Reach new heights: How to start your own lift company

Introduction

The lift market is dynamic and growing, presenting attractive opportunities for entrepreneurs with the right know-how. However, the journey from a business idea to establishing a company can be complex. This article provides a detailed, step-by-step guide to help you successfully start and establish your lift company in the market.

Step 1: Market Research

Understanding your target market and competitors is crucial. Research and analyze the lift market, including demand, competition, and regulations, especially those that apply to the region you want to operate in.

Step 2: Develop a Business Concept

Develop a clear business concept that outlines the type of lift company you want to run – whether it's assembly, installation, maintenance, repair, and/or modernisation. If you plan to offer lift services, having good maintenance contracts is a vital business foundation.

Step 3: Create a Business Plan

This document is your roadmap and presentation. Your business plan should cover the following topics: business model, marketing strategy, revenue planning, cost planning, financing, and a company presentation. A well-developed business plan is the foundation of your strategy.

Step 4: Choose Legal Form and Ensure Compliance

Decide whether to establish a sole trader, a limited company (Ltd), a public limited company (PLC), or a partnership. Clarify legal requirements such as business registration, tax issues, and insurance. Professional consultation with a lawyer or tax advisor is crucial here to make the best choice for your specific situation.

Step 5: Technical Certification

Ensure your lift company meets all necessary technical certifications and standards crucial in the industry. This includes compliance with the European Lift Directive, relevant safety certifications, and DIN EN standards related to safety, construction, and operation of lifts. Additionally, you can seek support from professional associations in this area.

Step 6: Technical Equipment and Business Furnishings

Equip your company with specialized technical equipment and tools essential for the installation, maintenance, and repair of lifts. This includes service vehicles for transport, specialized diagnostic tools for control systems, necessary protective workwear, and mobile phones for communication. A well-equipped office setup with computers, printers, stationery, and company stamps is also crucial for efficient administrative management.

Step 7: Branding and Marketing Strategy

Develop a strong brand identity that reflects your expertise in the lift industry, and create a targeted marketing strategy to effectively reach your audience. Utilize both digital and traditional marketing channels to strengthen your market position. Carefully consider what you want your company to stand for.

Step 8: Sales

Formulate an effective sales strategy to identify and engage potential customers. Establish a network of customer relationships and use targeted methods to successfully position your service in the market.

Step 9: Accounting

Monitor your finances closely by tracking revenues, expenses, and profits to ensure the profitability of your business. Maintain meticulous bookkeeping and use business management software for a clear financial overview.

Kickstart Success with Mainteny's All-in-One Solution

More and more independent business owners in the lift industry are choosing Mainteny as their go-to solution from day one. Specializing in the unique needs of the lift sector, our comprehensive maintenance management software provides a complete overview of your business operations, saving you significant time and energy right from the start. With the Mainteny app or desktop platform, you can seamlessly manage jobs, clients, quotes, invoices, and work orders. Our system streamlines every aspect of your lift business, from client engagement to inventory management, all within one intuitive, integrated system.

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