As a plumbing contractor, you should fare better than the average small business owner. While no consumer will be able to live with a leaking pipe, most will not be able to fix it themselves. In addition, the demand for plumbing work never really goes away. As a result, you can make a significant return over the long run by investing in your own company. Whether you choose to invest in training, equipment, or a combination of both, a plumbing business owner can enjoy significant returns.
First, live below your means. Experts recommend that you live well below your income, which means spending less than you earn. This rule works for people of all income levels. For example, if you earn $25,000 per year and spend $20,000 per year on rent, you should be able to save more than half of that amount.