Business Overview

The elevator industry continues to boom across the country as most public and many small commercial buildings are installing them to better accommodate their customers. Once established, the chance to continually provide service and maintenance for the life of the building can help create a self-sustaining business. The successful owner of an elevator business will be eager to take on a project using engineering, electrical, and business skills.

Who is this business right for?

The owner and operator of an elevator service business will have professional connections among the building trades, unions, city leaders, and state safety inspectional services. You will be highly motivated to continue to expand your area of influence while keeping all your current clients satisfied with your services.

What happens during a typical day at an elevator installation and repair service?

Your business will be the soup-to-nuts solution for everything related to an elevator from design to daily maintenance. On a daily basis your company will:

  • Work with general contractors creating the design for a new elevator
  • Install new elevators in active construction sites
  • Complete regular maintenance that ensures safe operation of elevators
  • Schedule repair appointments
  • Provide 24 hr. emergency response for mechanical failures
  • Coordinate annual safety inspections with state inspectors
  • Remain informed on changes regarding rules and regulations

What is the target market?

Any general contractor that is building apartment complexes, commercial buildings, or industrial complexes will need an elevator company.

How does an elevator installation and repair service make money?

Your clients pay a fee for annual maintenance and inspection. Emergency calls require an additional payment. The installation of a new elevator requires highly trained technicians that will earn the company a sizable payment for their work.

What is the growth potential for an elevator installation and repair service?

The beauty of an elevator business is that with each new elevator installed, you organically create a return client for the next 50 years. As time goes by, you can expect the need for additional repair technicians to increase. Expanding into neighboring markets becomes a real possibility.