A new construction business requires many things, including getting insurance, finding the right employees and selecting quality equipment. Unfortunately, it has one of the highest failure rates, but this does not mean it will fail.
You can research your market and create a plan for how your business will run. Getting help is also a good idea, as you can avoid many of the common pitfalls new construction companies face.
Did you know?
The construction industry employs over 40 million people and has a huge pool of low-cost workers. The government has offered many flagship programs like Make in India, Housing for All and Smart Cities.
Is the Construction Business Profitable in India?
How to Start a Building Material Business?
We will walk you through the most important steps to get your construction company off the ground. We've also provided some top building materials business ideas.
Starting a building material business demands a lot of planning. There can be many ideas to work on, but you should go with something that keeps you composed, confident and satisfied. Evaluate your skills, and think about which building material business will suit you the most. Keep in mind that you can't generate high income in any industry by working half-heartedly.
Also Read: Know About India's Top Ten Cement Companies
1. Trade-Based Business
Construction is responsible for building structures, and the trade industry ensures that the structure is functional and up-to-date. A business based on trade can be a great choice if you have the knowledge and experience in that trade.
If you are licenced as a plumber, you can start your own plumbing company to install plumbing at new buildings in your locality. You can also start your own electrical contracting company to help construction organisations wire their buildings properly if you are an electrician.
You can start your own carpentry business if you are an exceptional woodworker. Besides that, you can open a general repair business if you're more of a jack of all trades type. Whatever trade you specialise in, you could also build a business related to construction.
2. Agent for Property
The construction industry is always looking for property brokers to help them sell their properties. Customers also look for reliable real estate brokers to help them find the right accommodation. You can easily start a real estate agency business if you are a good networker and have excellent communication skills. It is one of the most lucrative business ideas in construction.
3. Construction Site Management
It is not easy to run a successful construction site, and construction companies often need outside assistance in keeping things moving on schedule. There are many construction business opportunities for those who specialize in construction management, especially with the ongoing digital transformation in building materials industry. You might be able to offer land surveying services to assess the land before your company begins building.
Also, you might manage logistics for material supply to construction sites to ensure that all building materials reach on time and at the right cost. You might also offer individual management services to ensure that workers finish projects on time.
4. Aluminium Door and Window Manufacturing
Aluminium door window manufacturing with various frames and fittings is a lucrative manufacturing opportunity in India's construction industry. You can manufacture items made from aluminium, such as doors, windows and railings to verandas, corridors, staircases, handrails, supports, etc. They are now a standard feature in modern buildings.
5. Cleaning construction
Construction can be messy. If you are good at cleaning up, starting a cleaning company could be a fantastic way to break into the construction business. You can offer a variety of cleaning services to construction companies. You may provide daily cleaning services to clear debris from each building, or you could provide services of cleaning for completed residential properties to make them ready for potential buyers.
Ensure you have the right tools and supplies for whatever cleaning business you choose to start. For instance, eliminating debris from a construction site will require different tools than cleaning up a home that is ready to be rented.
6. Barbed Wire Manufacturing
Anyone can start a small-scale business with an automated barbed wire machine. Barbed wires are essential for security and protection, they are easy to manufacture, and you can also buy the raw material in bulk.
7. Construction Supply Organisation
Construction organsations require materials to construct, so why not create a business which supplies these materials?
You might partner with various construction companies to build a construction business that specialises in raw & business materials. You can also collaborate on specialised projects such as roofing, interlocking slabs for outside patios, ceramic tiles or even construction tools like shovels and railings.
8. Ceramic Glazed Tiles Manufacturing
Ceramic glazed tiles are specially made with a glaze applied. Glazed tiles have a shine on their surfaces, and these tiles are produced in a wide variety of colours and hues.
9. Interior design
Construction organisations are responsible for building homes and commercial buildings. They ensure the buildings are safe, sound and well-built but aren't responsible for their beauty. That's where interior designers come in. Interior design is a great way for you to express your creativity and get a foot in the building sector. There are many opportunities for interior design outside of construction.
You can partner with builders to provide interior decoration services for their new buildings. But, it's not just about being able to pitch your services to clients directly. You can showcase your work on Pinterest and Instagram, and it can assist you in getting more opportunities for a financially strong business.
10. Landscaping
It doesn't matter what type of construction a company builds, and it has a good chance the outside lawn or yard will need to be planted and maintained. That is why landscaping and lawn maintenance can be profitable construction businesses.
Depending on your expertise, there are several kinds of businesses that you can start in landscaping & lawn care. Do you enjoy the design aspect of landscaping? You might consider offering landscaping and architecture services for new constructions.
Are you looking to have a steady and regular stream of work? After the construction has been completed, you can start a lawn care company that provides maintenance services such as weeding and mowing.
Also Read: How to Begin a Tiles Business?
11. Floor Tiles
Ceramic Glazed tiles have a porous base with a coloured or white glaze. They are used extensively in bathrooms, kitchens and toilets on railway platforms, hospitals, analytical laboratories. This business is very lucrative in terms of revenue.
Conclusion
Although it is not easy to start a building materials business, you can do it with the right support. You now know what to expect and how to proceed without suffering losses. As a construction contractor, your customers put their houses in your hands, trusting your professional capabilities. It should be your top priority to serve them in the best and most genuine way possible.
Any business that requires a lot of calculation of paying and crediting consumes a lot of time. However, making the payment system online can be the best solution.
Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.
