If you have been in the masonry trade for quite some time then why not make a business out of it and learn how to start your own masonry business? You will become your own boss, be able to work from home and can earn much more money than you are making now.
The chances of success in this type of business is also fairly high since large companies do not bother dealing with small masonry repairs. You have a window of opportunity to make the big bucks quick but you need to make sure that you set up your business correctly first.
Read along for some tips to help you build up your business.
What is a Masonry Business?
As a mason, who owns a masonry business using a range of materials like stone and brick to assist in building homes is a regular occurrence.
Masons have a broad range of experiences that can help home owners achieve their dream home. Stonemasonry work includes:
- internal or external stone walls
- stone veneer facing or cladding
- stonemasonry staircases
- stonemasonry pointing
- minor non-structural concreting needed to support stone masonry work
- flashing related to stonemasonry work
- stone flagging
Getting Started: The Pre-Planning Steps
Research
To run a masonry business you firstly, will need to do some research on what you are going to need in terms of equipment. You must organise a supplier who will provide the basics such as bricks and stones which you will use for each customer.
You must also consider the type of fixtures and equipment you will need to operate your business. You should do comprehensive research to find the best deals to optimise the profitability of your business.
Make the Most of Technology
In addition to your range of tools, you need to spend time researching how you can make the most of technology. Technology can increase your efficiency and make your business seem established. Start investing in tablets and smartphones so that you can showcase your work to clients. It also makes it easier to share files with your employees and clients.
Location
It is important to choose an appropriate location where you can operate your business. This will affect who the clients you are able to serve.
Develop a Masonry Business Plan
Excellent planning will often lead to success. Using your research, you should develop a formal business plan to guide your business. This might include your:
- Business objectives and goals
- Business structure
- Target market
- Competition
- Marketing strategy
You can always seek assistance from a professional accountant or business lawyer to assist you with this, if you aren’t confident in developing a business plan yourself. It’s important to revisit and review your business plan regularly.
Determining a Masonry Business Name
Now you need to decide on a business name. Once you decide on your name, you can check the availability of the business name you have chosen.
If the name is available, you can then register your business as a trademark to ensure that you have the exclusive rights to your business name throughout Australia.
Determining your Business Structure
You will need to decide on a business structure to establish your business plan. Consider whether you will operate as one of the following.
- A sole trader is someone who owns and operates a business under their personal name.
- A partnership is when two or more people come together to form a business.
- A Masonry company is when you register your business as a separate entity from your personal affairs.
You should contemplate which structure will work best for your business goals. It is important to know what the legal ramifications are of each structure and how they can affect how you operate.
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Registering your Business
You need to register for a few things in order to make your business official. For instance:
- A business name
- An Australian Business Number (ABN) to help the Australian Tax Office (ATO) and customers identify your business.
- It would be good practice to also register your business as a company (ACN) so you can benefit from limited liability.
- Register your Tax requirements.
- Ensure that all relevant licences or permits are valid.
Source Insurance
It is strongly recommended that you get insurance to protect your masonry business from the unexpected. This will protect you and your staff if anyone ever gets into an accident on the job.
Be sure to also sign up to a bond to protect your clients from any damage caused to the property. You should aim for policies that cover at least $500,000 worth of damage. By doing so, clients will be more inclined to seek the service of your business as they will be assured that they are protected in unforeseen events.
Hire Employees
It is obvious that when asking how to start your own masonry business, you should consider if you will need any operational help. Make sure that all of your staff are qualified and covered under your insurance policies.
You will need to decide how many employees you are looking to hire and what type of employment they will receive. Will they be full time, part time or casual workers? You will then need the appropriate employment agreements drawn up and signed.
Market your Masonry Business
It is vital that people are aware of your business. Since you will be new to the game, you need to think about how you will stand out from the crowd. Will you be cheaper than your competitors? Are you going to finish the projects faster? Are your staff more qualified? Be sure to market your differentiating factors on your advertisement platforms.
Make the most of True Local and the Yellow Pages, that way people in your area can find you. In addition, utilise social media platforms, such as Facebook and Instagram.
Having an online presence is important even for construction companies. Using websites like Shopify or GoDaddy can help you create a well-established business so that your customers can easily find you. Additionally, you should set up and maintain a website which means you need to consider any website terms and conditions to ensure that your customers are safe.
Learn more about how to market your business in this webinar.
Considering the Law
We understand that if you are reading this then you probably have years of masonry experience behind you. Nevertheless, if you are starting a business then it is ideal that you get your contractor license.
The requirements vary from state to state so check with your labour department. Remember, client impression is half the battle. At a small cost, you will be satisfying your legal duties and showing potential customers that your business is legitimate.
For example In NSW, masonry is regulated by NSW Fair Trading.
License Types
There are different types of licences available in NSW depending on whether you want to contract for another party or supervise work. They are as follows:
- A contractor licence allows you to contract and advertise to do work.
- A qualified supervisor certificate allows you to supervise and do the work described on your certificate.
- An endorsed contractor licence is issued to individuals who apply for a contractor licence and who also have the qualifications and experience needed to be a qualified supervisor.
Qualifications Required
It is required that you complete one of the following courses:
- Certificate III in Stonemasonry (Monumental/Installation); or
- Certificate III in Stonemasonry TAFE course #8032; or
- Qualification Certificate III in Stonemasonry TAFE course #2109; or
- Certificate III in Stonemasonry, Trade TAFE course #5138.
How Lawpath Can Help
As seen from above, understanding how to start your own masonry business is an exciting, yet strategic, process. Before starting, be sure to sit down and plan ahead. Write down your business goals and the amount of money you are prepared to allocate to this business. Preparing a timeline is also recommended.
At Lawpath, we can help guide you through starting your own masonry business. One of our Experienced Construction Lawyers can provide you with all the legal information and requirements necessary for your business to succeed.
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