Concrete is a type of business that can be started with a small capital and you may have very few employees. This business although allows the owner to grow as big as they want. For every successful business the first step is to develop an achievable plan. The plan should also include potential problems and all the possible solution for throughout running the business. Check out more at conceptconcretewa.com.au
Your business plan should establish the goals of your business. It should have a detailed plan of every stage involved in the process along with the funding ypu will need for each goal. Your business plan needs to be thorough and detailed as you would require it in the coming stages of your business to borrow funds.
Identification of your Market:
Before you start, define your target audience. If you are starting small, who would you be selling to? You may wish to sell to homeowners directly or you may sell to contractors. Identification of your target audience is important here as you are starting small you may want to start off by laying sidewalk foundations or driveways.
Understand your market and what opportunities are available for concrete contractors. Consider and locate the best location for your firm, decide on the services you will be offering and how is it that you plan to set your firm different from the ones all ready in the market.
Paperwork and Licenses:
May it be a big business or small, the proper paperwork and license is needed for everybody. Before you start your operations, make sure you obtain and complete all the legal documents from the concerned authorities. The name of your company has to be registered with the government. Rules vary in different locations; some states require separate concrete setting up licenses.
A few documents required for you before you start your business shall be-
- Property Insurance
- Worker’s Compensation
- Commercial auto insurance
You need to protect not just your business assets but also yourself, work related injuries, damage to client’s property or personal liability. Both you and your business need to be fully covered for any future problems that may occur.
Audits are not common but they do happen, make sure your keep your books updated for the same.
Be certain of the paperwork, licenses, permits and registrations that are required for the business. They vary by city, state, locality; you may hire a lawyer if necessary.
You need to start small, do not try to attempt every masonry project under your roof. Take up smaller projects which fit in to your start-up. Not all jobs require the same tools, some may need special equipments which you may not use in the future for all your projects.
Hence, you do not want to waste your start up capital on high-end equipments which will not offer you good returns on your investment. It is not wise to bite off more than you can chew, so start with smaller projects and work your way up to the bigger ones.
Advertising & Marketing budget:
Be it a simple signage for your company site or TV, radio or newspaper ads; you might want to decide the advertising depending on the funds supply that you have. The creating of a logo is a must for your brand to be recognised in the market. Other promotional items include your business cards, brochures and business portfolio. Either ways you will need to allocate more funds than you think you would need for marketing.
Home Base Setup:
You will need to find a good home base setup for your business. While many of the start ups begin at home, you may eventually need to shift to a office location for your business. The location you choose would need to have ample of office and storage space for your tools and equipments. Also make sure you have ample parking for the vehicles used in the business.
As many as 15% of concrete workers get injured on the job site. The concrete industry is no different from the larger industry. Have a plan in place to ensure the safety of all your labourers working on the jobsite.
Work your Networks:
Be sure that you extend to your existing networks to find jobs. As you have planned to start up a concrete business, you have likely spent time in the construction industry. Begin to develop more relations in the industry by joining proper groups.
Starting any new business is not a cake walk. Take all your time to plan your business idea and make sure you do all your necessary homework. This will help in ensuring that your business is successful.
The concrete business can be a very stressful path. As any new business venture, you are bound to know your market, who you want to work for and your messages go through appropriate channels to find your customers. Construct a website that provides information of you and your business and services offered. Build up a contact network of businesses and contractors and ask them of referrals.
Instead of just buying all your tools outright, you can consider leasing your equipments. Not all jobs may require the same tools, if a current job requires equipments which you may not use further on; leasing is the best way to save your capital.
For big projects you may buy ready mixed cement bags that get delivered to the job; you may need to rent a motorized mixer for the big job. As when you first start your concrete business you will immensely need all the funds for proper promotion and marketing. Keeping this in mind decide whether leasing the tools would be beneficiary for your business in the long run.
Having a small successful business is the best way to start a financial security for yourself, and starting a business is an excellent way to achieve your goal. Owning your own concrete business can be an exciting opportunity. All you need is to do your homework, have a strong base, consider your options and you can be a successful concrete business owner too.