Once you fall in love with the idea of running your own small business, it's nearly impossible to get the idea out of your mind. There are many kinds of small businesses you can open, and many people opt to go into residential construction.
Residential construction contractors are the ultimate handyman. They can fix just about anything, do restoration projects, or even build a home. Think about how you'd like to use your skills to better identify which niche in residential construction is right for you.
After you know what you want to do, it's time to jump right in. Read on to learn how to get into residential construction the right way, so you can start a business that will last as long as you want to work.
Check Your Local Government
You may have seen some of your friends or family members start their own businesses. Tons of people make a name for themselves online, which can be done in just a few minutes.
While it's important to have an online presence for your business, you'll have to consider local laws first. Residential contracting is different from other startups you may have seen people create.
Unfortunately, there isn't one certification you can get to make you an official contractor. The laws are different in each state, which is why you'll want to check the Contractor's License Reference Site to see what your state dictates. Colorado is an example of a state where there's no licensure required of contractors. Virginia, however, requires a license or certificate to be presented by the Virginia Board of Contractors.
Learn Code Standards
General residential contractors are called out to sites for a variety of reasons, which is why you should review code standards for all tradesmen. That means learning the basics about plumbing, electrical wiring, carpentry and HVAC systems.
Learning these trades will help you when you need to determine if your work has been waterproofed correctly, for example, or whether an addition will be too much for the existing structure to handle.
Invest in Good Equipment
Using the best equipment is part of what's going to make your contracting work a success. Not all residential contractors can afford brand-new equipment when they first start out, but that's actually okay.
Heavy equipment depreciates quickly, so it's often priced at around 50 percent of its value when rental units are made available to the public. You can easily find the right equipment you need for a rental price that works for you. Plus, some construction machinery — like skid steers — includes attachments that make one piece of equipment work for multiple purposes.
Once you bring that equipment home, you need to know how to take care of it. Make sure you protect your investment with preventative maintenance and scheduled repairs. And don't forget that there are lots of parts to monitor, including the tires. Mindful behavior will help you get a favorable lifespan out of used equipment.
Prep for Your Team
Do you see yourself taking on large residential projects? You may end up needing to hire a team if you imagine your business expanding. That means there's some preparation you'll have to do so they look forward to coming to work every day.
Brush up on your management skills before hiring anyone. You'll want to be approachable while still being respected as the team leader. As much as you may want your team members to be your friends, you'll have to get used to thinking of them as your employees.
Hiring people will also affect your budget, so don't forget to adjust that as needed for the number of people you'll hire.
Know How to Market
The last thing you'll have to do is market your business, which will be the most crucial part of making your residential contracting experience a success. Use social media to your advantage by creating profiles online and developing them every day.
Network with other businesses in the area that may be willing to refer you. All these steps will launch your contracting business successfully, so you can get started on doing the work that you love.
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