Is It Worth Starting My Own Electrician Business?
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Have you been working as an electrician for someone else for a while and would love to become your own boss?
Or maybe you have a knack for all things electrical and are really skilled at installing and repairing electrical components and systems?
Being an electrician can be an extremely rewarding job. After all, part of the job is to help clients install electrical systems and restore electrical function in their buildings, homes, or commercial premises, which is essential!
Yet, running an electrician business comes with a few challenges too.
So, to help you decide whether you should start your own business as an electrician, we’ve highlighted below the pros and cons of owning an electrician business in Australia.
Pros Of Running Your Own Electrician Business
High Demand Profession
Electricians are always in demand. And even more so now that remote working has become more common since people need reliable appliances and electrical systems to carry out their work efficiently.
The thing is, the electrician shortage is a real issue in Australia with a lack of apprentices and qualified individuals. So much so that there are currently over 10,900 positions advertised on Seek.
What’s more, the expected job growth in the sector is above 10%, making it one of the most in-demand trades.
So, if you’re considering starting your own business in the space, you won’t be short of clients!
The average salary for an electrician in Australia is $90,000 a year, meaning that if you run your own business, you could make a lot more since you’ll be billing your clients directly.
The average hourly rate for electrical services is between $60 and $100 per hour. However, many electricians charge a call-out fee which usually covers 30 minutes of work (between $70 and $130) and then charge in 15 minutes increments based on their hourly rate.
To provide you with a general idea of how much you can charge for your services, here’s a list of hourly rates per Australian city:
- Sydney: between $90 and $130
- Brisbane: between $75 and $110
- Perth: between $90 and $105
- Adelaide: between $80 and $100
- Melbourne: between $85 and $130
Cons Of Running Your Own Electrician Business
Working Odd Hours
If you want to work a nine-to-five job and enjoy spending quality time with your family in the evenings and weekends, running an electrician business may not be for you. Electrician business owners work at all hours of the day and sometimes night. That’s because someone could be waking up to no electricity or losing power over the weekend.
And while you could decide not to work after hours, this could negatively affect your business as people will favour companies they can rely on whenever they need help restoring power or fixing hazardous electrical issues.
The Job Can Be Dangerous
Unfortunately, working with electrical components and systems can be risky. So much so that a few electricians die on the job every year.
That’s because, as an electrician, you’ll be exposed to burns, fatal electrical shocks, and extreme temperatures. And as a business owner, it’s important to consider all liabilities and implement procedures to prepare your team and mitigate the risks.
Your team’s safety is in your hands while they perform work for you, and you might be held responsible for anything that happens to them or your clients as a result of your business operations.
So, to find the best insurance policy to protect your business and your employees, check our free instant quote generator, where you can get an estimate on market-leading insurance in seconds.
Simply enter your occupation and expected revenue to get started.
So, Should You Start Your Own Electrician Business?
The answer to this question really depends on your own preferences.
If you have the passion, the drive, and are familiar with the risks of starting a business in this space, running your own company could be a rewarding and fulfilling experience!
However, if you worry about the risks and are looking for a work-life balance, perhaps working for someone would be better suited to you.