So, you’ve constructed your house for the first time – all on your own. And you want to take your passion for construction one step further by starting your own construction business.
But does this make sense?
If you have the skills and experience in the industry, you can dive into the world of construction easily. However, don’t forget that constructing a house for someone else involves a high level of responsibility and careful planning.
Plus, as a small construction business owner, you should prove yourself as an independent contractor so you can earn maximum confidence from your clients.
Have that spark but not sure how to begin?
Let’s explore the basic steps.
Come Up With A Business Plan
In this document, specify your business objectives and list the methods through which you’ll accomplish those objectives. Also, write about the following sections:
- The expected revenue, costs, and profitability you’re expecting from the upcoming construction projects
- Your predicted clientele
- The tools, supplies, and equipment required
- Your advertising plans
By compiling the business plan and getting it in print, you’ll be able to show it to the investors. If any of the investors see a considerable level of feasibility in your business plan, they might agree to provide adequate funds for your business.
Register Your Business
Check with the local government and inquire about the regulations that govern construction startups. This way, you can find out why you should register your business, how to qualify for your business license, and if you’re required to pay a certain amount of fees to get the certification and license.
If your potential clients want to check the credibility of your business, they can easily visit https://www.secstates.com/DE_Delaware_Secretary_of_State_Corporation_Search and see if your business name is registered or not. If it’s registered, there are higher chances that they might consider your company for their construction project.
Develop A Team
Once your business is registered, it’s time to hire the best talent so you can flawlessly complete all construction projects and get an edge over your competitors.
Your team will most likely include the following staff:
- An experienced assistant who can buy construction materials on your behalf
- A group of skilled construction workers who have successfully completed various construction projects and osha 10 hr training
Get The Right Equipment
Trucks, generators, screw guns, extension cords, ladders, backhoe loaders, raw materials, and skill saws are a few of the essentials you can’t imagine working without. Even if you have a construction team, your efforts may go in vain if any of the construction equipment doesn’t meet specific standards.
Make an inventory of the equipment and tools. If you already have the equipment but it requires repair, get it serviced.
To ensure the highest performance of each equipment, make a list of each tool and write about its condition, rental value, and maintenance schedule. If any equipment needs replacement, consult ICON for more information.
Market Your Business And Build A Portfolio
Now that you’re ready to take on your first construction project, it’s time to market your business. Since you’re new in this industry, chances are most people don’t know you as a contractor. Therefore, begin to attract clients through word-of-mouth.
Talk to your family, friends, and colleagues about your newly formed construction company and ask them to spread the word. Personal recommendations will help persuade homeowners to give you a few construction tasks.
If you’re able to perform even a few of these tasks efficiently, you can add this experience to your company profile. The next time you seek new clients, you’ll have a short portfolio of your work to show them.
