Starting your own business in the trades such as construction, electrician and plumber can both difficult and rewarding. You will be able to set your own hours, build your retirement and even help your community. There are some things that you should keep in mind before you get started, however, such as certifications and legalities as well as equipment and headquarters locations.
Certifications and Equipment
Having the right certifications and equipment is a big part of getting your company started and should feature prominently in both your business plan and your initial research because without the right certifications you cannot legally run your company and without the equipment, you cannot do the job.
Sometimes, it will be cheaper to rent equipment instead of purchase it, but you will still want to check the terms of the lease for your responsibilities before you sign so you can have all the parts on hand that you need. For instance, if the high pressure hydraulic shaft seals go out on your excavator, then that machinery will be unable to work until they are replaced.
Headquarters and Legalities
After you have researched your certifications and equipment, it is a good idea to find a place to headquarter your company. In construction, you will be working on-site most of the time, but you will still need a home base to store vehicles, supplies and equipment as well as a phone number and address for customers to get a hold of you.
Researching what types of insurance, which licenses and even the zoning of your preferred headquarters is a good way to avoid legal issues before you get started. You will also want to consult with an attorney to make sure that you have remembered everything and to go over any heavy equipment leases you are thinking of signing.
Starting your own construction business means a lot of initial research to help build your business plan. This can show you how much you will need for financing, which locations are the best to place your headquarters and even how to save money by leasing equipment.