Construction Business Ideas
Is your locality on the fast track towards progress? Are there opportunities for you to start an engineering business in your place? What are the needs and demands of starting a construction firm? What types of engineering business can you start? Find the answers to these questions from our guide.
No city or town ever stays the same. Every place is always undergoing some form of development. The most obvious signs of development in an area are ongoing constructions of highways, communication lines, subdivisions and shopping malls.
Such developments give rise to opportunities for people to engage in business meeting the demand for construction services of the locality. If you are planning to enter into this field, here is a basic guide:
- You would need licenses to operate a construction business. You would need a professional license that would require some degree in engineering. You would also need licenses for the construction work you would have to undertake even for plumbing, and installation of storage tanks. Check with your states about the requirements needed to obtain a license.
- You would need significant investment for heavy equipment. The size of your investment would depend on whether you want to become a large contractor or a small one specializing on a certain area of expertise. For earth-moving, road making and construction machinery and equipment (trade), visit www.kompass-usa.com
- Managing people is one of your main tasks. You would have to deal with payroll, taxes and labor laws.
- The safety of your workers and of people who are subject to construction hazards would be on top of your concerns. You have to put in place safety programs that would prevent slips and falloffs and accidents that could happen to passers-by and motorists.
- Work is on a contract basis. Some projects are secured through biddings. Payments could take some time to arrive.
- You have to work hard to establish and keep your reputation. You must see through that your work is of quality from start to finish, on time and within budget; and your clients pleased with your service.
- Liability insurance is a necessity. You never know when accidents would happen to your workers, to passersby and motorists. You would need protection from possibilities liabilities arising from injury or death or damage to properties.
What Engineering Businesses You Can Start
Miscellaneous Engineering Business – you can start small specializing in the repair of cracks in concrete, cement, block, or in home improvement, or installation and design of popular outdoor support structures, gutters, sidings, among others. The challenge in this is keeping the contracts coming so that you can regularly pay yourself and your workers. One of the hardest realities for a small business is you never really know when is payday. Your invoices can be paid in weeks or months. Find construction materials and tools for home builders and remodelers at www.ebuild.com.
Utility Line Construction Business – you can work on installing water, sewer mains, drainage, flood control facilities and gas pipelines; communication lines, including traffic signals and street lightings; power and transmission lines. This industry is greatly affected by regulatory policies, tax laws, consumer spending and government budget.
Roadways Construction Business – you can either operate as a large company doing large projects like interstate highways, or a small one specializing in making roadways for commercial and residential projects.