You will be successful on your small scale demolition company if you created a business plan and bring out an initial investment (around $2,000-10,000). There are many opportunities for starters of small scale demolition companies. Read the steps below:
Start with a small-scale and residential demolition company. Starting a demolition company will depend on the experience and capital of the business owner. A smaller and manual demolition company would be the best fit for a starter. A small swimming pool demolition service can be a good business to start with and you can gain experience and expertise through the years.
- Make a research. Before putting up a small demolition service, you must first do a research of different demolition companies in your local area. You will have an idea of the potential for your company to be success. It will be better if you really start with a small-scale demolition company.
- Manual and mechanical demolition. Manual involve wiring, plumbing, pool fill in, concrete removal, metal, wood and other materials that has something to do with residential structures. Mechanical demolition involves demolition of larger buildings and structures and requires more equipment and huge capital investment.
- Green demolition. New areas for deconstruction of structures that is environmentally friendly and promotes recycle of original construction materials. The building is carefully dismantled instead of demolished to limit the amount of waste and debris that would end up in landfills.
Draft a business plan. This would be the framework of your small-scale demolition company. It can help you with bank loan when you need money. The business plan should include the strategy you will be using, the type of demolition company, the insurance and needed equipment, your specific goals when putting up a demolition business and lastly, the number of employees you’re hiring.
- If you can’t do the business plan by yourself, there are companies who can help you with the process. You just need to find the right company that will suit your needs when it comes to demolition services.
Get a business license. You can do this by paying a visit to the proper government office of your area wherein you plan to put up a business. If you want to put up a spa removal in GTA, then visit the GTA government or if you want to open your business of concrete removal in Ontario, then Ontario government is the one you need. They would also ask for the contractor’s license and the local government should provide that data too.
Avail the right type of insurance. In this type of business, you need to get liability insurance and the worker’s compensation insurance. Also, you need to get demolition insurance once you started to accept jobs. This is a must before you submit a bid to the client.
- Inquire first about the insurance with different companies to you will be able to know the best rates and insurance package that will fit your company’s needs.
- Size and type of Demolition Company is important. It will determine how much insurance you need to put up. The smaller company is the less required insurance.
Be a success in your demolition business!