Building A Construction Business from Scratch in Australia
- Written by NewsServices.com
The Construction industry in Australia is a 360-billion-dollar industry with a growth rate of 2.4% for the next five years. It currently produces more than 9% of Australia’s GDP. No doubt on how profitable this business is, thus tradies with capital are diving in to start their Construction Business. We built a step-by-step guide for anyone willing to put in the work and build a construction company from scratch.
- Analyze the competitors
- Craft Plan and Goals
- License and Registration
- Assemble your team
- Growth and Marketing
Competitor Analysis for Construction Business
It is imperative to conduct in-depth market research before you jump off to your business venture. First, analyze closely what the competitors are doing. Then, create a list of companies based on their size, from big fish to smaller ones.
Once you have that, analyze them top to bottom. Understanding the viability of competitor companies if the market is oversaturated, then niche down your target while keeping the option open for expansion.
Create a Full Proof Business Plan
Whether you get to implement the entire plan or not, it is always essential to have a plan to follow along. Things will always go sideways; the goal is to try your best to stay on track. You cannot just open up your business without a proper. We compiled a shortlist for you to follow along.
- Company Structure
- HR, Safety structure
- Your Services structure
- Target Market
- Accounting, cost, billing, funding structure
- Company growth and marketing structure
Proper Licensing and Business Registration
Depending on where you want to conduct your business, you need to get a license based on that location. For example, you cannot conduct business in New South Wales if you have a Queens Land or Tasmania license.
To acquire a proper trade License, you need to have relevant RPL qualifications first. And to get the RPL qualifications it would help if you complete trade Courses first from Building Institute.
It would help if you have two to three years of experience; you could be qualified for RPL. There are a lot more steps to get the certification for this. If you want to avoid all sorts of hassle and qualify for RPL qualification, you should contact RPL Qualifier Companies. The Best company for Tradie RPL Qualifications is Educube. Educube can get you qualified for RPL and provide your license for any state within mere weeks. Educube provides super fast RPL certification in Australia.
Once your qualifications and licensing are complete, you should focus on business registrations. Depending on your business structure, such as LTD, Sole Proprietor, LLC, etc., you need to get your company registered. You need to apply for ABN Australian Business Number via the Business Registrations Service.
Team Assembly for Construction Business
Your team can be divided into three categories.
- Tradie Worker Team
- Management, Accounting Team
- Marketing Team
The first tradie team is your raw manpower. Make sure to hire the right amount of people based on your work. While hiring a tradie, make sure they have the proper experience and RPL certifications authenticating their skills.
To keep things in order, you need to hire management and an accountant. The best way to hire an accountant would be through referral. Don’t forget to check their personality, fees, and service capabilities. When hiring the management or HR, you should check for reliability, flexibility, critical thinking capacity, and tech-savvy for HR software.
It would help if you wrote the SOPs yourself and give employees the freedom to use their creativity and experience to increase productivity.
Marketing & Growth for Construction Business
If you have the budget, then you should spend on both types of marketing.
- Offline marketing
- Digital Marketing
Offline Marketing
Online marketing is the most potent and efficient way to reach your target audience today, but there comes a time when it is essential to go off the grid and promote your business offline. Offline marketing, also a form of local marketing, involves promotional activities that are super focused on the target audience.
- Networking locally
- Posters, flyers, brochures & business cards
- Branded Vehicle Vinyl
- Custom Printed Branded T-shirts
- Tv or Radio Ads
Digital Marketing
Digital marketing is a must-know skill for every business owner. But, whether you do it yourself or hire professionals, you need to learn how to do it well. Multiple strategies can be implemented, but the easiest way to follow what the competitors are doing and replicate the process. But there are some steps you need to follow.
- Set up your business website
- Include a blog in the company portfolio website
- Implement SEO strategies
- Create a monthly budget for google ads
- A monthly budget for Facebook ads
- Set up Email marketing campaigns
These steps should be enough to get you started. The growth of your construction company begins here. To wrap it all up, start from niche services then expand to broader ones. Target one area first; once you see the growth of the revenue curve, then get your builders license for other states in Australia.
Visit Builder Registration if you are interested in builder licenses.
