When you were young, you often fantasized about building things from the ground up. You may have stared at new constructions for longer than usual and decided thats what you wanted to do. Now since that time has come, youre a little unsure about where to go from there. Opening your own commercial construction company isnt an easy process to go through. But with a few helpful tips from us, youll be ready to assemble your plan in no time. Heres what to know before opening your own commercial construction company.
You Need to Invest in a Fleet
Every construction company needs a stable fleet. Its how you and your soon-to-be crew gets to and from work zones. Its also what houses all the materials and tools you need. However, getting a fleet isnt exactly the easiest thing to accomplish. They cost quite a bit of money; tens of thousands to give you an estimate. Youre going to need the help of a business loan to acquire it. From there, you have to ensure its compliant with both the DOT and FMCSA. Any vehicle used for work-related purposes is considered to be a commercial vehicle.
But the FMCSA has another way of putting it. Depending on the vehicle and nature of your work, you might need to have your drivers obtain a commercial drivers license first. This is done as a way to ensure security for both you and your drivers. Purchasing a fleet and making sure its legally compliant is only the first step. Managing a fleet is another job within itself and soak up a lot of your attention. Combined with how much you have to devote into the company itself, managing your fleet might not be possible. To ensure your fleet and its drivers are safe and sound, your best bet is to hire a fleet manager. Theyre role is to keep tabs on the status of each driver and make sure the work vehicles acquire the maintenance they need.
You Must Screen Employees Carefully
Before any construction company can get off the ground, you need to have a large enough task force first. However, due to the nature of construction work, you cant just hire anyone that applies. Construction companies thrive off of quality service and a good reputation to keep themselves relevant. You want to hire the best workers you can find. Always check their credentials and experience to see what theyre capable of. If theyre willing, you need to perform a background check as well. This lets you see their prior employment and criminal records, if any. Anyone who denies a background check should be avoided at all costs.
Budgeting is Going to Carry You Far Construction work costs a lot of money in both your case and your clients. Even when you strive to cut commercial constriction service costs, because so much money is going to be spent on materials, tools, and transportation costs, it can be difficult to manage it. Thats why you need to have a comprehensive budget set in place and update it as you go along.