Beginner’s Guide on Starting a Scaffolding Business in the United Kingdom
Starting a scaffolding business in the UK can be a source of income for people who have a range of physical challenges. If you have a home, it could be beneficial as the equipment can be stored away nicely while you are at home, and there is also the option of renting it out rather than buying it. If you have a garage, its usefulness could depend on whether you keep it clean and tidy or if you want to advertise for business on the side. A commercial van run by a commercial contractor may well be able to tow cars throughout the day and into overnight garages, but you would need to get it moved using a trailer, and this would cost you.
Building collapses and other accidents can happen and can often be unexpected. When this happens, the death and injury count can rise. Knowing how to build a strong structure (such as a stationary patio railing) can save everyones’ life. This article will prepare you with the basics and company incorporation services in the United Kingdom.
What Is a Scaffolding Business?
A scaffolding business is one that rents out modular steel equipment such as portable ramps and platforms, portable tables, power-operated sheets and frames, grip rollers and winches, and other similar items. It is essentially a location-independent business that allows you to work from home or anywhere nearby. It’s similar to living in a hotel or renting out your space on Airbnb. When you’re working from home, you can set your schedule and set your prices.
Your services or products will be cheaper since you aren’t paying for space in a commercial space. You still need to set up your location, so renting warehouse space or office space will require you to obtain a business license in your area.
A scaffolding business usually involves renting equipment from a company specializing in concrete, brick, and rebar. The equipment is then used for both residential and commercial work. Scaffolding businesses can generate a profit from both renting and selling these types of pieces of equipment. Equipment may be rented out to different companies at different times during the year, depending on how much business the company is doing at any given time.
How to Start a Scaffolding Business?
Starting a scaffolding business is a great way to earn income while also learning new skills and setting yourself as a specialist in your domain. It’s also a great way to start building up your network of connections in the industry. Why? When you’re operating your business, you often don’t have the support of an established business or company looking out for you. Things are different when you’re starting your own business – you have the freedom to make decisions on your terms.
Contrary to what people believe, a scaffolding business is much easier to set up than many people realize. You don’t need a business degree to create one. You don’t even need to pay taxes on the profits. Starting a business can be as simple as putting a structure in place that takes up little space and contains specific equipment and materials.
Get Your License and Insurance
Before you begin working for yourself, you will need to obtain the appropriate licenses and insurance. Scaffolding businesses do not fall under the category of legal services. Therefore, you should first obtain all necessary legal documents and paperwork for your business. This will include everything from legal names for employees to business operating licenses and tax paperwork.
Some states also require specific health insurance for their scaffolders as standard, but there is no set list of requirements, so it is up to you to find the best policy for you. If you want to learn more about the legal requirements in this business, 3E Accounting is here for you. Contact us.
Licenses
One of the things you have to examine is what kind of business you’ll register as. The name and the type of business and whether it will be a sole proprietorship, partnership, or corporation will affect how you set up your wallet and protect against financial loss. A company that provides services will need a specific license as it does not fall under banking. Thus, you need to be aware of any special requirements that were put in place for this particular type of business.
Some licenses you may need:
- Local authority scaffolding permits
- Scaffolds on or over public highways
- Scaffolding lorries
- Scaffolders Record Scheme
- Asbestos
Insurance
Insurance in the construction industry can be an essential part of your job. There’s a reason you need insurance for scaffolding work. Suppose you’re involved in a conflict-ridden situation. In that case, an insurance policy can help defuse a problem before it gets out of hand, and it can also help you collect on any money you’ve lost due to uninsured/underpaid work.
As a business owner, you should make yourself insured through your business insurance policy. You may be surprised at how much you might be paying under current state laws and regulations regarding workplace injuries and illnesses.
Public Liability
There are many different types of scaffolding companies. Before hiring a company, you must understand what types of insurance they offer and what the other limits are for each. It cannot be obvious to figure out what kind of insurance you need until after you have made a few payrolls with your company and it starts paying off on an ongoing basis. This insurance is one of the fundamental pieces of scaffolding business insurance. Think of it as an insurance policy for your work site.
If you are scaffolding buildings or making structural improvements on public property, you must carry general liability insurance. Company registration in UK platforms will provide you with assistance. Contact 3E Accounting now!
Employers’ Liability
Employers’ liability insurance is the next and equally important type of insurance that you’ll need to protect your business against any injury or loss that occurs on the job. Employers’ liability insurance can be a vital funding source for your companies should you be unfortunate enough to require it – mainly if you run a small business with few employees and limited resources. Simply put, employers are responsible for making sure that their workers are taken care of in the case of an injury or illness on the job. As such, they will offer you a higher premium than you would be paying if it were your employee who got hurt.
Additional Steps to Take
Organize Your Prices and Invoices
While the process is relatively simple, pricing structures can get quite complicated as soon as you start doing so. It is essential, however, to understand pricing structures to price your services effectively. You’ll need to understand two primary concepts to price your services competitively: cost and revenue.
There are numerous methods to appraise your services, including using fixed pricing structures or free or discounted prices for particular services or materials. However, knowing the exact cost of your services will help you set profit margins, which will help you resolve how much to charge your clients.
Setting Your Scaffolding Business Prices
One of the easiest ways to increase your sales and profitability is to strategically determine how much you should charge for materials and equipment. How much you charge will affect many things, including the size of your business, your ability to get financing, your ability to attract new clients, and the overall success of your operation.
Invoicing
Renting an item from a business is very different from buying it from a company. For starters, you’ll need invoices. Invoices are what let your business collect the money instead of you ordering interest on the loan. Invoice collecting is also different depending on who the final customer is — owner or renter.
Businesses renting items from their customers are responsible for providing the customer with invoices on time and in the conventional format as drafted in their contract.
Finding Customers for Your Scaffolding Business
There are three main ways to market a scaffolding business: Advertise in local media, online forums, and social media channels (Facebook, Twitter). It will help if you reach these people through their primary channels: print ads, direct mail, or social media advertising. The worst thing that can happen for your business is to get left behind when people want to see what your building looks like from top to bottom. It should be visually appealing from every angle.
Building a Website
Almost everyone deserves a website. It helps you organize your thoughts on the issues that matter most to you. It serves as a starting point for potential conversations with potential customers (assuming you have any interest in talking with potential customers). The concept of offline advertising isn’t a particularly new one, and there are some reasonably effective ways in which companies are utilizing it more effectively.
These offline-focused websites are also notable for being less intrusive on mobile devices. It is giving site visitors more options when deciding whether or not they want to engage with your content (whether through social media, advertisement, or direct messaging). Building a good website that will showcase your services is a tough job. You may take advantage of corporate service provider platforms and learn the appropriate steps to take.
Getting Social
One of the best ways to grow your market is to engage in online discussions about it. There are two main ways: finding active forums online or going door-to-door or using social media. The best thing is to constantly update your website. You also need to keep your customers informed of what’s going on. It’s to make them feel part of the discussion instead of just another customer who needs services.
Social platforms can also be used for promotional activities. It is letting potential customers – or potential customers’ friends – know about things you’re offering. It is an excellent idea to follow these social networking sites to do advanced marketing and build your brand. No doubt building an online following and following people around can help you sell more products and services online.
