Financial Modelling Tool for Plumbers
As a plumbing business owner, understanding how your cash flow may fluctuate throughout the year and knowing when to make strategic decisions is essential. Brixx provides the financial tools essential for unlocking timely insights that drive your business forward.
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Model your plumbing business with Brixx - watch your finances come together in no time!
We are working on creating this template in Brixx. Although it isn’t available just yet, you can follow the guidance below to help get started. If you need any further assistance, don’t hesitate to get in touch – we’re here to help!
Project Setup
- Project name: Residential & Commercial Plumbing Services
- Time period: Monthly (to track job-based revenue and ongoing costs)
Income Components
- Component: Plumbing Service Revenue
- Sub-components:
- Emergency Call-Outs – 30 calls per month at £150 per job – £4,500/month
- Residential Plumbing Repairs & Maintenance – 50 jobs at £200 each – £10,000/month
- Commercial Plumbing Contracts – 5 contracts at £1,500 each – £7,500/month
- New Installations (Boilers, Bathrooms, Pipework, etc.) – 8 projects at £2,500 each – £20,000/month
- Sub-components:
- Component: Additional Income
- Sub-components:
- Parts & Materials Sales (markup on materials used for jobs) – £2,500/month
- Boiler Servicing Contracts – 30 contracts at £10/month each – £300/month
- Late Payment Fees & Urgent Bookings Surcharge – £200/month
- Sub-components:
Expenditure Components
- Component: Operational Costs
- Sub-components:
- Staff Wages – 4 plumbers at £2,500/month + 1 apprentice at £1,500/month – £11,500/month
- Parts & Materials Costs – £10,000/month
- Fuel & Vehicle Maintenance (for mobile service) – £1,500/month
- Public Liability & Employer’s Insurance – £200/month
- Workwear, Tools & Protective Gear – £300/month
- Disposal Fees (Old boilers, pipes, etc.) – £150/month
- Sub-components:
- Component: Administrative Costs
- Sub-components:
- Marketing & Advertising (Website, PPC, Flyers, SEO, etc.) – £1,000/month
- Legal & Accounting Fees – £1,500/year (~£125/month)
- Software & Tools (Scheduling, CRM, Accounting Software) – £200/month
- Office Rent & Utilities (if applicable) – £1,000/month
- Sub-components:
Asset Components
- Component: Fixed Assets
- Sub-components:
- Company Van – £20,000 (depreciated over 5 years)
- Plumbing Equipment & Tools – £8,000 (depreciated over 3 years)
- Office Equipment (Computer, Desk, Printer, etc.) – £3,500 (depreciated over 5 years)
- Sub-components:
- Component: Current Assets
- Sub-components:
- Cash Reserves – Starting balance of £10,000 + monthly surplus
- Accounts Receivable (Unpaid invoices from clients) – Varies but modelled at £5,000/month
- Stock of Plumbing Supplies (Pipes, Valves, Fittings, etc.) – £3,000
- Sub-components:
Funding Components
- Component: Business Loan
- Sub-components:
- Start-Up Loan (£50,000 at 6% interest, 5-year term) – Monthly repayment ~£970
- Sub-components:
- Component: Personal Investment
- Sub-components:
- Founder’s Initial Investment – £20,000
- Sub-components:
Scenario Planning in Brixx
- Seasonal Demand
- Model an increase in call-out jobs during winter due to boiler breakdowns.
- Material Cost Fluctuations
- Simulate rising pipe and boiler prices to test profit margins.
- Staff Expansion
- Model hiring an additional plumber to handle more jobs.
- Unexpected Expenses
- Simulate van breakdowns, tool replacements, or insurance claims.
Dashboard & Reporting
- Cash Flow Report
- Tracks monthly revenue vs. expenses to maintain positive cash flow.
- Balance Sheet
- Shows company assets, including van depreciation and outstanding liabilities.
- Profit & Loss Statement
- Displays total revenue, operational costs, and net profit.
- Custom KPIs
- Gross Profit Margin = (Revenue – Direct Costs) / Revenue
- Net Profit Margin = Net Profit / Revenue
- Job Profitability Per Service Type
Who can use this Brixx template?
- Plumbing business owners
- Independent plumbers and contractors
- Plumbing service franchisees
Brixx is a great tool for:
- Anyone managing financial planning and budgeting for a plumbing business
- Business owners, accountants, or managers in charge of managing revenue, expenses, and service rates
What are the benefits for plumbing businesses?
- The template is tailored to the plumbing industry, covering all aspects of service-based business finances
- Effortlessly track cash flows, service pricing, operational costs, and seasonal demand fluctuations
- Quickly analyse results and graphs to evaluate the profitability of various services
- Quickly evaluate the impact of new revenue streams, such as emergency call-outs, maintenance contracts, or new service offerings
- Receive immediate feedback when modelling different pricing strategies, hiring additional staff, or investing in equipment
Strategic forecasting in Brixx
- Assessing how changes in service pricing and customer volume affect profitability
- Showcasing anticipated revenue and growth to strengthen business loan applications
- Forecasting and budgeting for tools, vehicle expenses, wages, and operational costs
- Estimating the financial needs for expanding service coverage or adding new staff
- Analysing how market shifts influence customer demand and pricing strategies
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“Being able to run a variety of scenarios on Brixx was crucial to our first year of planning.”
Jack Berryman, MintMechGet started with the best financial projection software - today!
Financial modelling software is essential for plumbing businesses, offering the insights needed to plan and manage finances effectively. By forecasting costs, business owners can gain a clearer picture of their financial landscape. Additionally, projecting potential revenue and expenses enables informed decisions on service pricing, staffing, and business expansion.
The ability to identify market trends, adjust pricing strategies, and plan for seasonal demand further enhances a business’s ability to succeed in the long term. With over 20 years of business planning experience, Brixx stands out as a trusted solution, offering a robust set of features to help plumbing businesses confidently navigate financial planning.
Investing in expert financial modelling software like Brixx empowers you to optimise cash flow, make strategic decisions, and grow your plumbing business with confidence.