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Become a Successful Contractor

The path to becoming a successful contractor is having a passion for working with your hands in all conditions and learning the trade.

Some will learn skills from a family member, while others will know the trade through on-the-job training or a high school, technical school, or college program.

The construction industry is an outstanding career. According to the U.S. Bureau of Labor Statistics, the median pay for 2020 was $49,520.

The construction industry offers opportunities to work independently or with teams.

Construction companies may offer a range of services or specialize in a particular type of project.

On top of learning the craft, an understanding of the business is needed to operate a construction company. Search for a mentor. That person can be another contractor, a trade association, or someone from Score.

The amount of knowledge needed to run a business can be overwhelming, let alone a construction company. Build a team that includes people filling in where your weaknesses are. Accurate recordkeeping is a necessary part of business, so find a competent person to handle your financial information. Look for advice and form relationships with an accountant, tax preparer, and banker.

Each state has its own set of rules for licensing requirements. Some states only require a fee, while others require education and testing. Your state department of licensing determines what will be required. After you have your name, registered your business with your Secretary of State, and obtained any required licenses, the hard work of being a business owner begins.

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