Is General Contracting a Good Business

Online resources for the California exam are quite easy to find on the Internet. A few Google searches should point you in the right direction. However, this will require serious study and dedication on your part, especially since you seem to have little experience in the industry. Many people got into construction and renovation because they hated their daily work and wanted to work for themselves, so you would follow a well-trodden path. Just know that this type of work is not a walk in the park, and while your workers may be skilled, there will be a whole new skill you`ll need to learn to succeed (human, organizational, and business skills). However, this can be done if you are sufficiently motivated. Good luck to you if you choose to move forward. A successful contractor should be familiar with reading plans, sticking to work schedules, understanding building fundamentals, and communicating successfully with a team and customers. Construction training is necessary to avoid costly mistakes due to lack of experience.

It`s best to first take training with an experienced entrepreneur to learn the intricacies of running your own business. You should also be familiar with small business finances and employee management techniques. Finally, the ability to talk to customers and your team will often play a huge role in developing your overall reputation as an entrepreneur and business owner. Scott. I just wanted to thank you very much for your time building your website. I am an entrepreneur who is doing conversions and hopes to start building houses. I would love to become a builder. Their website is really informative and enjoyable to read.

I just started my own construction business and started right away. The first few months were great and now it`s really slowed down. I network a lot and try to use this slow time wisely. I know business will pick up, but sometimes it can be difficult. I appreciate your willingness to help others who are trying to achieve their dream. Stay tuned and I will follow and read your comments. It is difficult for me to tell you exactly what to do with the limited information you have provided. Is your daughter ready to quit her job and start a new business? There is always a risk associated with such a change, which must be carefully weighed, especially in an economy where it is very difficult for many people to find a new job. Maybe she could keep the job and you could both start this business on the side and see where she goes. Hi Jeff, sometimes I think I`m crazy, but I wanted to be in the home construction/renovation business since I was 20 years old. I am now a 57 year old electrical engineer (under contract with the military), physically in pretty good shape and have a lot of experience in building/renovating houses.

I come from a family of workers – my father built houses, my relatives were engaged in masonry, landscaping and carpentry. I also started a part-time terrace construction business a few years ago, but I had to give it up because my partner passed away. Because my father used to take me to work every summer when I was a kid, I gained experience in all of these areas. I can do just about anything, and if I need help, my brother can help me (he took over the family business of building houses). Anyway, I`m currently doing 6 characters as an engineer, but I absolutely hate my job. I plan to start a home renovation business soon, and I KNOW I can succeed. It`s so scary to make the first “jump”! You must think I`m crazy about getting away from such a “comfortable” job, but I just can`t imagine doing something I don`t even like anymore (the field of engineering has changed dramatically since I started). Am I not thinking right now?? Hey man I`m only 22 years old.

I already know the following roofs, ceramics, coatings, frames, floors, plumbing. Finishing, masonry, same landscaping. I`m ready to start a business soon. I want to be the best general contractor in New Jersey one day. and I hope to buy houses one day to renovate them. Thanks for this guy, I can see that it won`t be easy, but I`m willing to jump head first. One way to work around this issue is to send business calls to your mobile phone when you`re not in the office. Even if you can`t get to the phone, you can probably call the customer back faster than waiting to get back to the office.

Protect yourself, your customers and your business by ensuring you have the licenses and permits, bonds and insurance you need to operate your business legally. For many new general contractors, the prospect of creating a website can seem overwhelming and expensive. This could not be further from the truth. In fact, there are many simple and affordable ways to get a custom website for your business without hiring an expensive web design company or freelance web developers. Hi Jeff. I am a 23-year-old mother and accounting student from Texas and have always dreamed of having my own home building business. My parents built their own home when I was a teenager acting as their own contractor, and I fell in love with work while staying late at night and helping my dad wire the house. My mother is a real estate agent and she has done several flips that I have helped with. My husband and I bought a foreclosure home we lived in a year ago, repaired it, and made a $45,000 profit after learning we had to move because of his job. We now live with my parents and I can`t help but think that this money is the perfect opportunity for me to build my first house to sell. I know the procedure for getting a contract license in my district, I`m just worried about getting financing for the construction of a new for-profit home.

What kind of person is there who has never built a house by himself? Should I perhaps build a home for my family as a portfolio builder and then apply for a loan? I would hate it when that money we`ve saved is wasted, and I`m looking for every way to make sure it`s being put to good use. Your target audience includes potential customers in the area where you run your business, who can afford your services and who can hire you for a project. If you operate a sole proprietorship, you may want to operate under a business name other than your own. Check out our DBA guide to learn more. Depending on the business structure you choose, you may have different options on how your business is taxed. For example, some LLCs could benefit from being taxed as an S Corporation (S Corp). Choosing a name for your business is an important part of starting a business. Potential customers should be able to easily read your business name and remember and understand what your general contractor business specializes in. Choose a business name that correctly represents the services your company wants to offer in the market and avoid names that could create confusion about what you offer.

Ed- It looks like you`re essentially acting as a general contractor in this situation, and in some states it requires a special license. Check with your state licensing authority. Thanks for the comment. I have a daughter who has been working for 4 years in a prime contractor`s company as a quantity surveyor and buyer. Recently, a friend of mine, whom I consulted about starting my own business, told me that I am sitting on a gold mine that I have not yet operated. He was talking about my daughter, of course, and is even willing to raise half the capital as an investor if I can create a business plan that leverages my daughter`s expertise. Hi Scott, I`ve been researching to become an entrepreneur for some time, but I haven`t pulled the trigger yet. My father owned his own renovation business for seven years, but when he divorced in 2006, it was too difficult to manage, and he got a day job in a carpentry shop. I am 21 years old and like many of my peers, I went to university for a year of liberal arts and dropped out. It`s a total waste of time and money because it has nothing to do with what I want from my life. I wish I could go to vo-tech, but it wasn`t an option for me. I applied for apprenticeships with plumbers, pipefitters, electricians and lineman unions.

I`m relatively smart and a great candidate, so it`s not difficult at all to pass the tests, then it`s time for the interview and they don`t hire me for lack of education or experience. I went through a 4-month application process with the oil refinery here in New Jersey and out of 2500 applicants, I was one of 100 selected for an interview. Unfortunately, this opportunity has also presented itself. I feel like it`s harder to find a job today than to win the lottery, am I tired of raising my hopes? I prefer to start my own business. The question I ask you is: in this economy, I could implement the strategy that would be most beneficial to my business? I have experience in full bathroom restoration and could probably do a kitchen if I had to. Also, I have my father, so if I`m ever stuck, I can ask him for help. I`ve created some very professional business cards, but I haven`t really distributed them yet. Another question I ask myself is whether I have a website.

Do you really think people are looking for subcontractors on Google? And even if they did, how lucky are they to see my website? I know little about SEO (search engine optimization), so I think it might be difficult or expensive to actually be able to do this job. Or is it usually all word of mouth? I just don`t know what to spend my time on. I could go on applying as a lineman (here in Jersey they earn about $100-150,000 a year with full benefits and a pension) and go that way or start my own business. I`m not sure what to do and I`m looking for feedback for another party. No matter the size of your business, being prepared is what you can do or break. For entrepreneurs, however, it`s the little things that can determine whether you`re going to survive or not. Because being prepared is the key to efficiency and profitability. .