5 Tips Before You Start Your Own Building and Construction Business

So, you want to be your own boss in the building and construction industry? You are not alone — according to the ABS, almost 60% of tradesmen in Australia are self-employed.

But before you quit your day job to launch your own business, there are a few things you need to consider. Here are our top tips for launching your own building and construction business in Australia.

How do I start my own building and construction company?

Step 1: Do your research about construction businesses

Before you launch your business, it’s important to do your research. 

You should make your research about things such as: 

• The building and construction industry overall
• Your target market and what they are generally willing to pay for the services that you will be offering
• The existing competition in the market, and what gap you might be able to fill
• The financial requirements. Make sure you know how much it will cost to set up your business, as well as ongoing costs like business insurance, marketing and fuel

Once you’ve done your research, you can start putting together a business plan which will map out how you can create your building and construction business successfully. 

Step 2: Get qualified

To work in the building and construction industry in Australia, you need to have the proper qualifications and certifications. Getting the right education is an important start to any successful building and construction business! 

Depending on what area of building and construction you want to go into, there are different qualifications you will need. 

What certifications should I attain?

Doing a Certificate IV in Building and Construction is the first step towards preparing for a builder’s registration.

The next step you can take is the CPC50220 Diploma of Building and Construction (Building). This will help you learn the professional skills and knowledge to manage or supervise building and construction projects, or even start your own business. 

It’s vitally important that you have completed any necessary training before starting your own business. 

Step 3: Build a strong team

When you’re first starting out in the building and construction industry, it can be tempting to try to do everything yourself — but it’s important to remember that you can’t be an expert at everything. 

Even if you’re the mastermind behind your own construction company, you can’t do absolutely everything yourself.

Why is it important to build a strong team around me?

Assembling a team of qualified professionals who share your vision and values and can help you with all different aspects of running your business. 

From tax payments, budgeting, and hiring new people for project management and on-site work. At the end of the day, a strong team will help take your business to new heights and make sure that everything runs smoothly, so you can focus on the bigger-picture tasks. 

Step 4: Invest in the right equipment

For your business to run smoothly, you need to have the right equipment and materials. This includes everything from small tools and safety gear to larger items like vehicles and machinery.

Not only do you need to make sure you have the right equipment for the job, but you must also ensure that your equipment is properly maintained so that it doesn’t let you down when you need it most. 

Step 5: Promote your business

Now that you’ve got all the pieces in place, it’s time to start promoting your business.

How can I promote my building and construction business?

Let everyone know that you’re open for business — put up signs around town, advertise in local papers, and take advantage of community events.

Utilise social media and establish presence across Facebook, Twitter, Instagram, LinkedIn, and TikTok to showcase your expertise. The more people know about your business, the more likely they are to use your services. 

Step 6: Develop a contingency plan

No matter how well prepared you are, there will always be unforeseen circumstances that can throw a spanner in the works (literally). 

Whether it’s bad weather or material shortages, it’s important to have a contingency plan in place so that you can keep your project on track, even when things don’t go according to plan. 

Is it important to track growth as a building and construction business?

It’s also important to review how things are going in your business and make any necessary changes or adaptations along the way.

Are you achieving the goals you set out in your business plan? Are clients happy with the service they’re receiving? Are there any areas where you could improve?

Regularly reviewing how things are going and making changes where necessary means that you can continue to grow and evolve as a business. 

Launch a Successful Construction Business

Launching a building and construction business is no small feat, but you’ll give yourself the best chance of success if you do your research, get the necessary qualifications, invest in the right team and equipment, and plan for the unexpected. 

Soon enough, you will be an established, successful, and in-demand building and construction entrepreneur!

Do you have what it takes to be your own boss? Take the next step and face bigger challenges with our CPC40120 Certificate IV in Building and Construction and CPC50220 Diploma of Building and Construction (Building). 

Contact our team at 1300 LEGEND (1300 534 363) or request a callback, and we’ll get back to you with all the information you need!