Starting a small business is one of the best approach you can take, in order to become financially independent, especially in concrete construction industry as it is easy to start a small concrete business with limited amount of capital and workers.
In concrete construction industry, businesses like Full Throttle Concrete Constructions Murwillumbah use concrete to make all sorts of repairs including but not limited to repairing cracked sidewalks, foundations and driveways. Since, the demand for concrete contractors is growing, the competition in this industry is also getting tougher day by day, making it harder for new businesses to survive.
Therefore, here are some tips on how to start a successful business in concrete construction industry:
1. Identify the market
Before starting a concrete business, it is essential to identify the market you want to target as well as the products or services you want to sell. There are a lot of different markets in concrete industry such as pouring sidewalks, driveways, foundations, slabs as well as unique decorative concrete jobs. It is also important to decide what kind of customers you want to target as different people have different tastes in construction.
2. Plan to make a profit
Similar to the first point, identifying your market. It is advisable to make a proper plan beforehand including each and every detail, in order to make to a reasonable profit. First estimate the costs incurred in each job such as the costs for materials, equipment, supplies and wages. Secondly, decide how much money you want to charge for your services. However, do not charge higher than your rivals.
3. Obtain the proper licenses and insurance
Before operating as a concrete business, make sure to obtain all the necessary licenses and insurance required. Obtain a suitable business license from the state government and register the name of your business with them. Concrete industry requires new businesses to get various kinds of insurances such as commercial auto insurance, property insurance and general liability insurance. It is important to do so since potential clients will be attracted towards your business due to the insurance policies as well as cheap prices.
4. Find a source of supply for materials
As a small business, it is essential to cut your costs in order to survive. Hence, it is important to find a supplier who can provide all the required materials at low price. However, those materials may be low in quality for example some suppliers offer bags of cement mixed with sand and gravel. This approach may be correct for small projects but for bigger projects, make sure to use high quality materials.
5. Market your services
Creating a marketing plan is essential in order to get an edge over your competitors. You can either print ads in newspapers and print out flyers to post on different boards or you can create a business website entailing the details about the business including the services being provided. In this era of modern technology, it is advisable to construct a website.