How to Become an Independent Field Service Contractor

In recent discussions with customers, we have seen a trend toward creating a blended workforce of in-house and contract field service engineers.

In our discussions with field service engineers, we’ve heard that retiring workers are looking for more flexibility which leads them to consider starting their own businesses. Based on these insights we have collected some great first steps to get the ball rolling.

5 steps to becoming an independent field service contractor in 2024 

1. Pour a foundation

Setting up your business requires careful planning and organization. Here is how to lay a solid foundation as a field service contractor:

Financial management: 

Start by choosing the right business structure and implementing efficient systems for managing expenses and income. Consider using purpose-built finance software that offers guidance on taxes and insurance.

In addition, allocate funds for taxes, insurance, and other hidden costs. Tools that can assist with time tracking and invoicing are a must for field service contractors. Ensuring that you stay on top of your finances from day one is the foundation you need.

2. Define a brand

The joy of starting a company is partly found in defining a brand: choosing colors, a logo, and taglines that will be the first things that customers see and will end up on uniforms, business cards, websites, and decals on trucks.

However, working with designers can be costly and time-consuming. A great place to start is with Fiverr or Behance, where you can connect with a designer for a low introductory cost and get first iterations for your business. For people with creative prowess, take the brand guidelines and start building.

3. Diversify demand opportunities

To sustain long-term success, it’s crucial to diversify your client base. Here’s how to expand your opportunities:

One of the main steps includes forming a great relationship with your previous employer and registering on marketplaces where companies are able to hire vetted professionals for their needs. This is usually not enough, unfortunately, to mitigate risk you will need to diversify demand streams among multiple customers. This reduces the impact of losing an individual customer to budget cuts, changes in business strategy, or other factors.

4. Foster a community

Running a business can oftentimes be a lonely activity but building a network of like-minded professionals with whom to share ideas, talk through challenges, and decompress is very important.

Finding the right groups can be daunting, but there are many places to look, including existing social networks like Facebook and LinkedIn and more specialty, sites such as Meetup. In addition, there are industry-specific networks, like Tradehounds, a community environment specifically built for trade craftsmen.

5. Keep learning

After delivering a great customer experience, completing administrative tasks, and spending time with family, a new business owner may have little time or energy to stay informed of technology trends and industry best practices.

Here we recommend making the most of your time, especially during travel or downtime, by consuming educational content. Utilize podcasts, audiobooks, and online courses to stay informed about industry trends and best practices. Try to dedicate regular time each month to learning and skill development.

These are just a few of the first steps that would-be independent field service engineers should consider when starting their business.

Ultimately, the technology that you use to manage your field service operations will make the difference in the efficiency of your day-to-day and the satisfaction of your clients. ServiceMax is a great solution for all business types, including yours. Learn more about our field service management solution and get in contact with our team to see how we can help you today.