Whether big or small, we all know that starting up a business isn’t exactly a simple task – unless you are business-minded or have previous experience, it can be filled with many hidden pitfalls and unforeseen risks. A successful business venture is built through a combination of thorough research and the seeking out of sound advice.
Fundamentally, a scaffolding company is essentially the same as any other business – profit is made from providing a service. However, once the structure of your business has been sorted out and a business plan put in place, the specific areas in which your business operates need addressing.
Money for Lunch spoke with RH Scaffolding a London scaffolding firm who gave us the 5tips below that highlight the most important aspects of starting a scaffolding company, whether you are purchasing an existing business or are starting from scratch.
Yard
Like the start-up of any business, you have to ask yourself where you’ll be operating from. Is the location beneficial to you? When setting up a scaffolding company, it’s crucial to consider various factors beyond just the rent.Have you thought about additional expenses like rates and essential services such as water and electricity, as well as potential upgrades like a seattle fuse box upgrade? Ensuring a smooth operation also involves obtaining land permission and securing an operating license without any limitations, such as specific working hours and the size of vehicles allowed on-site. For your electrical needs, including compliance with regulations like eicr tests, trust the experienced professionals to ensure safety and efficiency. You can learn more about custom electrical solutions at suburbanenterprises.com.
Overlooking any of these factors could potentially end your venture before it has even started.
Vehicles
Depending on the size of your company, and taking into account any future plans, you need to consider what size vehicle you’ll need, from 7.5 tons to 16 tons. Do you or your employees hold the correct licence to operate vehicles of this size? Have you looked into maintenance and the running costs and included them in your business plan?
Materials& Equipment
It is important you work out how much equipment you’ll require to operate efficiently and to a high standard. Judge how many days a week you’ll be erecting scaffolding and ensure you have yourself covered. Don’t go mad; you can always purchase or hire more once you get a feel for work volume. Like I said in the opening of this article, research is key, so contacting scaffolding companies and suppliers and collecting quotes will get you a realistic figure. Ensure you look around and get a wide range of quotes to see who are cheapest and what they offer. Notching up a big order typically won’t come with a delivery charge, so as long as you consider delivery times if going with a firm the other size of the country, you shouldn’t have any problems. However, if you think you’ll be receiving a higher volume of smaller orders, try and negotiate a deal with a local supplier and gain good rates.
Work Volume
Above everything comes the question of where you’ll be drumming up business and who’ll you’ll be getting it from. You may already have contacts, contractors and customers waiting to go; however, if you don’t, you’ll seriously need to have a think and consider, who, where and how when it comes to customers and business.
Perhaps you have all the above covered, but have you thought about work volume, targets, and costs? Work out a cost analysis based upon all your outlays, such as start up costs or weekly running costs. How will you work out your charges or rates? Again, this is where research and advice comes in, phone calls and emails to various businesses vital in collecting realistic quotes.
Insurance
This goes without saying, but before starting any business, particularly a scaffolding company, insurance is so important – you can’t operate without it. The Internet is your friend when it comes to whittling down the hundreds of insurance companies out there. You could call around and see if there’s a particular insurance company used by scaffolding businesses. You can get a full package of medical insurance for entrepreneurs in case anything bad happens. Additionally, consulting with a professional indem new zealand consultant can provide valuable insights and guidance in ensuring comprehensive coverage for your business.
Once you have found an insurer, make sure you have the correct cover and avoid twisting the truth to knock down the premium – should anything happen and the truth be known, the insurance will be null and void, potentially shutting you down.
Once you are confident you have these 5 bases covered, you’ll have enough knowledge to take the plunge and get your company off the ground. But remember, although these are the 5 pillars supporting a company’s success, maintaining them requires constant research and the asking ofsound advice.
