Starting a business in any industry can be a very complicated process. However, the construction industry, particularly asphalt paving is even more strenuous. While you don’t need years of experience to start an asphalt paving business, you must have a solid and well-thought plan. Contact our team today for asphalt paving Charleston SC homeowners trust.
Statistics show that almost 50% of all new businesses don’t celebrate their 5th birthday. However, only 35% of new businesses in the construction industry reach 5 years. While these statistics look ugly, a third of new asphalt paving businesses do succeed—meaning your business can succeed too. However, you will need a good plan for your business to succeed.
With that, let’s look at the top hints for starting an asphalt paving business.
Learn the skills required for the job
When planning to start an asphalt paving business, the first and most important thing to do is to acquire the skills that will assist you to get the job done. Therefore, you will need to learn the common asphalt paving jobs, like filling potholes and cracks, asphalt sealing, oil stain removal, and parking lot painting.
To get these skills, you can take a few courses to help you gain that hands-on experience. Also, you can find a seasoned asphalt paving, contractor, to train you. By doing that, you will find it easier to work on any asphalt paving project.
Also, you can use your hands-on experience and skills to find out the kind of services that you can offer as an asphalt contractor. While most asphalt contractors specialize in sealcoating services, there are other services that you can offer.
Create a business plan
A business plan is a vital document since it acts as your guide when starting your asphalt paving business. When creating a business name, make sure that you capture the name and general description of your business, and create a list of duties and responsibilities. Also, don’t forget to take an overall look at the market and industry in general. Please note that you don’t need any sort of experience to create a business plan—you only need to have a clear idea of the business, and how you intend to run it.
Get licensing and choose a business entity
The Florida asphalt paving contractor ABC Paving says that it’s essential to handle the legal aspect of the business—this also applies to the asphalt paving business. Therefore, you will need to get licensing from your local authorities. After that, you will need to determine the kind of business entity you want to operate.
This can be a sole proprietorship, partnership, corporation, or Limited Liability Company (LLC). This is a crucial step, one that will help your business get organized. Besides, it will help to protect your assets in case of bankruptcy.
Get the tools needed for the job
Asphalt paving jobs are a bit unique since they require specialized tools. Some of these tools include surface preparation materials, mixing devices, line marking paint, and spray systems, among other tools. Therefore, you will need to get these tools for your business to start.
Please note that these tools can be a bit costly, therefore, if you are starting and you don’t have enough capital, you can buy some second-hand equipment at a cheaper price. Also, you have the option of leasing the required equipment.
Just like getting the required licenses and permits, you will need to get insurance for your business. While having insurance is optional, running an asphalt paving business means you have workers and equipment to protect—and insurance will help you do so. Insurance can come in handy when one of your workers is injured during a project. If possible, go for general liability insurance—this covers both bodily injuries, as well as property damage. Also, you should consider getting workers’ compensation, and equipment, and insurance for your tools.
Market your services
Do everything you can to market your services. One of the best ways to do that is by creating a blog, where you can share information related to asphalt paving. This should assist you to attract and grow your audience. In addition, it will ensure that you are gaining followers in your local area.
Another way of marketing your services is through guest blogging, as it will help you to get your content to the public. Apart from blogging, you can create video content, and buy ad space on publications and websites that your clients follow. This is an effective way of growing your customer base quickly.
Ensure your business is listed
This is the last step after covering all the basics—ensuring that your business is visible. To do this, you need to list your business on common search engines, as well as other platforms like Facebook, Yelp, and Yahoo. When listing your business, ensure that you add the business name, website, address, service offerings, and contact information. Take note of the platforms where you have listed your asphalt paving business, in case you will need to update this information. If possible, go for an all-inclusive platform, where you can list, promote, and manage your business in a single platform.