By Monica Peña
Are you wanting to start a business in the construction industry, but don’t know where to begin? Whether you specialize in flooring, remodeling, painting, or roofing, below are helpful tips to successfully launch the company.
- Get experience. If you have not already worked for a construction business, there are many aspects of the business that you may not have considered. Industry rules related to areas from permits, licensing, contracts to customer service can be less straight forward than anticipated.
- Register the business. Registering your business establishes it as a legal entity which helps the owner have limited personal liability, receive funding, and create a brand that is recognizable to potential customers.
- Create a business plan. A business plan can help with all aspects of your start up from potential problems, pricing to explaining the concept for your business. It is a road map to the success of your business.
- Fund your business. Figure out a budget and how the construction business will be financed. How will material and labor be paid for? How and when will payments on projects be received?
- Decide on the niche of the company. Choose the specialty of the work whether projects are commercial, residential, or government contracts. Determine certain area of Austin or surrounding towns that the business will concentrate.
- Build a marketing plan. This includes creating a strong brand with name, logo, and figuring out how to communicate the niche of the company. Design a plan to communicate with potential clients, customers, and territories.
- Take advantage of resources available for your new business. EGBI provides training, coaching, and support to aspiring and existing business owners who face barriers to growing a successful business. Staff helps connect business owners with different business tools and outside resources.
Contact us to meet with a business coach that can help guide you through your small business journey. To get started, register HERE.