Trade skills are currently in decline, as many baby boomers leaving their industry for retirement. Launching a trade business could, therefore, help you to meet the growing demand for trade skills while ensuring you enjoy a steady, healthy profit. Here are the four best trade businesses to start from scratch.
- Electrician Company
Electricians are responsible for designing, installing, repairing, and maintaining electrical wiring and control systems in residential, commercial, and industrial buildings. For this reason, it is a sought-after profession in multiple industries, especially construction. It can become an excellent career and business opportunity. However, every electrician on staff will need between four to five years’ training or experience.
- A Welding Business
Welding is a specialized skill that is needed in various industries, such as construction, auto body repair, metal fabrication, shipbuilding, oil and gas, and forestry. It means that skilled welders and welding companies are always in demand in multiple industries. However, it can be a dangerous profession, so you must provide all staff with the appropriate protective equipment, such as welding gloves, boots, and helmets, auto darkening preferrable; read here to learn more about the best equipment for your new welding business.
You must also be willing to travel and work in remote locations and in arduous conditions. Most welding companies start out with one mobile welding contractor, who may then rent or buy shop space and hire certified welders to expand the business. Every welder within the company must have technical welding training, as well as an apprenticeship that leads to certification.
- A Plumbing Business
Demand for both plumbers and pipefitters are expected to considerably grow until 2026, so a plumbing business can be an ideal venture. Your company will ultimately be responsible for designing, installing, and repairing piping, appliances, and water disposal systems in homes, industrial plants, and businesses. You will also need to provide staff with training in the form of an apprenticeship and education, and they will also need a license or certification to become a professional plumber.
- HVAC Technician Company
HVAC technicians must install, repair, and maintain various residential heating, air conditioning, ventilation, and refrigeration units. Many can also specialize in sprinkling systems, fire protection, building and facilities maintenance, and oil and gas burners, and these skills could ultimately provide new companies with a competitive advantage.
Demand for HVAC specialists is expected to grow over the next decade, so it could be the ideal time for a self-employed HVAC technician to launch his own company. In addition to one-off jobs, companies should try to enjoy a steady cash flow by providing clients with service contracts. However, every technician on your payroll must have the correct certification for your state and provinces, and they must have experienced on-the-job training and several years post-secondary education.
In addition to gaining experience in your chosen trade and hiring the best tradespeople for the job, you must also create a solid business plan, register for a business structure and taxes, and insure the company before you market your new venture.