The pandemic has led to many people rethinking their life, and especially their work. After a turbulent year of instability for jobs and the economy, many people are now questioning whether setting up their own business is the right choice to make at such a time.
However, during the past year, many businesses have actually succeeded more so than ever before. With us being forced to stay at home for a long time, the construction, design, home interior and trade industries have significantly boomed, with more people taking on DIY projects at home and making home renovation the top of their priorities.
In light of this, the need for Welders has also grown over the past year and so setting up a business in this industry could be a very wise decision in 2021. In this article, we discuss the best way to set up a welding business in the current climate.
What type of welding business?
Before preparing your business plan, you need to know which field of welding you want to enter. To help make your decision, you should look into the viability of each field and consider any experience you may have in one particular field too, as experience helps you gain contracts. The different areas of welding include, but are not limited to, stainless steel fabrication, mobile welding services and underwater welding. These are a few of the options, so choose wisely and make sure you get the right welding machine for the work you will be doing.
Qualifications and certifications
To set up your own welding business, you need to have the necessary qualifications and certifications which allow you to practise professional welding. You also need to ensure any employee you may hire as the company develops has the required qualifications too. You can also look into joining both local and national associations for welders so you can network and build your reputation.
You’ll also need to look into whether a permit is needed to practise welding in your local area. Finally, ensure that you stay up to date with learning new techniques in your field, as staying on top of this can only improve your business even more.
Financing
To fund your business, start by using your own funds first, along with business investment from your peers, rather than using a loan. Before you start funding your business, you need to calculate the maximum cost in as much detail as possible, that is needed to cover all expenses. If you don’t have sufficient funds, using crowdfunding platforms is a good way to secure business investment money from your peers.
Employees, partners or freelancers
When running a business it is good to have a support network around you, so that if there were to be any incidents where you can’t run the company, or the workload becomes too much, you have help. Sometimes, it can be very costly to take on permanent employees, especially if work slows down. In this case, it may be a good idea to partner up with other welders when you register your company. Additionally, finding freelancers who would be willing to work for you would be another option, so they can help out whenever you need them rather than permanently.
