The construction industry may seem like its dominated by big players and major corporations but there are a variety of opportunities for small businesses and entrepreneurs. In fact, there are many ways you can launch a career in the sector by starting your own enterprise.
If you’re considering venturing into the construction industry, check out these business ideas for inspiration…
As homeowners and landlords begin to see the potential of smart devices, they’re becoming a fixture in almost every home across the country. However, most homeowners want these devices to be fully integrated, rather than standalone.
For the construction industry, this shift means modifying existing strategies and creating new ones. For the tech-savvy entrepreneurs out there, the opportunity to get in at the ground level could be advantageous. As well as designing smart homes and offering your expert consultancy services, you could offer installation guidance, testing and instruction too.
- Interior design
Once a building has been completed, it, of course, needs to be furnished. Interior design is a major industry and it’s fast becoming part of the construction sector itself. Many building and construction firms work closely with interior designers to ensure their completed projects look fantastic inside and out.
If you have an eye for design and would enjoy working with a blank canvas, launching an interior design business could be right up your street. As well as targeting individual homeowners, however, it’s worth adding construction firms to your client base.
As building firms will have a continual and on-going need for your services, you can increase the customer lifetime value significantly by offering B2B services. While individual clients may only require your services once every 12 months or once every few years, construction firms will require your services on a constant basis. This means more work for you, higher turnover and, ultimately, bigger profits.
- Equipment maintenance
Although construction firms rely on the equipment they use to get the job done, they don’t always have an in-house maintenance team or monitoring personnel. Instead, they succumb to downtime when things go wrong and repairs need to be made.
For construction businesses, any delay can equate to costly fines and sanctions. By providing swift repair and maintenance services, you could create an enviable business model. If you were to offer replacement rubber tracks for excavators or multi-terrain loaders, for example, you can provide fast repairs when construction firms need them most. With the ability to prevent construction companies from missing deadlines, there is the potential to charge a premium for your services.
- Project management
Any construction project requires a variety of personnel and, generally, more than one company will be working on a project at the same time. Of course, this requires forward planning and on-going management. One relatively minor delay can prevent another team from starting their work, for example, so the potential for delays and increasing costs is ever-present.
Due to this, the construction industry relies heavily on project managers. As a freelance or self-employed project manager, you’ll have the opportunity to choose which projects you work on. You may even choose to specialize in a particular area and hone your skills.
If you’re organized, show great attention to detail and are willing to learn how the industry regulations impact different types of projects, a career in project management in the construction sector could be just what you’re looking for.
- Training and certification
Construction workers are required to obtain professional certifications on a regular basis, which means they require routine training. With a little training yourself, you could become a certified instructor and examiner.
As the regulations in the industry only seem to increase, there is a growing client base of people who will require these types of services. As such, you can expand to offer specialist training in niche areas, as well as the more commonly required certifications.
Building a construction business
Entrepreneurs who want to launch their own enterprises often discount the construction industry because they assume it will be too hard to break into. In fact, the construction sector can provide fantastic opportunities for small businesses and newer organizations.
As technology changes the way the industry operates, there are even more opportunities for entrepreneurs to succeed. While there is a significant amount of regulation within the sector, this, in itself, can create a great variety of opportunities for smaller business.
With a number of areas to explore, the construction industry is certainly worth considering if you’re planning to launch your own business or enterprise.