Building Your Construction Business To Be As Safe As Houses

While most people who are considering the bright lights of self employment think about the freelancing, consulting or small services realms, there’s nothing to say that you cannot take a foray into the world of construction. If you are a highly skilled tradesperson, you’ve been working on building sites for years, and you know a few things about leadership and management, then why not branch out on your own. Being the foreman and project managing construction sites so that they run like well oiled machines is a real talent that requires exceptional organizational skills. If you think that you have what it takes, read on to find out the key things you must consider.

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Legislation

The most important aspect of your business planning will be legislation. Construction is heavily licenced and legislated for obvious reasons. The dangers of working in hazardous environments and with heavy machinery require an element of health and safety provision. Ensure that you have the relevant permits, surety bonds and insurances required to operate legally.

When you consider your health and safety plans, make sure that you set up training sessions for your staff. Ensure that every single person on site is following the same protocol and demand to see evidence of relevant certification. If you are working at height, make sure that you invest in safety railings, warning signage and adequate safety scaffolding. Your sites need to earn a reputation for being safe and well managed so ensure that you have given enough emphasis to this within your business plan.

Funding

As with any business, you need to ensure that you have enough startup funding to launch your startup. You could choose to go to your bank manager and pitch the qualities of your construction firm to him or her. Or you may choose to source a business angel who can aid you financially as well as with their industry contacts and knowledge. Either way, you must create a presentation that convinces them of the worthiness of your business plan. Ensure that you know your financial figures inside out. You must know your gross and net profit forecast for at least the next three years and consider the risks you might face and how you will mitigate them.

It’s vital you have enough cash flow and initial funding before you launch. Without a buoyant cash flow, you may find that your supply chain stalls and jobs don’t get completed.

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Make Contacts Now

If you are already working on building sites, start networking. Get to know the best plumbers, electricians, tilers, decorators and gas engineers. Tell them that you are looking for a well organized and flexible team to complete work to a high standard. If they are busy, then you know they are good! Take their details and hit the ground running when you are working on your first construction project.

Working in a field that you love is a luxury. Ensure that you set your construction company up the right way so that it is as safe as houses.

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