Whether you are building bathrooms or installing new roofs, starting and growing your own contracting business is not a quick or easy thing to do. Not only do you need the skills and experience of the trade, but you also need to be able to wear a business hat so you can get yourself up and running. Starting a business involves a lot of work. This includes research, setting up your business structure, sourcing suppliers of equipment, working out your budget, equipping yourself with the right hardware, software and tools, hiring staff, outsourcing work, finding customers, launching your business, marketing your business and much more. It might be something you plan to start alone, or you may seek support from professionals or others in the industry. To help you on your journey, here are 3 important things you need to know to help you start and grow a contractor business.
By Team Savant
Image: Ernie Journeys
Create a Business Plan
A business plan is the first and most important thing you need to create when starting a contractor business. This will help you do all the research before you start your business, so you know what the market looks like, and what you need to do to get started and help you decide on all the important business decisions you need to get started and grow. Essentially, your business plan will act as a roadmap for your business. You will figure out who your customers are, what they need and how you can reach them. You will also plan out how your business model will look, what you need to get started and forecast your business growth. You should review and update your plan regularly, so you can see where you are, what action you need to take, and more. You can use the information in your business plan to register your business, apply for any funding and start marketing your business to attract customers.
Source Reliable Materials and Equipment
The quality of the materials and equipment you use will reflect on your business. You want to be using the most up-to-date, reliable and high quality equipment you can. From the machinery and vehicles you need, all the way to the sealants you use on your projects, such as the quality tape you can obtain from HS Butyl Ltd. When working on projects, you are likely going to use a variety of products such as sealants, tapes and other similar items. The last thing you want to do is use a cheap product that doesn’t work — as your work will be poor and your customers won’t be happy. This will not help you market or grow your business, as it can ruin your reputation.
Seek Support
There is nothing wrong with seeking support when you get started as a contractor. You may have the experience to do a good job, but starting and running a business is a whole new challenge. This might mean speaking with a business consultant, or it might mean outsourcing or hiring someone to help you with tasks such as accounting and marketing.
Starting and growing a contractor business is a challenge. Follow these top tips to help you hit the ground running!