If you’re looking to expand your construction business, there are a number of factors to consider.
Firstly, you need to have a clear scaling plan in place. It is tempting to want to grow your company as quickly as possible, because subliminally it feels more professional to have many employees below you and a large customer base, but this may not be right for you.
So, work out why it is you need to scale, and how large you want to grow eventually. If you never want to cede control of the company, then hiring lots of new employees doesn’t make sense. If, however, you want to retire from the business as quickly as possible, outsourcing work is the approach to take.
Secondly, you need to consider the financial cost of expanding. Surprisingly, medium to large-sized businesses can return a smaller profit margin than a tiny one-person business, purely because you have to pay more overheads like taxes and salaries.
It is necessary, therefore, to consider all the options.
Here’s how to expand your construction business:
Buy your equipment and supplies wholesale
If you want to expand your construction business without incurring a hefty financial outlay, you should consider purchasing your specialist equipment and supplies wholesale. Thanks to the internet and fast delivery times, it is increasingly easy to do this – you just buy them online.
This will make it easier for you to expand, because you won’t constantly be worrying about whether your employees have the right equipment for different jobs, or if you have the necessary resources to say yes to a large project.
Buying in bulk from a wholesale provider also tends to be a lot cheaper than buying as you go, which means you lower your overhead costs in the long term.
Make sure you have a strong online presence
You might not think so, but your construction business could benefit greatly from a strong online presence. Although your services are offered in the real world, the majority of your prospects are online.
This means you should make sure your website looks professional, and consider creating a social media page that you update regularly. You could even take your digital marketing to the next level by writing a blog post on your website, which would likely increase traffic and reinforce your ‘expert’ status.
Expand your workforce into clearly delineated teams
If you want to expand your construction business, one of the hardest challenges you will face is training new staff, and trusting them to complete projects to a high standard in your absence.
To ensure you maintain quality control of clients’ projects (as well as control over your business), it is important to create clearly delineated teams.
These teams should be composed of an experienced team leader and as many workers as you need to complete the project. If possible, you should provide an even balance of youth, experience and expertise across your different teams, to ensure the most rounded workforce possible.