So you’ve studied the industry for a while, probably worked in it for a long while, and have noticed a gap in the market, a hole in your area that needs to be filled. With their growing popularity, it’s difficult to start up a paving company in an area that hasn’t already got an established business.
If you’ve been lucky enough to find such a location, and are eager to get going before you miss your shot, then we strongly advise that you do so, but not before reading this short list. We’ll talk to you about a few things that you should consider first, so that you can avoid making those rookie mistakes.
Ready to get your business rolling? Then carry on reading, we’ve got what you need.
1: The Contracts
This is one of those things that isn’t necessarily fun, but is one thousand percent necessary. If you don’t develop solid contracts and agreements, then clients aren’t going to be satisfied enough with your business to select you to do their work. Would you let someone work on your property or land without signing contracts first? I know we wouldn’t.
It is imperative that you draft out contracts and make sure they include all of the necessary legalities. Run them by a lawyer if you need to, this way you’ll know that you are doing everything correctly. And in business, that is very important.
2: Prices And Estimations
It’s easy to get all excited about starting your company, and even easier to forget about a lot of important things during this excitement. It’s no good buying your equipment, registering your company and then sending out advertisements, only to not have a clue what to do when your first possible client gets in touch.
You need to devise a system before you even consider advertising. A system that will fairly assess and price every job as they come. The majority of customers will want an overall fee before the work even begins, so you’ll need to be able to work this out. You have to be competitive with prices, but you need to make sure you’re taking a profit too. After all, that is the purpose of a business…
3: Get Good Insurance
This is another one of those more laborious subjects, but it will be much more laborious if you have to hand over a huge sum of money after losing a claims battle.
Having proper business insurance will cover your company when it comes to claims involving property damage or personal injury. The last thing you want is to fork out money when losing out on a claim. Avoid this by making sure you are fully insured, and with the right type of insurance too.
A Few Of Many
Those are just three of the many things you must consider before starting your own paving company. Make sure that you do plenty of research and do everything by the books, it will save you a lot of hassle in the future, because you won’t make those rookie mistakes that send everyone else’s business crashing down the pan before they even establish.