So, you’ve decided you want to go out on your own and start a concrete contractor business. This is one of the best decisions you can make, especially if you are eager to expand the possibilities for you and your family. It is a lot of work to start a business, but if you follow these steps and plan accordingly, you will have a great shot at being successful.
The construction niche is one that has consistently grown over the past few years. There is always a strong demand for skilled operators in this industry. As more and more people look at home improvement projects for their home and more demand for housing continues, it is a wise decision to open up your own business.
Create a Business Plan
The first thing you need to do when thinking about opening up your own concrete contractor business is create a business plan. There are many people who jump right in and skip this important part of the startup process. Don’t let that be you.
A business plan helps you think through every aspect of your business, from ideal customers, to product offerings, to marketing, to much more. This helps you tackle whatever comes your way and keeps you focused as you get busy and in danger of becoming overwhelmed. Some of the simple questions you want to answer are:
- Will you focus on residential concrete work, commercial concrete or both?
- What service offerings will you make available?
- Will you specialize in a specific service?
- Which areas will you serve?
There are a lot of resources online and at your local small business association that can help you create a great business plan.
Make it Official
In order to get started, it’s important that you make everything official by filing the correct paperwork in your city/state. Because the construction industry is regulated, you must have permission from your state in order to perform concrete jobs. Make it a priority to stay compliant with this because being certified and licensed lends credibility to your business.
AS with any business, it will be important to get the proper insurance. Workers compensation is a must. You want to protect yourself and your employees from liability in case anything goes wrong on one of the jobs. But, you’ll also want to get general liability insurance to cover any potential damage to the job site or to cover in case of personal injury.
Aside from liability insurance, you will need to get auto insurance that covers your business and all of your employees.
As consumers get more and more savvy, they are looking for contractors that are professional and conscientious, so having proof that you are covered in case of a problem can be a huge selling point. It’s a good idea to do research on the type of insurance that will be most appropriate for your business. You can also consult with your insurance agent to ensure you get everything you need.
Another thing you want to get clear about is how you will market your business. While there are plenty of things you can bootstrap such as setting up your online social media accounts and placing simple ads or posts online, putting together a solid marketing plan is important for continual growth and automation of this important component of your business. Being a referral only business takes time to establish and also takes a lot of time to do. It is a good idea to prepare to put some work and investment into marketing at the outset, if you have the money to do so.
Materials and Tools
Take the time to invest in the tools you will need to do your work. Being prepared and having the proper tools for your crew will help you complete jobs in a timely manner and reduce the time wasted scrambling before each job. Connect with your contacts in the industry and create partnerships with suppliers as well. Having these partnerships established will help you keep everything running seamlessly when you’re busy working multiple jobs a week.
Starting a concrete business doesn’t require a big upfront investment, but it does require careful planning in order to ensure continued growth and long-term success.