Build a foundation.
Make it official. Create a legal structure for your business that works for you. Run the numbers on how each structure will impact your taxes and finances, then choose one.
Register your business. Visit the website of the U.S. Small Business Administration to register your business and find out if you need any permits or licenses before you start work.
Get it in writing. Once you’ve started working with clients, protect yourself and them by establishing contracts that clearly state what each party is responsible for and agree to pay, as well as when payments are due—and what happens if a deadline is missed or something doesn’t turn out as expected (within reason).
Choose your specialty.
You should choose a specialty in which you have a passion, or in which there is a great deal of demand. For example, if you are passionate about building cabinets and furniture, then you may decide to specialize in home construction. On the other hand, if you have less passion for carpentry than for plumbing or masonry, perhaps this is an area in which you can be more competitive.
Every business has competition and it’s your job to ensure that your company stands out above the rest. Whether it’s through better branding or greater efficiency, finding some facet of your business on which to stake a claim will not only make it easier to find work but also bring customers who want what only you can provide.
Get 2 years of experience.
As with any other field, experience is of the utmost importance in construction. To get started as a contractor, you need to understand building codes and standards, know how to read blueprints, understand how to obtain permits, and be well-versed in safety standards. There are various ways that you can gain this knowledge: trade school (2-year degree), apprenticeship (2-4 years), and working for a company (2+ years). Each of these options provides you with the skills needed to start your own construction business.
Join a trade organization.
There are many trade organizations that can help you connect with others in your industry. Check with your local trade organization for requirements, but here are a few benefits of joining one:
You will learn about new opportunities for your business.
You will find out about networking opportunities.
You will find out about training opportunities.
You will find out about business opportunities.
You will find out about potential jobs in the future (and be able to get them first).
Network your business.
Now that you’ve got business cards, a website and everything else you need, it’s time to start prospecting for clients. The best way to find clients is through a combination of marketing and referrals from previous customers. To get the word out about your services, distribute flyers in your local area letting people know about your company and its capabilities. You can also post on social media; apps like Facebook have business pages where you can advertise services. In addition to direct advertising, referrals are essential for finding new clients. Ask everyone who works with you or those that hire you if they could refer someone else who might need the same service.
You can achieve your dream to build with these five steps
Figure out what type of business you want to have and get your license. Do you want a general contractor’s license, a specialty contractor’s license, or a subcontractor’s license? After figuring that out and getting your business license (this is required, to prove that your business is legitimate), you’ll need to get your contractor’s license—which will require testing and proof of experience. The last step in this section may be the most difficult: You’ll need to get some insurance. This can feel daunting if you’re just starting out, but it may also be one of the most important steps because it will help protect you if there are unexpectedly high costs during a job or litigation due to accidents. If you’re ready for this expense then congratulations—you’ve passed one of the biggest hurdles!
Get bonded. Bonding is an insurance-like process that helps protect property owners against fraud, theft, or any other issues arising from contractors during the course of their work on the property owner’s project site(s). Once bonded through an agency like SuretyBonds.com , contractors have access to more job opportunities at better rates than those who don’t have this protection from malpractice risk/losses incurred by themselves as well as their clients/customers..