Are you the type of person with an entrepreneurial spirit and a passion for business, yet you always want to be outdoors?
You enjoy the idea of earning every penny that your business makes through hard labor and many hours outside. What could be better than that?
If so, then you should consider creating a fencing business, which will allow you to control your own fences selling services, rather than being told what to do by someone else.
There are many different things that you'll need to do in order to start your fencing business. Be sure to follow these steps in order to set yourself up for success with your fence building and repair business.
1. Create a Business Plan
Perhaps one of the biggest reasons that most businesses fail is because they didn't take enough time in the prepping phase. They didn't perform proper research in order to build something unique.
For that reason, you'll want to take all the time that you need to create a business plan. This will include all of the information that you need and can help you educate yourself on the marketplace you're walking into.
Also, if you're wanting to get funding from a lender, then a well-thought-out business plan is expected.
Your business plan should include details such as your startup costs, buyers personas, your target audience, marketing plan, break even points, etc.
It should also include things such as your business's name, motto, employee chain of command, and management team bios.
Also, you'll want to make sure and list the type of products you'll use for your business.
For example, you'll want to list the high-quality fences that you'll be installing for your clients. Include details such as its price, warranty, and turnaround time. Learn more about top quality fences and proper fence building at your local hardware or home improvement store.
2. Get Your Documentation in Order
You won't be able to suddenly start up a fencing business and be installing a fence the very next day.
State and federal regulations will require your fencing company to have all the proper permits, licenses, and registrations that are necessary.
First, get things starting by getting your contractor's license in order and applying for a business tax license.
Both of these are vitally important in helping you make smart decisions. They ensure you know proper techniques for both the construction and financial side of your new business.
Don't just do the bare minimum on these two things just to get them faster. Take your time and legitimately study the material they give you.
3. Open a Bank Account for Your Business
Many people in the business world make the mistake of combining their personal finances too closely to the expenses of their new business.
Doing so will risk you losing your personal assets such as your car, home, etc. if things go south in a hurry. In order to protect your personal assets, it's advantageous to open up a business bank account.
Doing so will also make the burden of filing your taxes much easier year in and year out.
Also, you might consider getting a business credit card, especially for when you initially start things up. A company credit card can help you take control of your cash flow.
For example, you'll need to purchase some materials for your company's first-ever fencing job. That means buying those materials before the client pays you.
Placing those materials on the company card will allow you to pay it back once the job is completed and you've been paid accordingly.
4. Get Proper Insurance
As with any type of construction or manual labor, accidents are going to happen in your fencing company's business.
However, depending on the accident, your fence company might be on the hook for thousands of dollars in expenses.
You want to make sure to have insurance, such as general liability insurance and workers' comp insurance ready to roll before your first fence building job.
The general liability insurance will protect your company, your workers, and your clients in case a costly accident were to happen.
The workers' comp insurance is to protect yourself, your company and (most importantly) your worker if they were to get injured on the job. Both types of insurance are required by law, so make sure you're set up with those right away.
5. Build a Marketing Strategy
So, you've identified your niche, supplied your business with the best materials, and are ready to carry out the best customer service possible. There's only one problem remaining... you need to push your fence business to the world.
Every successful company has a strong marketing plan that's constantly growing and evolving with the trending marketplace.
However, your main focus (for now) should be identifying what your fencing business brand is and how you can sell it.
For example, if you're going to pride yourself on top-notch customer service and the durability of your fences, then that's something to build your brand around!
Your marketing plan will need to integrate digital marketing strategies such as designing a website, search engine optimization, and pay per click ads. Each of these can help you reach your target audience much faster and get you paid much quicker. Don't feel fenced in by average marketing techniques you see daily, get creative!
Build Your Fencing Business Today!
Now that you've seen what it takes to get your fencing business off the ground, it's time to get things started and framing fences.
First things first, you need to learn all that you can about the product you'll be selling: fences. Start by re-reading this article on finding the ideal fence for each home and starting a fence business.
Want to learn more about starting a fence building company? Visit the Real Estate section of the Bootstrap Business Blog for more home improvement, construction, building, and property management tips today.
