Slowed construction and discretionary spending harmed this industry during the past economic downturn. However, with the global economy turning around, spending is expected to pick up in this sector.
If you are starting a business involving a trade , the strongest barrier to entry is professional certification. Not all trades, but many, require several years of apprenticeship and schooling.
Consider a trade business for sale if you want to speed up your entry into the local market. If you attempt to enter on your own, you will have a difficult time competing with established companies.
If you do have the required license, experience, and training your area requires, locate an area where there is little competition. Running this type of company is focused primarily on creating a local reputation.
Purchase all necessary supplies. Do everything you can to make your service convenient for customers. Many people in this industry do great physical work, but forget the customer service end.
Learn how the bidding process works in your area, if applicable. Contact the local government administrative headquarters to review past bids. Then you will know how to bid your services.
At first, bid on jobs that have a high and low level of profitability. You do need the cash, but you also need to establish your reputation. Sometimes, you have to underbid the competition to get started.
If you do work in people's homes, go the extra mile by wearing shoe coverings. People appreciate anything you do to keep their property clean.
Connect with other contractors in your area. Tell them to offer your services in coordination with theirs.
Talk with local real estate agents and property managers. Post your contact information everywhere in town. Visit local home shows.
Whatever you do to market yourself, be sure to do it aggressively and consistently. Eventually, you will build a regular client base. When you do good work, those clients will pass your name to others.
If you are considering buying a trade business, now may be a good time to enter. The market is slowly recovering. If you are considering selling a trade business, now may not be a bad time either.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .