Why You Should Hire a Contractor For Residential Concrete Work Near Me

Residential concrete work requires a lot of knowledge and construction expertise. This is why homeowners should always hire a qualified residential concrete contractor to complete their concrete project.

Goldberg says his company offers a one-year warranty on their work, and that he’ll come out to repair any discoloration or surface spalling. He also teaches architects how to properly specify concrete.

Business Plan

If you have experience in the construction industry, you may be ready to start your own concrete company. A well-written business plan is essential for a startup and can help you secure funding from potential investors. The plan should include a description of the business, its services, market analysis and three to five years of financial planning.

The startup costs of a concrete business can be expensive, but you can expect to recoup most expenses within the first few months in business. The most significant startup costs are a work vehicle and equipment like a concrete mixer. You’ll also need to spend money on advertising and marketing.

To make your business more professional, you should get a business credit card for business purchases and separate personal expenses from your business accounts. You should also have enough funds to pay yourself until you begin receiving payments for your completed jobs. Consider registering your business as a C corporation to provide you with limited liability and the ability to have shareholders.

Licenses

When a residential project involves concrete, hiring a professional is typically the best route. A concrete contractor can provide expert advice on how to prepare the area, pour the concrete, and add any requested finishing touches. They will also ensure the proper curing process is followed to ensure the concrete sets properly and lasts for a long time.

Anyone engaged in construction or alteration work in the State of Nevada must be licensed. Licenses can be obtained for individuals, general partnerships, limited partnerships, and corporations.

In order to be licensed, an applicant must pass a trade exam. In addition, applicants must submit a financial statement and bank verification form. The financial statement must be prepared and certified by a Certified Public Accountant and include a classified balance sheet. A personal statement is required for sole proprietors and each of the partners in a general partnership. The statement must be current within one year from the date of the application.

Equipment

Cement is the primary material used in residential concrete projects, but many homeowners also use it for decorative and surface coating work. A qualified concrete company will have multiple people on their crew and the right equipment to choose the best concrete mix, install the formwork correctly and ensure that the concrete is properly shaped and smoothed before it sets.

A concrete business needs a vehicle to haul the equipment and materials from job to job, as well as tools and other items like a concrete mixer. The cost of purchasing and maintaining this equipment can be a significant barrier to starting a new concrete company, but it’s an investment that can pay off with the first jobs completed and the revenue generated from those jobs.

Purchasing or renting a pump truck can also be expensive, but it’s essential for pouring concrete in locations that are difficult to reach. Other equipment needed for residential concrete work includes a laser level, power screed, shears and benders, rebar cutters and tie-ers, and a diesel air compressor with hammer.

Insurance

Concrete contractors often perform work that has a high risk of personal injury. Adding an extra level of liability insurance is an important part of any business. A policy typically covers third-party bodily injury and property damage. Some insurers also include product liability, which covers faulty products your company sells or provides to clients.

If your employees are involved in an accident, workers’ compensation may cover their medical expenses and lost wages. It’s usually required by law in most states. Additionally, if a client sues your concrete contracting company for alleged discrimination or harassment, employment practice liability insurance will pay for legal fees and settlement costs.

Commercial property insurance protects your business assets from damage, such as from fire or water damage. It might also cover the cost to rebuild or replace a building. Typically, it is offered in packages with general and professional liability insurance and a business owner’s policy. CoverWallet, for instance, offers this insurance through a contractor’s package with options to add professional liability and commercial auto insurance.

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