crosshair66

(Warning Long Post)

I am doing some research for a business venture that I'm looking to develop. I believe it fills a need, is a job nobody wants to do, and is not effected by market trends.

I have worked for a family owned business for 13 years. The company I work for has done about every kind of concrete and masonry construction that is out there. While I think its great that I have learned a wide variety of skills when it comes to concrete, it has held me back in becoming great at one thing. After 5 years in a management position I am sick of working using someone else systems, policies(or there lack of) and business model. I have researched starting my own residential concrete company(foundations, slabs, footing etc.) but certain things have kept me from taking the plunge.

1. The number of customers building new structures in my area. The cost of living here is high but the population is low. Due to the weather the construction season is 6-8 months making this work very seasonal.

2. The competition, for an area this size it seems that everyone and there brother has a concrete company ( a pick-up and a wheelbarrow). I feel like I can do any job just as good as any of them and better than most. With only so many jobs out there it seems like it would take many years to establish a reputation as someone with something more to offer than the next guy. Most of the small start up companies around here are all underbidding the next guy making it hard to get jobs for the right price.

3. The homeowners, one thing I have learned over the years working for/with homeowners is they think they know a lot more than they do. They always think they could do it cheaper themselves, not to mention they question everything you do. This is very understandable but it becomes a major pain in the butt. You are trying to convince someone something that they know anything about. I realize its part of the job but I believe that valuable time and energy is spent in this area. No matter how great of a service you provide there is always someone who will be unhappy with your work.

I know it can be done and that I could do it but I believe the amount of time, energy and risk involved are greater than the rewards.

My plan is to become a Foundation repair specialist. My company would learn the cause of a foundation problem and use the best foundation repair method to economically fix the residential or commercial property. Here are the reasons that I believe this business will work.

1. Experience, I have over 13 years experience in all types of concrete construction. I enjoy working in the field, training employees, troubleshooting and completing projects in a timely manner.

2. Marketing, unlike a residential concrete business this business would not only be marketed to homeowners but to contractors, remodeling companies, suppliers, private and government inspectors, engineers, architects, investors, real estate agents, banks and insurance companies.

3. Mobility, because most of the materials involved in foundation repair are delivered to the job-site, I would be able to widen my target areas.

4. The competition, when it comes to foundation repair I believe that most concrete contractors are hesitant in getting involved because of the amount of time, risk and manpower. This is why they charge so much to repair or replace foundations. In my experience this is about the biggest pain in the butt type concrete job that is around.

5. The Area, the soils in this area provide my business with plenty of potential targets. The soils here provide many settlement problems, expansive soils and frost heaves. Lack of quality construction also so provides many sites with inadequate soil preparation, therefore unstable foundations.

I am confident in providing the actual service and completing projects in a timely manner. The financing and marketing are the areas I need help with. Let me say that of course I have considered all these questions and I am not expecting people to do all the legwork for me. I am just looking for advice regarding these questions and any other advice you think might help.


1. How would you suggest I conduct market research for this business venture?
2. What kinds of questions would you recommend asking to potential customers?
3. How do I ask potential customers about the current services they use regarding this business?
4. Who else or how else can I market this business.
5. What is the best way to find out about other companies providing this service without tipping them off that you plan on competing with them.
6. What kinds of things can I do to finance this venture.
7. What will help me take the plunge and get rid of the fears of starting a small business.
8. What other free resources can I use to help my company grow and prosper.
9. What kind of company should I start? ( LLC, C corp, sp etc.)
10. What is the key to networking with people that will help my company succeed.

Any advice, comments or help will greatly be appreciated.

If anyone is interested in becoming a mentor please contact me.

Thanks for your time,

Crosshair

bassmaster

Holy crap, are we supposed to read all of this

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J F

Hi cross

look it over again,...shrink it w a y down....more people will look.....

Jay F

Second Look

You're essentially asking "How do I start a foundation repair business?" That's a pretty broad topic and you've touched on a laundry list of potential conversation starters on the subject.

90% or more of your questions have already been answered. If you search the archives and then ask more focused questions you'll probably get better results. Or you may never even come back to see the responses to what you have asked about here.

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L. B. Condulet

What areas within your work radius suffer from geologic instability? Direct mail market to them.

Is there a way to examine past building permits to determine how much of this work was done in the last year? Perhaps all the houses needing this have already been repaired.

Here in Los Angeles many people specialize in this field.

This is quite a narrow niche, you will need to cover a very large area.

dirt diggler

when i saw "warning - long post" - i scoffed and said "hmph - i can show him a long post"


but damn dude




cross hair - is there financial compensation for being a mentor???

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Thanks in advance!!!

Pearce Services

Start with a structural engineer or two, see if they buy into your offering, if not, your all done, if they like your offer, ask for them to consider you in the future, and stay on them with any new advances.

Realtors may be a great place to market, try advertising in areas prone to this issue, near lakes, or other embankment areas, etc.

After you get your first job, do a Professional looking case study. Explain the original problem, with pictures, and the results, compare the cost of what you did to the cost of alternative methods. Send this to every structural engineer, realtor, and anyone else you can think of.

You need to have a warranty that will reinforce your confidence in your methods. This should be promoted, and a copy of your warranty should be handed to every prospect so they know you stand firm behind your method. Use Vendors that offer you the same confidence.

Make sure you are properly insured.

Good luck!

DamionR

My biggest client is in the foundation repair sector. Perhaps I can help with some feedback:


#1 - the market is out there. The hell with the research - get busy building the business.

#2 - The questions you ask your prospects are no different than any other industry. Know what is causing them pain, and know what fixes their problems. Your questions should always revolve around this.

#3 - Foundation Repair is (and should be) a one-time job. Most any contractor offers a long-term guarantee (from 5 years, to 25 years, to lifetime). If the work you are planning to do is not warrantable, I wouldn't get in the industry - you'll get beat up.

#4 - Just like any other business.

#5 - best way? Get them to do an estimate on your home... you'll get their pitch, their product info, their pricing, how they sell, etc.

#6 - entirely too broad. Talk to your bank.

#7 - there's only one way to overcome a fear.... Nike said it best.

the rest of the questions are pretty broad and would take a month of sunday's to reply to.


Hope this helped a bit.

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ksmith

Well For The Most Part Let Me Say Your On Your Own,,,your On Your Own No One Will Help You Bury Yourself In It Up To Your Neck And Dont Back Out Any One Can Do Any Business They Want You Bury Yourself Up To Your Neck And Dive In Dont Let Any Naysayer Stop You Cant Stress That Enough Theres Lots Of Work Out There Just Market ,market ,market Spend The Money To Make Money Get Ot Know Your Work First Then Just Do It Its That Simple

threaderman

Breathe,Breathe

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Joe ---International Code Council Member

Your plumbing & gas specialist proudly serving Oklahoma City OK, Moore, Warr-acres, Norman, Midwest City, Edmond, Bethany, Forest Park

genecarp

just a quick peek, im out

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