This video and article will explain the various things you have to be prepared to tackle in order to start your electrical contracting business.
Experience
You need 4 years experience in most states to become an electrician. Your experience has to be in your trade, sales, running a business, and hiring. To do this, look for a union and become an apprentice.
Exams
You also need to pass an examination to become a licensed electrical contractor. There are multiple test prep services, and if you become an apprentice your union may offer one, too.
Setting up a Business
To set up a proper business, you first need a name. You’ll need a phone number and email for clients to contact you, and, in this day and age, a website. You also need a financial plan to get a service truck and, probably, a brick and mortar office. These things aren’t cheap.
Insurance
You need multiple insurances to operate a legitimate business. You will need general liability insurance, commercial auto insurance for your van/truck, and worker’s comp insurance for any help you hire. You’ll likely need a company health plan, too.
Taxes
After all of this and finally getting paid, you need to pay taxes. Depending on your state, this can be a major headache
Becoming an electrical contractor is rewarding and offers financial freedom, but make sure you’re ready to put in the hard work to achieve your dream.
.
