Dreaming of launching your own construction empire? Understanding the foundational steps is paramount to your success, from securing initial funding to navigating regulatory hurdles. Ready to build a solid financial blueprint for your venture? Explore how a robust construction financial model can be your blueprint for growth.
Steps to Open a Business Idea
Opening a construction company requires a systematic approach, from initial planning to ongoing operations. The following table outlines the key stages involved in establishing a successful construction business, emphasizing critical considerations for each step.
| Develop A Comprehensive Business Plan For A Construction Company | Creating a detailed business plan is the cornerstone for a construction company, outlining its mission, services, market analysis, financial projections, and operational strategies. A well-researched plan should identify target markets, such as residential remodeling or commercial new builds, and forecast revenue, expenses, and cash flow for at least 3-5 years, with typical gross profit margins in construction ranging from 15% to 25%. It should also address competitive analysis, detailing how the company will differentiate itself. |
| Register Your Construction Company And Obtain Licenses | Registering your construction company and securing all necessary licenses is a critical legal requirement to ensure compliance and the right to operate. This involves selecting a legal structure, registering with the state, and obtaining an Employer Identification Number (EIN) from the IRS. The process also includes applying for state contractor licenses, which often necessitate passing an exam, proving financial solvency, and demonstrating relevant experience, alongside obtaining local business permits and understanding specific project-related permits. |
| Secure Adequate Insurance And Bonding For A Construction Company | Securing appropriate insurance and bonding is paramount for a construction company to mitigate risks, manage liabilities, and qualify for projects. Essential coverage includes general liability, workers' compensation, and commercial auto insurance. Performance and payment bonds are frequently required for public works and larger private contracts. Property and professional liability insurance are also advisable, with annual premiums varying based on coverage needs. |
| Acquire Essential Equipment And Software For A Construction Company | Acquiring necessary equipment and software is vital for the operational efficiency and project management capabilities of a construction company. Initial equipment may include a work truck, power tools, and safety gear. For larger projects, specialized equipment might be leased or purchased. Implementing construction project management software is crucial for scheduling, budgeting, and communication, with subscription costs varying based on features and scale. |
| Build A Strong Team And Implement Safety Protocols For A Construction Company | Building a skilled team and establishing rigorous safety protocols are crucial for the success and reputation of a construction company. Hiring involves recruiting experienced tradespeople, with average hourly wages varying by skill. Developing a comprehensive safety program, including regular OSHA-compliant training, is non-negotiable, as construction has a high fatality rate. A strong safety record can also lead to reduced insurance premiums and enhanced project eligibility. |
| Develop Effective Marketing Strategies For A Construction Company | Developing effective marketing strategies is essential for acquiring clients and building a strong reputation for a construction company. Creating a professional website is paramount, showcasing past projects and services. Leveraging local SEO, online directories, and social media are highly effective. Networking with industry professionals and soliciting client referrals are also key for initial client acquisition. |
| Establish Financial Management And Pricing Strategies For A Construction Company | Establishing robust financial management and clear pricing strategies are vital for the long-term profitability and sustainability of a construction company. Implementing accounting software is crucial for tracking finances. Developing a methodology for bidding on projects, considering direct and indirect costs, and desired profit margins is essential. Regularly monitoring cash flow and managing accounts receivable are critical for financial health. |
What Are Key Factors To Consider Before Starting Construction Company?
Launching a construction company, like Apex Build & Design, requires careful consideration of several foundational elements. Understanding the overall construction industry landscape is crucial. This includes recognizing market trends, identifying potential niches, and assessing the competitive environment. For instance, the U.S. construction industry is projected to see significant growth, with an estimated 25% increase in 2024, reaching over $2 trillion. This expansion is fueled by infrastructure projects and sustained residential demand, offering a robust market for new businesses.
Securing the necessary licenses and permits is a non-negotiable step when starting a construction company. These legal requirements vary by state and locality, ensuring compliance and operational legitimacy. For example, obtaining a general contractor license is mandatory in most U.S. states. In California, this typically requires four years of journeyman-level experience or an equivalent educational background. Beyond a general contractor license, specific construction permits will be needed for individual projects, depending on their scope and type.
Developing a robust business plan is essential for any construction business startup. This document serves as a roadmap, outlining your company's goals, strategies, and financial projections. A well-structured business plan for a construction company should detail market analysis, services offered, organizational structure, marketing and sales strategies, and funding requirements. It's the blueprint for how you intend to operate and grow, helping you secure funding and guide decision-making.
Ensuring adequate funding is a critical factor before launching a construction firm. The initial capital needed to start a construction business can vary widely. Estimates suggest that new construction businesses often require anywhere from $10,000 to $250,000. A significant portion of this initial investment goes towards essential equipment. For example, acquiring basic machinery can easily exceed $50,000. Exploring various funding options for new construction companies, such as small business loans, lines of credit, or personal investment, is vital.
Essential Considerations for Launching a Construction Firm
- Industry Knowledge: Deep understanding of market trends, demand, and competition in the construction industry.
- Licensing & Permits: Acquiring all required federal, state, and local contractor licenses and project-specific construction permits.
- Business Plan: Creating a detailed plan covering services, marketing, operations, and financial projections for your construction company.
- Capital Requirements: Estimating and securing sufficient funds for startup costs, including equipment, insurance, and operating expenses.
- Legal Structure: Deciding on the appropriate legal structure (e.g., sole proprietorship, LLC, corporation) for your construction business.
- Insurance: Obtaining necessary insurance policies, such as general liability and workers' compensation.
- Bonding: Understanding and securing performance or surety bonds if required for bidding on projects.
Beyond licenses, securing appropriate insurance is paramount for a construction company. This protects your business from various risks and liabilities inherent in the construction industry. Key insurance policies typically include general liability insurance, which covers property damage and bodily injury, and workers' compensation insurance, which covers medical expenses and lost wages for employees injured on the job. The cost to start a construction business also includes budgeting for these essential insurance premiums.
What Licenses Are Required For A Construction Company?
When starting a construction company like Apex Build & Design, securing the correct licenses and permits is a critical first step. The primary requirement is typically a general contractor license, which is usually issued at the state level. Beyond this, you'll also need local business permits to operate legally within your chosen city or county, and specific construction permits for each project you undertake.
The need for a statewide contractor license varies significantly by location. For instance, the National Association of State Contractors Licensing Boards (NASCLA) reports that 33 states, plus Washington D.C., mandate a statewide general contractor license for commercial projects. Many of these states also extend this requirement to residential construction work, making it essential to research your specific state's regulations.
Typical Licensing Costs for a Construction Company
- State Contractor License Application Fee: Ranges from $50 to $500.
- License Renewal Fees: Can be annual or biennial. For example, Florida's general contractor license renewal costs $205 every two years.
- Local Business Permits: Fees vary widely by municipality, often ranging from $50 to $300 annually.
- Project-Specific Construction Permits: Costs are project-dependent, potentially ranging from a few hundred to several thousand dollars based on the scope and value of the construction work.
It's important to understand that a general contractor license is just one piece of the puzzle when launching a construction business. Depending on the nature of your projects, you may also need specialized permits for electrical, plumbing, roofing, or HVAC work. These are project-specific and are usually obtained after the general building permit is approved. The cost for these can add up, often representing a significant portion of the project's initial budget, sometimes running into the thousands of dollars for larger developments.
How Much Capital Is Needed To Start A Construction Company?
Starting a construction company, like Apex Build & Design, requires careful consideration of startup capital. The amount needed can vary wildly. For a basic operation, you might need anywhere from $10,000 to $50,000. However, if you're planning a larger scale operation, this figure can jump significantly. It's not just about the initial setup; ongoing costs are a major factor.
A recent survey highlighted that a substantial portion of small construction businesses, specifically 48%, reported needing between $25,000 and $100,000 in startup capital. This covers essential elements like initial equipment purchases, securing necessary insurance, and ensuring you have enough working capital to keep things running smoothly from day one.
Startup Capital Breakdown for Construction Businesses
- Equipment Costs: For a small residential construction company, acquiring essential gear such as trucks, tools, and basic machinery can range from $30,000 to $100,000. Commercial ventures, however, will likely face higher costs, potentially needing $150,000 to $500,000 for heavy-duty equipment.
- Working Capital: This is the money set aside for daily operations. It's crucial for covering initial payroll, marketing efforts, and unexpected expenses. For a small firm, working capital often represents 3-6 months of operating costs, which could translate to an additional $15,000 to $50,000. Understanding these figures is key when writing a construction company business plan.
When considering how much capital is needed to start a construction business, it's vital to remember that these figures are estimates. The exact cost to start a construction business depends heavily on your specific niche, the size of your initial projects, and your geographic location. For more in-depth financial planning, resources like financial modeling for construction services in the USA can provide valuable insights.
What Are The Legal Structures For A Construction Company?
When starting a construction company like Apex Build & Design, choosing the right legal structure is a crucial first step. This decision impacts everything from liability and taxes to administrative complexity. The most common options available for a construction business startup include Sole Proprietorship, Partnership, Limited Liability Company (LLC), and Corporations (such as S-Corps or C-Corps).
An LLC is a highly popular choice for many entrepreneurs in the construction industry due to its significant benefit of personal liability protection. This means your personal assets, like your home or car, are generally shielded from business debts and lawsuits. Furthermore, LLCs offer flexible tax options, allowing profits to be passed through directly to the owners' personal income without being taxed at the corporate level. This flexibility is a major draw for businesses looking to optimize their financial structure.
Popular Legal Structures for Construction Businesses
- Sole Proprietorship: Simple to set up, but offers no personal liability protection.
- Partnership: Similar to sole proprietorship but with multiple owners; shared liability.
- Limited Liability Company (LLC): Offers personal liability protection and tax flexibility. Approximately 60% of new small businesses choose this structure.
- Corporation (S-Corp or C-Corp): Provides strong liability protection but involves more complex compliance and higher setup costs.
The cost associated with setting up these structures can vary significantly. For an LLC, filing fees typically range from $50 to $500, depending on the state. For instance, California charges a $70 filing fee for an LLC and an annual $800 franchise tax. Corporations, while offering robust liability protection, come with more intricate setup procedures and ongoing compliance requirements. Initial filing fees for corporations can range from $100 to $1,000, often with higher annual reporting obligations compared to an LLC.
How To Get Funding For A New Construction Company?
When launching Apex Build & Design, securing the right funding is crucial. Many new construction companies turn to a mix of personal investment and external financing. A significant portion of startup capital often comes from personal savings, with some founders investing $20,000 to $50,000 of their own money to get the ball rolling.
Small business loans, particularly those backed by the Small Business Administration (SBA), are a popular route. For instance, SBA 7(a) loans are frequently used by construction businesses. These loans can range widely, but average amounts for construction startups often fall between $100,000 and $500,000. They are attractive due to their competitive interest rates and extended repayment periods, which can ease the financial strain on a new venture.
Equipment financing is another critical component. The cost of heavy machinery, such as excavators or concrete mixers, represents a substantial upfront expense for any construction company. Equipment financing options can cover anywhere from 80% to 100% of the equipment's value. Interest rates for this type of financing typically hover between 5% and 20%, largely depending on the borrower's credit history and the specific equipment being financed.
Beyond larger loans, managing day-to-day cash flow is vital. This is where working capital solutions like invoice factoring or lines of credit become indispensable. These tools are particularly helpful for construction companies that experience payment delays between project milestones. Invoice factoring involves selling your outstanding invoices to a third party for immediate cash, with rates generally ranging from 0.5% to 5% of the invoice value. A line of credit offers flexibility, allowing you to draw funds as needed and repay them, similar to a credit card but often with better terms for business use.
Key Funding Avenues for Construction Startups
- Personal Savings: Often the initial source of capital for many founders.
- Small Business Administration (SBA) Loans: Such as SBA 7(a) loans, offering favorable terms for construction businesses, with average amounts from $100,000 to $500,000.
- Equipment Financing: Covers the significant cost of machinery, often financing 80-100% of the asset's value at rates between 5% and 20%.
- Invoice Factoring: Provides immediate cash for outstanding invoices, typically costing 0.5% to 5% of the invoice amount.
- Business Lines of Credit: Offers flexible access to working capital for managing cash flow gaps.
When seeking external funding, a well-structured business plan is non-negotiable. For a construction business, this plan should detail market analysis, operational strategies, management team bios, and robust financial projections. Data from financialmodel.net suggests that revenue for construction services in the USA can vary significantly, with some businesses generating substantial income. For instance, the median revenue for construction services firms in the USA was $560,000 in 2023, indicating a strong market potential. A solid business plan helps demonstrate the viability of Apex Build & Design to potential lenders and investors.
Develop A Comprehensive Business Plan For A Construction Company
Starting a construction company requires a solid business plan. This document acts as your roadmap, detailing everything from your company's core mission and the services you'll offer to a deep dive into your target market, financial forecasts, and how you'll operate day-to-day. For Apex Build & Design, this plan outlines our commitment to transforming visions into reality with exceptional quality and efficiency.
Define Your Target Market and Services
A crucial part of your construction business startup plan is identifying your niche. For instance, the residential remodeling sector was valued at approximately $450 billion in 2023. Apex Build & Design focuses on premium, seamless client experiences for discerning homeowners and businesses, differentiating us in a crowded market.
Conduct a Thorough Market and Competitive Analysis
Understanding the construction industry landscape is vital. Your business plan should include an analysis of your competitors and how your company, like Apex Build & Design, will stand out. We aim to differentiate by focusing on a premium client experience, a strategy that can allow for project fees that are 10-20% higher than standard offerings.
Outline Financial Projections and Funding Needs
Forecasting your finances is essential for launching a construction firm. Your business plan must project revenue, expenses, and cash flow for at least 3-5 years. Typical gross profit margins in the construction industry hover between 15% and 25%. This section also addresses the capital needed to start a construction business and explores potential funding options for new construction companies.
Key Components of a Construction Business Plan
- Executive Summary: A brief overview of your entire plan.
- Company Description: Details about your construction company's mission, vision, and values.
- Services Offered: Specific types of construction work you will undertake (e.g., residential, commercial, remodeling).
- Market Analysis: Research on the construction industry, target customers, and market size.
- Competitive Analysis: Identifying and evaluating competitors and your unique selling proposition.
- Marketing and Sales Strategy: How you will attract and retain clients.
- Management Team: Information about the key personnel and their experience.
- Operational Plan: How the business will run, including staffing, equipment, and project management.
- Financial Projections: Forecasts for revenue, expenses, cash flow, and profitability.
- Funding Request (if applicable): Amount of funding needed and how it will be used.
Address Operational Strategies and Legalities
When writing a construction company business plan, detailing your operational strategies is key. This includes how you'll manage projects, ensuring compliance with safety regulations for construction companies, and obtaining necessary contractor licenses and construction permits. Apex Build & Design's operational plan emphasizes efficiency and quality control.
Register Your Construction Company And Obtain Licenses
When starting a construction company like Apex Build & Design, the foundational legal step is to register your business and secure all necessary licenses. This ensures you're operating legally and compliantly within your state and local jurisdictions. It's a critical part of launching a construction firm.
The initial registration involves choosing a legal structure for your business. Common options include a Sole Proprietorship, Partnership, Limited Liability Company (LLC), or Corporation. Each has different implications for liability and taxes. Following this, you'll register your chosen structure with your state's Secretary of State. You'll also need to obtain an Employer Identification Number (EIN) from the IRS, which is free and essential for hiring employees and opening business bank accounts.
Key Registration and Licensing Steps
- Choose a Legal Structure: Decide between Sole Proprietorship, Partnership, LLC, or Corporation based on your business needs.
- Register with the State: File the necessary paperwork with your state's Secretary of State to officially form your business entity.
- Obtain an EIN: Apply for a free Employer Identification Number from the IRS for tax purposes and employee identification.
Obtaining a state general contractor license is a significant requirement for most construction business startups. The exact process varies by state, but it commonly involves proving your financial solvency and demonstrating relevant experience. For instance, many states require 2 to 4 years of experience in the construction industry before you can even apply for a general contractor license. You will likely need to pass a comprehensive exam covering business management and construction law.
Beyond state-level licensing, you must also secure local business permits and understand the specific construction permits needed for various project types within your service areas. These can include building permits, electrical permits, plumbing permits, and more, depending on the scope of work. For Apex Build & Design, ensuring all these permits are in order before beginning any project is paramount to avoiding costly delays and legal issues. Researching your local government's requirements is a crucial step in how to open a construction business.
Secure Adequate Insurance And Bonding For A Construction Company
When starting a construction company like Apex Build & Design, protecting your business from unforeseen events is crucial. Adequate insurance and bonding are not just recommended; they are often mandatory to operate legally and to qualify for projects. This coverage safeguards your company against financial ruin due to accidents, property damage, or project failures.
Essential Insurance Types for Construction Businesses
To effectively start a construction company, you need to understand the core insurance policies. These policies are designed to cover a range of potential liabilities that are common in the construction industry. Without them, a single incident could jeopardize your entire business.
- General Liability Insurance: This is fundamental for any construction business startup. It typically covers third-party bodily injury and property damage. A common benchmark is $1 million per occurrence.
- Workers' Compensation Insurance: If you plan on hiring employees, this is a legal requirement in most states. It covers medical expenses and lost wages for employees injured on the job. The cost can range from 2% to 10% of your total payroll.
- Commercial Auto Insurance: Essential for any vehicles used for business purposes, covering liability and physical damage to company vehicles.
Understanding Construction Bonding Requirements
For many construction projects, especially those in the public sector or larger private contracts, you'll need to be bonded. Bonding assures clients that you will complete the project according to the contract terms and pay subcontractors and suppliers. This is a key step in how to open a construction business that handles significant projects.
- Performance Bonds: Guarantees that the contractor will complete the project as specified in the contract.
- Payment Bonds: Ensures that subcontractors and suppliers are paid for their work and materials on the project.
The cost for these bonds typically falls between 0.5% and 3% of the contract value. This percentage can vary based on the contractor's financial stability and track record.
Additional Insurance Considerations for Your Construction Firm
Beyond the core policies, several other insurance types can provide comprehensive protection for a construction company. These are vital for a well-rounded risk management strategy when launching a construction firm.
- Property Insurance: Covers your business property, including your office space and any equipment you own, against damage or theft.
- Professional Liability Insurance (Errors & Omissions): Protects against claims of negligence or errors in your professional services, which can be relevant for design-build firms or companies offering specialized consulting.
The annual premiums for these additional coverages can vary widely, often ranging from a few thousand to tens of thousands of dollars, depending on the scope of your operations and the specific risks involved.
Acquire Essential Equipment And Software For A Construction Company
To successfully launch your construction business, securing the right equipment and software is paramount for operational efficiency and effective project management. This is a critical step when starting construction company operations.
For a new construction business startup, your initial equipment needs might seem daunting. Consider these essentials:
- A reliable work truck, which can cost between $30,000 and $70,000.
- A selection of quality power tools, typically ranging from $5,000 to $15,000.
- Essential safety gear for your team, budgeting around $1,000 to $3,000.
As your projects grow in scale, you’ll likely need more specialized machinery. For larger jobs, you might consider leasing or purchasing items like excavators or forklifts. Leasing costs can vary significantly, from $500 to $5,000 per month. If purchasing outright, expect costs to start from $50,000 and go upwards of $500,000, depending on the equipment.
Essential Software for Construction Project Management
- Implementing robust construction project management software is crucial for keeping your projects on track. This type of software, like Procore or Buildertrend, helps immensely with scheduling, budgeting, and team communication.
- Subscription costs for these platforms typically fall between $99 and $500+ per month, depending on the features and scale of your business. Investing in the right software is key to streamlining operations when launching a construction firm.
Choosing the correct equipment and software from the outset significantly impacts your ability to deliver projects efficiently and professionally, setting a strong foundation for your construction company.
Build A Strong Team And Implement Safety Protocols For A Construction Company
For a construction business startup like Apex Build & Design, assembling a skilled team and prioritizing safety are foundational to success. A well-rounded team ensures quality execution, while a robust safety culture protects your most valuable assets – your people – and safeguards your company's reputation and financial health. This is critical when starting construction company.
Hiring Your First Construction Company Employees
When launching a construction firm, your initial hires should be skilled tradespeople who can immediately contribute to project execution. Think about carpenters, electricians, plumbers, and masons. These individuals are the backbone of any construction project. The average hourly wages for skilled trades in the construction industry can range significantly, often falling between $25 to $45 per hour, depending on the trade, experience, and geographic location. Carefully vetting candidates for both skill and reliability is a vital step in hiring first employees construction company.
Developing a Comprehensive Safety Program
A rigorous safety program is not optional; it's a non-negotiable aspect of operating a construction company. The construction industry unfortunately has one of the highest fatality rates among private industries. In 2022 alone, there were 1,069 fatalities reported in the U.S. construction sector. Implementing regular, OSHA-compliant training is essential. This includes covering topics like fall protection, hazard communication, and proper equipment usage. Adhering to these safety regulations for construction companies protects your workers and demonstrates your commitment to responsible operations.
Benefits of a Strong Safety Record
- Worker Protection: Minimizes accidents and injuries, ensuring your team returns home safely each day.
- Reduced Insurance Costs: A strong safety record can lead to lower insurance premiums, potentially by 5-15%, significantly impacting your construction business startup's bottom line.
- Enhanced Project Eligibility: Many clients and government entities require a proven safety history. A good record can make your company more attractive for bidding on projects.
- Improved Reputation: A commitment to safety builds trust with clients, employees, and the community, aiding in building a strong reputation for your construction company.
Beyond just avoiding accidents, a proactive approach to safety directly impacts your business's financial viability and its ability to secure future work. When considering how to start a construction company, view safety not as an expense, but as a strategic investment that yields substantial returns in the long run.
Develop Effective Marketing Strategies For A Construction Company
To successfully launch Apex Build & Design and find your initial clients in the competitive construction industry, a strong marketing approach is crucial. This involves showcasing your capabilities and building trust from the outset.
Create a Professional Construction Company Website
Your construction company website acts as your digital storefront. It’s the first place potential clients will look to understand your services, see your past work, and gauge your professionalism. A well-designed site can range in cost, typically from $1,000 to $10,000+, depending on complexity and features.
Leverage Local Online Visibility
For a construction business startup, being found locally is key. Implementing local SEO strategies, such as optimizing for search terms like 'construction company near me,' is highly effective. Ensure your business is listed accurately in online directories like Google My Business and Yelp.
Key Online Marketing Tactics for Construction Startups
- Local SEO Optimization: Target keywords relevant to your service area to appear in local search results.
- Online Directories: Maintain consistent and accurate listings on platforms like Google My Business and Yelp.
- Social Media Presence: Utilize platforms like Instagram to visually showcase completed projects, highlighting quality and design.
Build Relationships Through Networking and Referrals
Active networking can significantly boost your client acquisition. Connecting with professionals in related fields, such as real estate agents, architects, and interior designers, can open doors to new opportunities. Don't underestimate the power of word-of-mouth; client referrals are a cornerstone for many successful contractors, often driving between 60% to 80% of new business.
Showcase Your Portfolio Effectively
A robust portfolio is essential for demonstrating your expertise and the quality of your work. For Apex Build & Design, this means high-quality images and detailed descriptions of past projects. This visual evidence is a powerful tool for convincing potential clients of your capabilities when trying to find first clients for your construction company.
Establish Financial Management And Pricing Strategies For A Construction Company
For a construction business startup like Apex Build & Design, getting your finances and pricing right from the start is absolutely critical. It's the backbone that supports growth and prevents common pitfalls in the construction industry.
Implementing solid accounting practices is non-negotiable. Using accounting software helps you keep a close eye on every dollar coming in and going out. This is essential for understanding your profitability and managing cash flow effectively. For instance, popular options like QuickBooks or Xero typically have monthly subscriptions ranging from $30 to $70.
Develop Effective Bidding and Pricing Strategies
A clear methodology for how to bid on construction projects directly impacts your bottom line. Apex Build & Design needs to consider all costs involved. This includes:
- Direct Costs: These are the expenses directly tied to a specific project, such as materials, labor wages, and subcontractors.
- Indirect Costs (Overhead): These are the costs of running your business that aren't tied to a single project, like rent for your office, utilities, insurance, and administrative salaries.
- Desired Profit Margins: It's important to factor in a healthy profit. For many construction companies, this typically falls between 10% and 20% of the total project cost.
Pricing too low can lead to losses, while pricing too high can scare away potential clients. A well-researched bid ensures you cover all expenses and make a reasonable profit, which is key when launching a construction firm.
Monitor Cash Flow and Manage Financial Health
Regularly monitoring your cash flow is vital for a construction company's financial health. You need to ensure you have enough cash on hand to cover immediate expenses, especially with the variable nature of construction projects.
Managing accounts receivable effectively is also crucial. Apex Build & Design should aim to get paid promptly, ideally within 30 to 60 days of invoicing. Furthermore, it's essential to set aside funds for taxes throughout the year. Small businesses often need to reserve an estimated 20% to 35% of their net income for taxes.
These financial disciplines are fundamental steps to start a small construction company and ensure its long-term success and sustainability.