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If you're thinking of starting your own company, you want to pick a business model that's resilient and in demand. Starting a company centered around a skilled trade is a great idea. Examples of skilled trades include carpentry, plumbing, and welding.
That said, if you don't know much about skilled trades, you may be wondering where to start. Don't stress: This guide from Blox covers everything you need to know about starting a skilled trade-related business, from how to pick a trade to what paperwork you need.
Recognize the benefits of a business centered around a skilled trade
Skilled trades are generally in-demand fields that are always needed. Contractor Mag claims that skilled trades are "recession-proof," meaning that these businesses will stay afloat even when economic hardships arise. This is because many skilled trades are simply essential to day-to-day life. For example, plumbers will always be needed to help maintain plumbing systems for businesses and private homes.
It’s really all about finding your business niche. Some trades, like becoming a beautician, have a lot of direction. Do you want to specialize in color? Or weaves? Or men's cuts? Research your market. Make sure your business niche has sufficient interest with surveys. Ensure completion by offering participant incentives, which will entice customers to complete and submit surveys, at which time you’ll gain valuable data.
Educate yourself about the various skilled trade jobs available
The term "skilled trades'' encompasses many different specialties. Do your research to determine which niche you want to pursue. This roundup of options is a great starting point. Construction skilled trades include masonry, painting, pipe fitting, and more. Agricultural skilled trades range from forest conversation to animal caretaking. There are also "service" skilled trades like baking, nursing, and hairdressing. As you can see, there's a diversity of options available to suit all kinds of preferences.
Invest in the training you need to master your chosen trade
Once you've chosen your skilled trade, it's time to get the requisite training. There are many excellent trade schools throughout the United States where you can get the hands-on education you need. In addition to basic training, you'll also likely have to pass some kind of certification exam to get licensed in your chosen trade. Finally, as the US Department of Labor points out, it can be helpful to get your first real-world experience via an apprenticeship before starting your business. This ensures you know the ins and outs of your trade, giving you confidence.
Expand your knowledge using online resources
As a skilled tradesperson, it's important to stay up-to-date on the latest trends and developments in your industry. Online resources can be a great way to do your research. For example, if you're a welder, you can visit specialty sites for industry-specific information. You can learn more about useful resources for welders, for instance. You'll get information about everything from the craft itself to reviews of welding products.
Get the relevant business licenses and certifications to start operating
Most trades require you to have a business license to practice. For example, you may need to become licensed in your state to work as a welder, plumber, or electrician. This certification process helps to keep consumers safe, creating a marketplace of credentialed professionals who people can trust. You may also need to formally register your business and invest in business insurance. The Small Business Administration has a guide to business licenses and permits.
Choose a business structure
Choosing the right business structure is an important step in starting a successful business. Forming an LLC (limited liability company) can be a great choice in that regard. An LLC provides some benefits associated with both corporations and partnerships, such as limited personal liability, ease of formation and flexible income tax options. If you’re considering forming an LLC, there are usually just five steps, including naming your LLC, appointing a registered agent, and applying for an EIN.
Create a website and start promoting your services
Once you've taken care of all the administrative steps above, you're technically ready to open your business. To attract customers, you'll need to invest in some marketing. A good first step is creating a website. After that, you can use tools like blogs and social media to promote your work.
A business focused on a skilled trade offers great job security. However, it requires careful preparation to set up. From getting your education to enhancing your skills through online research to choosing a business structure, the above guide reveals how to make your trade business a success.
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