Perhaps you’re thinking of joining the construction industry in Houston. But you have no idea where to begin, whether there’s a market, or the factors to consider before taking a big leap.
These points will help answer some of your concerns:
1. There is a market
Construction will be one of the industries in Houston that will remain upbeat. Experts believe the city will add about 28,000 jobs. The Hurricane Harvey left a trail of destroyed buildings, homes, and roads. These will require repair and improvement.
Houston is also one of the cities with a possible higher growth rate for non-residential projects. Old Castle’s report suggested construction-start spend will be about 14 percent.
But you may meet two challenges along the way. First is the shortage of labor, which can delay projects. The second is the increased cost of labor mainly due to the lack of available skilled people.
2. You can cut back on costs
Construction is usually capital intensive. Fortunately, you have various options to cut back on spending or get smart with finances. One, you can opt for cranes for heavy lifting for rent in Houston. This allows you to maximize your initial outlay by not letting expensive equipment eat it up.
You can also secure financing. Many offer affordable interest and ideal payment terms. Business loans can help you stretch your budget as well.
3. Take care of those permits and licenses
Permits and licenses take both time and money. If you’re a contractor, the city doesn’t require you to have a license, but you need to have the right permits. These are valid for only 180 days, but you renew them every time you make a transaction. You can also extend your licenses to another 180 days. If the construction project involves the city’s gutters, roads, or sidewalks, you also need to pay a yearly bond of $2,000.
All these can add more days to your business and take some from your coffers.
Regardless, Houston is a great city for those who like to be in construction. Many associations can also help you get started. With their help and the ideas above, you are less likely to feel scared or overwhelmed.