![]() ![]() What legal, trade, and regulatory requirements will you need to meet and adhere to?.Who are your customers? Who will you be marketing to, and who will be paying you for your services?.Where are there opportunities for a new business to grow and succeed?.What is the current construction company landscape in your area? Who are the major players?.What are your skills, and what field do you want to go into?.Throughout this startup guide, we’ll discuss each in more detail. Here are factors you’ll need to consider when deciding the scope and niche of your construction company. Industrial: typically includes mills, power generation, refineries, chemical plants, and manufacturing facilities.Infrastructure: also known as heavy engineering, heavy/highway, or heavy civil, and usually encompasses large-scale public works projects, highways, roads, bridges, dams, utilities, and water/wastewater systems.Buildings: residential and non-residential (including institutional and commercial).Typically, the industry is considered to have three main sectors: You can build a construction company that is as big and broad or as narrow and specialized as you want. ![]() How will you start your construction company?įor starters, let’s break down what it means to be a construction company. Bureau of Labor Statistics, employed an estimated 5.8 million in 2013-and the average firm had fewer than 10 employees.Ĭonstruction companies have their ups and downs (for example, the economic crisis of 2008 hit construction firms hard), but it’s an industry that will always have demand-and where there’s demand, there’s opportunity. Census Bureau, in 2014, the construction industry as a whole generated $960 billion in annual revenue, and according to the U.S. In developed countries such as the U.S., Canada, and the U.K., the construction industry usually generates six to nine percent of gross domestic product (GDP). Whether for a residence, commercial use, industry, or public works, someone has to build the buildings, roads, and systems we all use in our daily lives. In fact, many fast-growing small businesses are connected to construction, such as finishing contractors (e.g., drywall, flooring, and painting), utility systems construction (e.g., water, sewer, oil, gas, and electricity), and structural construction (e.g., concrete, roofing, and siding). Small Business Administration (SBA) have pointed out, construction is a high-growth industry right now and is expected to remain strong for years to come. But once you have a solid construction company business plan and know the direction you want to take, you can start your own construction business.Īs Forbes, Abrigo’s ProfitCents, and the U.S. Yes, there are licenses to apply for, equipment to buy, and maybe even training you’ll need to complete. Whether you want to be your area’s next big general contractor, or you believe you can build a successful small construction company in a specific niche, getting into the construction business is a process.īut fear not. This article is part of our Construction Business Startup Guide-a curated list of articles to help you plan, start, and grow your construction business! ![]()
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