The building trade is a great industry for people who have lots of practical skills and love construction. However, as a business, building companies have a little more to think about than onsite practicalities.
For a start, you will need to learn how to quote a job accurately, the types of insurance you will need to protect yourself, your colleagues and your business itself and you will also need to find partner businesses to complement your skills.
Here’s what you need to know before you get started.
How to Quote a Building Job
Quoting for work when you are just starting out is one of the most difficult aspects of business. Whether you are a baker or a builder you need to have a good idea of what your own costs are as well as what your time is worth in order to figure out what a suitable and competitive quote might be.
Researching what other companies quote will also help you to figure out whether your own prices are competitive and you may be able to find ways to cut down on costs, therefore increasing your profit. Many customers are now looking for builders who will provide them with a fixed cost construction, so do consider offering this service too. However, don’t be too ambitious with your timetable – be realistic about how long a project will take before you start quoting.
What Sort of Insurance Do You Need?
All businesses need some insurance in one form or another and there are a few common types of business insurance you may need too. For example, you will need buildings and contents insurance for your offices, auto insurance if you have a fleet of cars or other vehicles. Insurance is a vital security net for your business, so don’t be tempted to cut out insurance to save now – you could easily end up paying significantly larger sums down the line as a consequence.
As a construction company, though, you are best advised to speak to a specialist in construction insurance such as Poms & Associates construction insurance agency. They will be able to look at you particular needs as a business and create a tailored package to ensure that you have everything you need and nothing you don’t.
Who Can You Work With on Site
A lot of the time, you won’t just be working on a site alone. Other contractors will be working around you trying to do their bit of the project too. This means that often, construction companies are asked to recommend other reliable companies to bring on board.
The advantage for you is that, over time, you will be able to develop strong working relationships with people from other companies and be able to utilize their skills sets too. For example, if you are building a house, you may get to know a particularly good electrician. Once you have built up your relationship, you might find that you both send work to each other and mutually benefit from your relationship.