Growing Your General Contracting Business
Contractors occupy a unique niche in the business world. They can help residents, businesses, and governments make big changes to properties, often requiring many fields of expertise. A large-scale project could require contractors for plumbing, electricity, architecture, interior design, engineering, HVAC, and more. If you are an aspiring professional in this industry, here are a few tips to set your general contracting business apart and increase your project workload with more clients.
When you run your own general contracting business, your success depends on finding clients and convincing them to trust your services for their project. No matter the scale of the construction that you do, you need to build your business so that it is in a position to entice clients.
Figure Out Your Target Market
Finding a niche filled with ideal customers for your services is one way to propel the business toward growth. For example, maybe your contracting services are designed for residences, and your target audience includes homeowners. Next, you could focus on small business clients who want to stay competitive with renovations and expansions of their buildings. Eventually, you could focus on bigger projects with large companies or local governments. Once you nail down your ideal clients, you can build your service offerings around meeting their needs.
Pay Attention to Insurance
One of the many mistakes you can make when running a contracting business is failing to invest in adequate insurance. The construction industry is at the top of the list for workplace injuries and accidents, so if you are only paying for basic general contractor liability coverage, you could risk losing a lot of money when accidents occur. Make sure that the insurance you have can cover the scope of the projects you will take on. Policies that you should include general liability, worker’s compensation, tools/equipment coverage, and business interruption protection. And speaking of equipment.
Invest in Quality Equipment
Contracting is a tough industry to break into because of the barriers to entry, including initial equipment costs. Some business owners may rent tools based on project needs, but this can overcomplicate the process. Investing in quality equipment now means being able to provide more services for your clients. Make sure that your power tool inventory is high quality. For outdoor projects, a landscaping rock rake that attaches to a skid steer could be the perfect investment to provide soil preparation services for farmers and other business clients. Better equipment can also mean increased safety for your team members during the project. Spend your resources wisely and let your equipment speak for itself when attempting to convince clients of the quality your company provides.
Build a Marketing Strategy
While you can rely somewhat on your network and word-of-mouth from satisfied clients, you will have to put some effort into marketing campaigns. When you want to generate new leads, your company must decide what messaging will work and what channels to distribute your messaging through. For contractors, having a website with strong local search engine optimization is important. Set up and refine a profile to draw local organic traffic to your site. Social media platforms are great for showing off before and after pictures of complete projects to demonstrate your expertise. A print campaign using signs or direct mail can also connect with your target audience. A well-planned marketing strategy can increase brand awareness and generate leads that will result in more projects.
Provide Top-Notch Customer Service
Leaving your clients happy is the most effective way to advertise your services to others. This means having a successfully completed project and giving the client peace of mind during the process. The most effective way to do this is to stay in constant communication throughout the project. Be honest and upfront about any issues or delays, so the client is never confused or surprised. Be a good listener when speaking with the client about their needs and vision for the project. This level of customer service will leave them with a great impression of working with you and increase their chances of earning a referral.
There Are Many Avenues to Growth
Building a thriving contracting company takes time and a lot of effort. Focusing on any of these tips can bring you more clients, but the best approach is a combination of multiple strategies. Know your target market like the back of your hand so you can address their pain points. Ensure your insurance matches your project capacity to prevent massive losses when accidents happen. Buy quality equipment that proves you can handle the client’s project needs efficiently. Finally, have a marketing plan to generate leads and provide top-notch customer service. You will be positioned well for growth with these weapons in your arsenal.