If you’re looking to start a general contractor business, there has never been a better time to enter the market. According to the U.S. Chamber of Commerce, the average backlog of projects for general contractors is a little over 9 months. The need for general contractors is on the rise with construction spending topping over $1 trillion dollars a year. And, thanks to an increase in housing demand, chances are the construction industry won’t be slowing down any time soon.
Starting your own general contractor business is a great way to earn a living while leveraging both your construction knowledge and management skills. To take full advantage of these skill sets and maximize your chances for success, it is important that you become as fluent on the business side of things as you are on the construction side. This includes creating a solid business plan, acquiring the proper business licenses and permits, building a team of reliable subcontractors, and more.