To become a contractor in the construction industry, there are several conditions you have to fulfill, and a lot of machinery you need to acquire. Concrete Pumps USA is here to cater to your heavy equipment requirements as you set up your new business. You can conveniently find what you need, whether it’s a concrete pump or a mobile mixer, in our huge inventory. From us, you can get all the essential machinery in one place and at affordable prices. That will save you time that you would have otherwise spent looking for various sellers for different equipment.
Knowing that you have a reputable supplier ready to fulfill your construction machinery needs, you can focus on getting your business up and running.
How to Start Your Contracting Business
Starting a construction business can be daunting, but you’ll find it less challenging with these few tips:
- Create a Business Plan
Having a plan gives you a clear picture of your target market, startup and running costs, and the equipment you need. It allows you to prioritize on what to budget for at the beginning, and identify things that can wait until your business begins making profits. A good strategy is vital in keeping your new venture from collapsing in the first few months when you have not yet built a reliable customer base.
- Register Your Company
Before beginning any operations, you’ll have to register your company with state authorities. At this point, you should choose a legal entity, such as a limited liability company (LLC) or a corporation. This protects you from personal liability in case your business gets sued.
You should also register for taxes, both with state and federal bodies. In addition, you’ll be required to apply for an employer identification number (EIN) after registering your company.
- Get Permits, Licenses, and Insurance
Other than a general business license, construction contractors need to apply for various licenses and permits to allow them to operate. For instance, a builder’s permit is necessary, while other licenses will depend on the state laws.
The insurance covers that you may be required to have include contractor general liability insurance, commercial auto insurance, and builders risk insurance. General liability insurance covers property damages or injuries that may occur during a project. This is a policy that clients seek proof of before hiring a contractor. Builders risk insurance covers materials and structures during the construction process to protect against risks such as damage caused by vandalism or weather.
- Establish a Home Base
Last but not least, establish an operation center from where to run your business. When looking for a location, consider office, storage, and parking space for your equipment.
Your Reliable Partner
While you figure out the legal demands of your construction business, Concrete Pumps USA is ready to help you sort out financing for equipment. We offer full financing for equipment and deals on hauling services. If you need a concrete pump and other construction equipment for your business, call us today on 435-615-0072.Concrete Pump