Entrepreneurship In Construction
Do you think entrepreneurship is just for people in suits? Think again. It doesn’t take a Master’s degree in business to build your own company. The construction industry is a building ground for entrepreneurship. Carpentry, plumbing, masonry—just about any trade is ready for an exciting new mind to bring change.
Best of all, you can easily become a construction entrepreneur without drowning in college debt. Instead of spending thousands, if not tens of thousands on a degree, building a career in the trades lets you pave your own path from apprenticeship to expert to owner.
Construction gives young entrepreneurs a unique opportunity of advancing from a novice to a successful business owner quickly. A career in construction is a smart choice that allows you to learn real, applicable knowledge you’ll use for the rest of your life.
Trades require years of learning to perfect. However, unlike a college degree, you get paid while you’re learning. Plus, you get real, hands-on experience in your field. That’s something most 4-year colleges can’t promise.
Modern trade careers involve more than just hammers and wrenches. Trade careers incorporate exciting new technology like drones, 3D printing and smart devices. As a young entrepreneur, it’s relatively easy to set your business apart from the competition by incorporating these new ideas. After gaining experience in the construction industry, you can apply your experience and develop new construction technology of your own.
Becoming a Construction Entrepreneur
As an entrepreneur, you can start your own construction company with as little as two employees.There’s no nationwide industry giant in construction like there is in technology, retail or finance. You’re not battling a Facebook or Goldman Sachs just to get started.
You also need not own a massive construction company to be successful or self-sufficient. As Construction Executive points out, “According to data from the Small Business
Administration, companies with fewer than 500 employees comprise 99 percent of all firms in the United States and supply nearly two-thirds of all jobs.”
With actual trade knowledge and experience, you’ll be well ahead of many others starting a company. Think about it, after you complete your apprenticeship, you’ll have almost everything you need: tools, experience, industry connections, and hopefully, knowledge of how to find and execute jobs from start to finish.
Take the Subcontractor Route
As a subcontractor, you get many of the perks of being self-employed without the stress of managing an enterprise-sized project. Subcontractors help fill in the gaps that large construction companies can’t fill with their current staff or knowledge. Many large construction companies depend on subcontractors to complete large-scale construction projects. Often, once you get your foot in the door with a contractor, they’ll continue to rely on you for future projects, given that you complete jobs to their requirements.
Benefits of working as a subcontractor include:
- working in different locations
- working your own hours
- using your own equipment
- managing your own expenses
- selecting only the jobs you want to take
- gaining hands-on industry knowledge
Build Your Own Business
Once you get a handle on subcontracting, you can definitely take on larger construction projects and compete with larger construction companies. As you gain more experience, you’ll have more interaction with clients and get a true understanding of how the industry works through hands on practice.
From there, the sky’s the limit. You can grow your business, invent construction tools and processes, find new ways to incorporate technology, and more.
Interested in Becoming the Next Bill Gates of Construction?
Build-Pride can help you pave that path. Contact us today to learn more about the exciting opportunities the construction industry has to offer.