Create a Business Plan
First and foremost, it’s time to build the blueprint of your newfound business. This means coming up with a catchy name for your brand that doesn’t already exist, estimating your startup and ongoing costs, determining the exact services your contractor business will provide (full-service offerings vs. a specialized scope of work), acquiring any necessary business and state licenses, laying out the structure of your team and nailing down who your key audience is—to start. While this part of the process sounds time consuming, be as thorough as possible. Remember, your company is only as strong as its foundation!
Types Of Insurance Coverage for Contractors
It’s no secret that running a construction site has its risks. Between the potentially dangerous terrain to the heavy machinery, equipment, and tools, there are countless opportunities for your employees to get hurt on the job. That’s why proper coverage is crucial. Not sure where to start?
Here are the essential coverages for contractors:
While insurance coverage is there to protect you when you need it, be sure to develop a thorough safety plan to prevent accidents in the first place. Brief all staff members, including new employees, on the rules and regulations, and ensure they know what to do in case a work-related incident occurs.
Tips on How to Market Your Small Business
Now that your construction company is up and running, it’s time to promote your business both online and offline. While marketing may not be in your wheelhouse of expertise, here are a few simple ways to advertise your small business: