new services to your target audience which can help you attract prospective clients and help you scale your business operations.
To this end, you can use different online or offline marketing strategies to help you rise in the Christmas light season or other festive seasons. Most successful holiday lighting businesses start as early as since August. But if you want maximum impact, invest in digital marketing. Start by building your own website and create a strong brand identity. Use the power of social platforms and create social media accounts that can assist you in creating a stronger presence online and increase your business reach and visibility. Make sure that you use different online omnichannel marketing strategies like search engine optimization, paid advertisement, email marketing, social media, online listings, and other powerful strategies.
5. Get Yourself A Field Service Software Solution
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The biggest challenge in Christmas light business is that you have to attend to multiple customers at the same time, within a very short period of time. You need to provide them with christmas lights installation cost, finalize work orders, schedule handymen, dispatch them on time, keep track of equipment, generate invoices, manage bookkeeping and accounting, and so on. But, it is impossible t6o do all this by yourself, unless you have a digital tool that simplifies and streamlines your tasks.
To get things done efficiently, therefore, invest in an efficient, smart field service software solution. It is a comprehensive tool that helps you track client and business information, manage work orders, as well as automate and standardize your overall business processes. These pest control software solutions can practically enable you to take care of all your operations, including
Scheduling and dispatching
Budget tracking
Billing and invoicing
Creating estimates
Managing repeat work orders
Sharing customer information with field technicians
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Final Words
Although you are doing it for a profit, you know in your heart that there is no more rewarding way to earn a living than by helping people celebrate during the holidays. Whether you are helping a homeowner make a statement in the neighborhood, helping a retailer give customers a festive shopping experience, or helping a town create a special atmosphere of community spirit, looking around knowing it was you who made those displays happen is a great feeling.
Having said that, running a successful Christmas light business is no easy task. It takes more than just knowing how to hang Christmas lights. You will need the necessary tools, equipment, technicians, and a sound strategy to execute the entire operation in the most efficient and effective way possible. You will have to be prepared to get a lot done within a short time, for people will not start calling for your services until the holidays are just around the corner. Given the short window of time, you will need to attend to different customers, schedule multiple appointments, generate loads of invoices, and manage various operations simultaneously. But if you are planning to do this manually, it is set to face various challenges and obstacles in terms of management.
The best way to avoid these risks, as discussed earlier, is to automate and standardize your processes. This adds transparency and efficiency to your operations while cutting a ton of overhead costs so that you can increase your profit. Therefore, if you are planning to start your own Christmas light installation business, get yourself the best field service management software. And there is no better choice than Field Promax right now in the market.
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Originally Published On: https://www.fieldpromax.com/blog/how-to-start-a-christmas-light-business/