Demand for housing outstrips supply in most areas. The resultant building boom has brought significant opportunities for general contractors to get in on the action and profit from it. This comes in addition to homeowners undertaking repairs and renovations on existing homes.
As it stands, it is a great time to own a general contracting business. However, there is fierce competition. Here are ways that general contractors can ensure they ride the wave of the current housing boom.
Insurance
By law, general contractors must have insurance to obtain the necessary licenses and permits to operate their business. Owners should understand what general liability insurance covers, investigating their options by requesting a quotation from Contractors Liability. This insurance type comes at reasonable rates and covers the contractor, employees, and assets.
Attempting to operate a general contractor business without insurance is a recipe for disaster. Most clients, like property development companies, insist on insurance proof before committing to hiring a general contractor. Contractors without insurance pose a risk to the developer, and they are unlikely to be taken on. Even homeowners undertaking repairs or renovations are smart enough to insist that their general contractor has the relevant insurance.
Reputation
A general contracting business is only as good as its reputation. Too many horror stories of contractors who performed poorly and left customers in the lurch make developers and homeowners cautious about who they hire.
Consequently, a contractor with an excellent reputation is likely to get the job. An established reputation also ensures that potential customers understand that this is not some fly-by-night company.
An online presence with customer ratings and reviews helps to build a solid reputation. Not all reviews will be glowing and positive. However, when potential customers look at how contractors deal with those unsatisfied clients, they understand the commitment to customer service and rectifying problems. This makes a contractor a reliable prospect for them to hand a project to.
Marketing
Contractors need to make their presence in the market known by undertaking marketing efforts to raise awareness. Today, most marketing takes place on digital platforms. Therefore, contractors should ensure they have a navigable website and publish meaningful content in their blogs.
This should include SEO (search engine optimization) keywords to help attract potential customers to the site when they do online searches. Local SEO is critical as most developers and homeowners look for contractors working in their area.
Another valuable necessity is a social media presence that people will see on their timeline or newsfeed on social media. Always link posts to the website to allow customers to see evidence of previous work and reassurance that this contractor is capable and willing to do the job properly.
Keeping promises
General contractors face challenges when setting deadlines for the completion of work. So many things can go wrong, including inclement weather and underlying problems that make the job longer. It can be frustrating for the contractor and their client.
However, contractors should set realistic deadlines for job completion, factoring in a few lost days for unforeseen emergencies. Sticking to promises about job completion adds to a contractor’s solid reputation, making others likely to hire them.
Expertise
People hire contractors because they cannot manage a task themselves. They need to trust their contractor to get the job done properly. Building trust is a vital component of becoming an established contractor that developers and homeowners want to hire.
To persuade clients to engage their services, contractors should have the necessary expertise and experience to deliver their promises. They should make information about their qualifications and experience available to clients, including showing them a portfolio of previous projects.
