The pandemic has become a great motivation for people to reconsider what they are doing with their careers. Many people realized that depending on another company is not a good way to secure their income, and so have begun to start their own small businesses.
Small businesses are businesses that a small group of people runs or even one person. Usually, these companies are local businesses and far from becoming international ones. Nevertheless, when these business owners put in the required time and effort, they may be able to succeed and become a major, global brand.
Many people realized during the pandemic that running a business from home allows them to enjoy their lives because of the freedom of doing something they feel passionate about without having to plan their lives around their full-time jobs.
This article will educate you on how to start a business, with particular reference to businesses that offer solar panels, and what steps you need to take to gain the attention of your target audience and run a successful business.
Table of contents:
- Starting a business from home
- What are solar panels?
- How to be successful selling solar panels from home
- How to become a solar panel distributor from home
- Writing an effective business plan and strategy for selling solar panels
- Tips to have a profitable solar panel business from home
#1 Starting a business from home
Starting a business from home is a tricky process.
The most important thing people need to do when planning on starting a business is to figure out what they are passionate about and, after figuring that out, figure out how they can combine their passion and people’s needs to create something useful for the market.
Many small business owners who operate their businesses from their homes have been able to solve a problem in other people’s lives by combining their passion and the public’s needs.
Although it’s scary starting your own business, if you have the opportunity to combine your passion into a solution that’s actually useful for people, taking the risk can come with big payoffs - if you do it right!
#2 What are solar panels?
Nowadays, more and more people are finding it important to become eco-friendly, and being eco-friendly means contributing in a way to decrease one’s carbon footprint.
One of the things that innovators have been able to create is solar panels, which are a great way to mitigate the effects of climate change by removing the reliance on fossil fuels.
People use solar panels for different reasons - generating electricity, charging batteries, or heating water. Installing a solar panel brings many benefits, like reducing electric costs, having an infinite amount of renewable energy, and a high return on investment (ROI) because of these benefits.
In recent years, businesses that provide solar panels are seeing major increases in their profits and revenues because many people are substituting their main energy sources with solar panels.
If someone is interested in providing eco-friendly products and contributing to reducing pollution and CO2, becoming a solar panel distributor from home is a good way to start.
#3 How selling solar panels from home can be successful
Since solar panels bring many benefits to people’s lives and are convenient to use, they have become popular to the extent that the demand for solar panels has started to increase each passing day.
However, although the number of people desiring solar panels is increasing, the number of solar panel distributors has not risen per the demand.
For that reason, the supply and demand for the solar panel industry are not in equilibrium, causing a shortage in the number of solar panel distributors.
So, entering a market as a supplier where the number of suppliers is not enough is bound to have a positive outcome in the long run. That is why becoming a solar panel distributor can be a successful business.
When deciding to start a solar panel distributor business, these people should think about doing it from home because becoming a distributor does not require a lot of extra space for the business’s operations.
The only thing that these people will need is a good internet connection, telephone service, and a notebook.
Plus, starting a distributor business from home reduces the costs of renting additional office space and paying extra taxes and bills for the office.
#4 How to become a solar panel distributor from home
In most cases, when people desire to sell solar panels from the comfort of their homes, they will not be the ones to produce the actual solar panels. Instead, they will be the middleman - distributor - who will give the target market the desired quality of the product that they need at the most affordable price.
To be able to sell solar panels from home, owners of these businesses need to invest time and money into the communication and marketing strategies used to run their business.
Additionally, these individuals need to be well-educated regarding their finance management.
Being well educated regarding the financial aspect allows people to put a budget based on their investment and profits, plan how the income should go back into the company’s operations to expand the business, and other finance-related tasks that a business is required to complete.
Become an authorized solar panel seller
Selling solar panels is not as easy as selling other products.
To become a solar panel distributor, the business must have a legal license to become an authorized solar panel distributor. For this reason, people need to meet some requirements.
First of all, to become an authorized solar panel distributor, there needs to be a contract with a solar panel manufacturer which will supply and install the solar panels.
For this step, a lot of research is required to be able to sign a contract with a supplier who manufactures high-quality solar panels.
After signing the partnership agreement with the manufacturer, there is an exam that the business owners need to pass to ensure they are following safety precautions during the installation process.
The last step is purchasing insurance coverage for their business.
After completing these steps, an individual will become an authorized solar panel distributor, where they will be able to attract more customers.
#5 Writing an effective business plan and strategy for selling solar panels
After deciding that the solar panel business is the right fit for you and becoming an authorized solar panel distributor, you should write your business’s most effective business strategy.
An effective business strategy is one of the drivers of ensuring that a business will succeed. Since the solar panel business is booming at the moment, these entrepreneurs should take the leap and take advantage of the opportunity to get started.
Writing a good business strategy means acknowledging how to operate a business effectively.
A business owner can do this by acknowledging the weaknesses with a SWOT analysis, knowing the competitive advantages over other businesses, figuring out which companies they can outsource for solar installer services, and many other things that go into selling solar panels from home.
#6 Tips to have a profitable solar panel business from home
Now the business plan is written and all of the research is done regarding having a legal certificate to become a solar panel distributor, who should be the supplier of the business, which company should complete the delivery and installation process, etc. Here are some additional tips to expand and have a successful home-owned distribution business.
A) Plan how you will get the word out, i.e. how you should market your solar panel business
Selling products that give renewable energy to buyers is an attractive offer to many homeowners. Since these products reduce electric bills and give other benefits to buyers, solar panel distributors need to develop a creative marketing plan to expand the number of people they are reaching and, in the long run, become a global business.
Marketing is the most important way to reach other people and increase brand recognition. When a business enters a market, the first thing it should focus on to increase its brand awareness is attracting more customers and buyers.
For that reason, businesses need to know which market segment they will target.
When it comes to selling solar panels, a business should figure out whether they are going to target homeowners or public organizations. For example, it could be a business that wants to work with schools, restaurants, cafes, or hotels; on the other hand, it may be that they are targeting people who own a private house or a property.
Choose the right target market
The first step in the marketing plan should be figuring out which segment of the market brings the highest profits for the business. Many things determine which segment is right for your business, such as the location of your business, for example.
Time and effort spent on marketing operations will be wasted without figuring out the right target market.
Implement digital marketing in the marketing plan
As the world is evolving, many businesses are trying to make themselves known using online resources. These resources include social media marketing, email marketing, or driving traffic to their website by implementing good SEO practices.
To find customers willing to pay for solar panels, it is essential you create social media platforms to market your business, design effective email templates for email marketing campaigns, and have an active business website where people can learn more about the offers you provide.
B) Improve your communication and interpersonal skills
As mentioned above, becoming a distributor of solar panels from home mainly requires an individual to have good marketing strategies and the ability to communicate with people.
Working on communication and interpersonal skills is a crucial part of a distributor’s job because these skills will expand the network of the individual and allow them to have long-term relationships with their customers and even solar panel manufacturers.
C) Work with an accountant
It is important to be able to manage the finances of the business accurately to ensure that the home-owned business will be successful and continue to provide its services to its market.
For that reason, it is encouraged to hire an accountant from the start of the business. Accountants have a better understanding of how a business should manage its finances, and they will be able to provide and equip the business owner with the most logical financial solutions for their business.
Additionally, an accountant will be able to draw a financial plan for the business, assign a budget based on the profits and savings, and manage financial operations.
D) Have a separate bank account for your solar panel distribution business
When starting a business from home, it is important to distinguish between the costs of the business and personal costs.
Distinguishing between personal finance and business finance allows individuals to be able to set up a budget for their costs, review their spending, and figure out whether they are making profits or losses from their home-owned business.
E) Have a private office for your business
When it comes to selling solar panels from home, during the agreement, the seller will have numerous calls with the homeowner who is thinking of installing solar panels.
To have uninterrupted business calls, it is crucial to have a separate area dedicated to the business’s operations. Having a separate office also helps you to split between work and home life - sometimes, as many of us know from the pandemic, this can be difficult.
In a nutshell, starting a business from home is a good way to do something that an individual loves. Becoming a solar panel distributor from home is a great way to save costs, work whenever is convenient, and have more freedom than a regular job.
However, it is important to become an authorized distributor to be seen as a trusted distributor, write an effective business strategy, work with an accountant to have well-financed operations, and a good marketing plan - which is mostly based on digital and social media marketing, and good communication skills.
And remember, starting a business, especially in the early stages, is a big commitment and a lot of work. Be prepared!