Deciding to start a new construction business is a big deal. While demand for new construction projects is high, there is still always a ton of risk to manage when starting a new business, whether in the construction industry or not. So, just how do you start a new construction business, and how can hiring a construction administrative assistant help?
Well, starting a new construction business is undoubtedly a daunting task that requires a ton of research, a solid vision, lots of administration work, and a bit of luck. But if you think that you have what it takes to make your new construction company a success, here is everything you need to know about how to make your new construction business a success.
Do Your Research
The first step when starting any business is to do thorough market research to help identify emerging trends and whether there is sufficient demand in the area where you want to begin operating.
This step can take quite a while as you’ll need to look into everything from who your target audience will be and the local companies that you’ll be competing with to specific niches that you may be able to fill with the services you plan to offer.
Luckily, there are plenty of trustworthy and accurate sources of information for you to comb through online that make this part of the process easier than it’s ever been. However, if you’re looking for a good place to start, both the US Bureau of Labor Statistics and the US Small Business Administration offer a ton of data and information that will be incredibly useful in your research.
Come Up With a Thorough Business Plan
Every company needs a thorough business plan to set them on the right track, so naturally, the next thing you’ll need to do is to write one for your new construction business.
However, writing a proper business plan is something that’s often a lot easier said than done, and there’s no doubt that you could spend hours just figuring out how to get started. That being said, every good business plan needs an executive summary and company overview, followed by sections about market analysis, business structure, products and services, marketing and sales, and financial plans and projections, as well as an appendix.
Register Your New Construction Business
Now that you’re done with the research and business planning steps, it’s time to bring your new company one step closer to being a reality by registering it with the proper agencies. This will require you to decide which type of business entity you would like to register as. In addition, you’ll also need to apply for an employer identification number (EIN) from the IRS for tax purposes.
After that, you’ll also need to register with any local and state agencies, depending on requirements that exist in your area. These requirements are usually easy enough to find on local and state government websites.
Seek Out the Necessary Licenses, Insurance, Permits, and Certifications
Unfortunately, registering with all the proper agencies isn’t enough to start operating a business. You’ll also need to look into acquiring all the necessary permits, licenses, and certifications necessary to operate a construction business in your area. At minimum, this will include getting a general contractor’s license. However, chances are you’ll also need to apply for a specialty contractor’s license, which covers things like HVAC and electrical work, as well as carpentry, painting, and roofing.
Other than that, you’ll also need to acquire insurance to make sure that your new company is covered if something goes wrong. This will most likely include everything from general liability insurance, property insurance, and vehicle insurance to workers’ compensation insurance, unemployment insurance, and state disability insurance, all of which are essential to ensuring you’re new construction business’s success.
Secure Essential Funding For Your New Construction Business
While this is by no means an exhaustive list of everything you’ll need to do to get your new business off the ground, the last thing you’ll need to do to make your business a reality is to secure funding.
Funding can come from a wide variety of different places, and it could include money that you’ve set aside yourself. However, considering start-up costs tend to be extremely high, chances are you’ll also need to secure funding in the form of small business, working capital, equipment loans, purchase order, and vendor financing.
How a Construction Administrative Assistant Can Help You Start Your New Construction Business
As you can see, starting a new construction business requires a ton of time, effort, money, and administrative work. However, that doesn’t mean that there’s nowhere to turn for help.
One of the best things you can do for your new construction business is to outsource some of that admin work to a constructive administrative assistant. These assistants can aid in everything from researching what registrations, licenses, and certifications your new business needs to doing the administrative work needed to acquire them. But that’s not nearly all.
Once you start landing projects, a construction administrative assistant can help take the pressure off you and your team by performing an almost endless number of different tasks, including aiding in the management of projects, inventories, scheduling, estimates, submittals, documents, accounting, insurance, customer support and even marketing tasks like social media, SEO and lead generation.
All of this allows you to focus on the bigger picture while someone else takes care of all the other necessary but often tedious tasks. So, no matter what your goals are with your new business, there’s really no better way to ensure its success than by hiring a construction administrative assistant to help you bring everything all together.
Contact Virtual Construction Assistants and Hire Your New Construction Administrative Assistant Today!
Do you need to hire a construction administrative assistant to help you get your new construction company off the ground? Contact Virtual Construction Assistants. Their team is always there to answer your questions and will happily help you find the right construction virtual assistant to meet your new company’s needs.
Starting a new business is always scary, but with the right team around you, it doesn’t have to be. So, don’t let your dreams of starting a new construction business fall by the wayside. Contact Virtual Construction Assistants and hire the construction administrative assistant you need to make your business a success today!