There are many reasons why you might want to start a general contracting business. For one, it can be a great way to be your own boss and earn a good income. If you’re skilled in the construction trade and have experience managing projects, then starting your own business can be a great option.
Another reason to consider starting a general contracting business is that you’ll have the opportunity to work on a variety of different types of projects. As a general contractor, you could work on residential, commercial, or industrial projects. This means that you could work on everything from building houses to constructing office buildings.
If you’re thinking about starting a general contracting business, then there are a few things you need to know before getting started. In the next section, we’ll cover what you need to do in order to start your business.
Starting Your General Contracting Business
There are a few steps you need to take in order to start your general contracting business:
- Obtain a contractor license
A general contractor is in charge of all parts of a building project, whether it’s an addition to a house or a brand-new office building. You need to know how to design, how to build, how to make a budget, and what the building codes are.
So, you can’t just put up a sign and call yourself a general contractor. All 50 states require general contractors to have a license, but the exact requirements to become one vary from state to state.
- Purchase insurance and bonding
Almost all small businesses, but especially general contractors, should have business insurance. General contracting businesses should definitely get general liability insurance. You might also want to get workers’ compensation insurance or a business owner’s policy (BOP), which gives you insurance for a wide range of situations.
- Create a marketing plan to get clients
Marketing for general contractors can look a little different. Your business is based on trust. Your customers have to believe that you have the skills and honesty to get the job done on time, on budget, and with a high level of quality and attention to detail. So, word-of-mouth marketing helps contractors more than many other businesses.
How to Be Successful as a General Contractor
In order to be successful as a general contractor, there are a few things you need to do. First, you need to provide quality workmanship on every project. This means that you need to be detail-oriented and make sure that every aspect of the project is up to code.
Second, you need to develop good relationships with your clients. This means being communicative and keeping them updated on the status of their project. Third, you need to be organized and efficient in your work. This means creating a schedule and sticking to it.
Finally, you need to always be marketing your business. This means networking and advertising to get new clients.
Tips for Marketing Your General Contracting Business
There are a few tips you can follow to market your general contracting business:
- You should create a website that showcases your work. Be sure to include testimonials from satisfied clients.
- You should network with other professionals in the construction industry. Attend trade shows and events, and join professional organizations.
- You should advertise in local publications. This will help you reach potential clients who are looking for a general contractor.
By following these marketing tips, you’ll be able to get more clients and grow your business.
FAQs About Starting a General Contracting Business
- Do I need a contractor license to start my business?
Yes, most states require that you have a contractor license in order to start a general contracting business.
- How much does it cost to start a general contracting business?
The cost of starting a general contracting business will vary depending on your state and the type of insurance and bonding you purchase. However, you can expect to spend a few thousand dollars to get started.
- How can I get new clients for my general contracting business?
There are a few ways to get new clients for your general contracting business. You can create a website, network with other professionals, or advertise in local publications.