8 Advantages of Owning a Construction Business
If you’re on the fence about starting a construction business, it can be useful to remind yourself of the advantages of doing so and to explore the current state of the industry. So, to help you on your way to making the right decision, we’ve provided the top eight advantages of owning a construction company in the UK.
The construction sector covers a remarkable array of jobs and professions. From plumbers to electricians and carpenters to bricklayers, it takes many different talents to ensure that a building is constructed and maintained in just the right way. Consequently, there are lots of franchises for potential investors to choose between when it comes to investing, as most construction businesses will specialise in a different aspect of building maintenance rather than trying to supply a whole range of different services. Today, we have summarised the top eight advantages of owning a construction business, so you can decide if it’s the right career move for you.
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8 advantages of owning a construction business
1. Have an impact in your local area
No matter the type of building you have a role in constructing, it’s going to have a lasting impression on your local community. You can build homes for growing families, create libraries and museums, and keep bridges and roads safe for commuters. If you build a school or hospital, you’ve played a fundamental part in people gaining an education or receiving healthcare. Your construction business’ successful building work can contribute to the area’s visual appeal. So, not only will it be an attractive place for local residents to enjoy, but it could also attract tourists and contribute to the economy.
2. Can see direct results of work
Lots of businesses now operate online and many jobs involve working on a computer. However, many young people want to find more tangible work, where they can create something they can touch and use. It’s safe to say that construction work means you can build something tangible and see the direct process and finished result of your hard work. Lots of tech positions can’t offer this.
Lucrative sector In 2018, the construction industry contributed £117 billion to the UK economy
3. Opportunity for specialisation
The construction industry presents the opportunity for specialisation so you can compete more effectively with other businesses. Instead of simply offering general contracting services, some construction businesses specialise in things like ‘green construction’ or new work for example. When companies specialise in certain jobs, they can streamline their production so workers can hone skills and become familiar with specific processes, which should contribute to safety and efficiency overall.
4. It suits lots of different skillsets
Because the construction industry is so diverse, there’s something for most people’s skillsets and passions, so you can manage a team of individuals with lots different expertise who can work together to achieve the same goal. Whether employees are after a desk job, something more hands-on or being a team leader, they can probably find something suitable with plastering, bricklaying, engineering or surveying. And as the business owner, you can decide what role you want to have in the business.
5. Can start off small
The great thing about construction businesses is that they aren’t too difficult to get off the ground and you can get started with a small team of employees working on small projects. In the early stages, you can hire additional labour only when needed for larger projects. If you try to keep your monthly overheads as low as possible, you can make competitive bids in comparison to larger businesses that have to offer higher prices to support their weighty overheads.
6. Keeps you active
It’s not uncommon knowledge that sitting down all day has negative consequences for your health. Working in construction means you have the change to be more physically fit (if you choose to).
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7. Good job security
While construction jobs do usually last for a certain period of time, there are always going to be new developments coming up that need the services of a construction business.
8. Providing a solution to human need
It might seem old-fashioned, but construction comes under the ‘good, honest work’ umbrella. Thanks to skilled tradesmen, we have places to work, live and have fun in.
The current state of the construction industry
In 2018, the construction industry contributed £117 billion to the UK economy. There are currently more than 314,500 firms operating in the construction sector, employing over 2.7 million people (Statista). As more and more homes and offices are needed to accommodate the growing population, construction work is continually in demand. This, of course, is great news for entrepreneurs hoping to break into the industry.
It’s also predicted that the global construction market will grow by $8 trillion to reach $15.5 trillion by 2030.
Start your own construction business today
If you’re keen to start a business with a construction franchise, you’re in the right place. Simply browse our list of opportunities here. Once you’ve narrowed down your options, you’ll need to get in touch with the franchisors and work out which business best fits your requirements. You can also check out the top eight construction businesses in the UK.
Whichever stage of the process you’re in, take your time and don’t be pressured into rushing. The extra information you uncover in the early stages could save you a significant amount of time, stress and money further down the line.
Want to learn more advantages of different businesses? We have plenty of articles addressing exactly that.
- 5 advantages of running sports, fitness or gym franchise
- 8 advantages of running a hair, beauty or cosmetics business
Becky Martin, Point Franchise ©
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