The idea of the American Dream is that anyone, no matter their race, orientation, gender, or class, can come to this country and be whatever they want to be. With a twist of fate and the know-how to navigate the markets successfully, the poor can make a killing and become rich.
Unfortunately, most of us already know that this notion of the American Dream, if it was ever real, isn’t any longer. The reality is that most of us are told from elementary school that we can be whatever we want, only to realize as we graduate from high school or college that the real world is a cold, dark, and merciless place; one that will swallow us if we don’t grab ahold of the nearest support (usually a garbage job that we have no intention of making our career) and hold on for dear life. The years go on, the bills are barely paid, and we stay at our terrible, low-paying jobs, just trying to make enough to make our dreams come true.
Fortunately, the pandemic has created a window of opportunity for those of us who have found ourselves stuck in this situation. With thousands of Americans going into business for themselves in the wake of a labor shortage, we are experiencing a period where (for the first time in a long time) we can truly make ourselves into whatever we want. If you’re looking to go into business for yourself and enter a viable industry with a fair amount of job security, you can’t do better than Starting Your Own Business as a Contractor. Starting your own construction company is hard work, but for those who choose this path and follow the correct steps, they will be able to make a killing as time goes on; Construction workers and contractors will always be needed, after all, and especially in the wake of the pandemic.
Without further ado, let’s talk about some fundamental actions you can take to get your construction business off the ground.
Get Your Contractor’s License and Register With the State
Before you start hiring workers and trying to pick up jobs, you’ll need first to get your contractor’s license and register your fledgling business with your home state. The requirements for obtaining a contractor’s license vary from state to state, so you’ll want to do some research on the specific guidelines for your home state, as well as any overlap between your home state and others you may want to pick up work in.
Some states work with others to allow for the validity of your license in their territory as well, allowing for you to expand the overall reach of your company. You might want to consider taking online courses to help you get your contractor’s license, as online education programs tend to have flexible scheduling, which can be very helpful as you continue to work your day job and prepare to transition to owning a small business.
Obtain Essential Equipment – Buy Used if Possible
Whether you’re Starting Your Own Business as a Contractor or your company has been around for a while, you will need certain pieces of heavy machinery on hand to help you complete a variety of jobs. Bulldozers and excavators are absolute musts onsite, as well as a backhoe, which will be your most versatile piece of equipment.
These are the fundamental machines you’ll need as they’ll be required for nearly every job, but these three machines are not necessarily all you’ll need; As you take on other jobs later in your career, you’ll likely need machines such as graders, tower cranes, and trenchers as well. While purchasing these machines will require no small investment on your part, you want to mitigate the costs as much as possible (especially early on), so consider buying your first machines used. After your company establishes itself as a competitor in the area, you can splurge on new and more varied bits of equipment.
Getting the required licensing and tools should prepare you to move into the market flawlessly, although you should also consider getting the necessary insurance and collateral bonds, to ensure you’re protected if something should happen on site. Once you’ve done all the work to lay the foundation for your business, it’s just a matter of accepting jobs and making a name for yourself, one well-built project at a time.