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If you like to work with your hands and have a knack for construction, you’ve probably looked into various construction careers. You can work for private contracting firms, for the city, or as an independent contractor.
But why think on such a small scale? Why not create your own construction company?
While this route won’t be easy, it will be the most rewarding. But how do you start a new construction business from scratch? Where do you even begin?
We are here to provide a little guidance. So keep reading for a brief guide on how to dive into the construction industry.
Get Licensed and Certified
First and foremost, you need to get licensed to become a legitimate contractor. We suggest starting with a general contractor’s license. Then, you can look into other specialties, such as electrical work, plumbing, etc.
Without the proper certifications, you won’t be able to attract customers or operate legally in your state.
Create a Professional Business Plan
To start a new construction business from the ground up, you’ll need to write a business plan. This plan should be based on extensive marketing research. First, you need to know more about the local construction industry.
Seek to answer essential questions that will impact the success and future of your construction company. For example:
- How many other construction businesses are in your area?
- Who are your biggest competitors?
- Is there a niche in the construction industry you could fill to secure your success?
- What types of equipment, tools, and machinery do you need?
- What will be your monthly costs of operation?
- How much money do you need to get started?
- Etc.
Write a professional business plan based on the market analysis that you can present to investors or lenders. The quality of your business plan will directly affect your ability to get funding.
Seek Startup Funding
You can’t start a new construction business without funding. You’ll need money to rent or buy a commercial building, tools, equipment, and machinery.
We suggest applying for a traditional small business loan backed by the SBA. However, if you can’t get approved through your bank for a business loan, there are other options.
For example, you can use crowdfunding agencies to get a collection of donations to your cause. You can also seek out private investors, angel investors, and investor groups. Alternatively, consider bringing on a business partner who has the financial means to fund the business.
Develop a Marketing Strategy
Finally, if you want your construction firm to succeed, you have to implement an effective marketing strategy. People in your community can’t hire your new construction business if they don’t know it exists. Start with a professionally designed website and local SEO Miami. Then, increase your online presence through social media and various online advertising techniques like PPC, content marketing, and email marketing.
Start with a professionally designed website and local SEO. Then, increase your online presence through social media and various online advertising techniques like PPC, content marketing, and email marketing.
Finally, invest in CostCertified Software to help you provide accurate estimates for prospective projects. Providing people with quick, free, and accurate quotes will help you get your foot in the door with potential customers.
Ready to Start Your New Construction Business?
Do you want to become a small business owner? Do you want your new construction business to be a success?
If so, follow our guide to ensure you’re doing things right. And remember, when it comes to business ownership, you can never know too much. Continue to research and learn about your trade, marketing, and business management.
Check out some of our other articles before you go to find more helpful information. Our blog was created to help small business owners like you thrive in a competitive business world.
You may also like: Running Your Construction Business Properly: Top Tips
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