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Drywall business is considered one of the most effective and profitable businesses in the construction industry. You can give it proper time, always going to have work, and the most significant part is that there is no heavy-duty equipment required to get the job done, unlike other areas in construction. It also prevents your finances from draining.
However, the world of drywall or sheetrock is not as easy as it seems and has some quirks. There are some general concerns that need to be addressed. Irrespective of the type of business you choose, you should do the due diligence, do market research, cost analysis, and not forget the feasibility studies. Getting things right before starting a business can save you from falling in the potholes.
With that said, here’s what you need to do if you want to start your own drywall business.
The Facts
Contents
First things first, let’s talk about what you need before you think of starting it as a business.
Training and License
Things begin with your getting training and license if you wish to enter this business. The requirements to enter the training, however, might vary. You might require GED or a high school diploma for some programs. To get the basic foundation, high school level math and shop courses can help you train yourself well in the field. Besides, you can enroll in vocational programs to get more formal training.
Mostly, breaking into the drywall business does not need a bachelor’s degree. However, if you want to be the owner, it is recommended that you pursue a business degree to learn more about how to handle your ownership as a businessman in the best way possible.
Having said that, formal apprenticeship and in-depth training are necessary as it provides a detailed experience, helps you learn and read the blueprints, and last but not the least, you can understand the building codes. Moreover, you can increase your network, which is essential for your exposure.
Being a drywall expert, your responsibility is to help your clients install gypsum wallboards, layout and also install the gypsum wallboard assemblies. You will be estimating drywall projects to quote the best price to the clients in order to secure the project. Hence, to operate your business, you are required to obtain your drywall contractor permit and license, which is the next step. Each state has its requirements for releasing the permit, and you need to fulfill those requirements.
Legal Documents
We cannot forget the essence of having legal documents before starting a business. In fact, it becomes difficult to start a business without legal documentation.
Listed below are some of the essential documents that you should own.
- Business License/Drywall Contractor License and Permits
- Insurance Policy
- Online Terms of Use
- Contract Document
- Non – disclosure Agreement
Let’s Get Started
Overview of Industry
This business line is under the construction industry, and a drywall contractor is a manager. As already mentioned, the owner helps clients with gypsum wall installation, which includes metal studs installation, top, and bottom rail fixing, insulation, and finally fixing the gypsum boards. taping, texturing operations, and finishing also come under the scope of a drywall contractor. Depending on the nature of a project, the drywall contracting company submits a bid or proposal, an estimate, or a cost price.
For this purpose, you generally have to consider the manpower, general conditions, cost of home office overhead, materials, cost of labor, and equipment to provide an estimate of the project.
Create a Business Plan
Once you get an overview of the industry, it is recommended that you create a business plan indicating whether you want to work for residential, industrial, or commercial customers; or you want to work for all of them. This distinction will help you buy the gear you need and will make things easier and narrow down your marketing efforts.
Start marketing your company and detail your finances. Include long-term liabilities, e.g., daily operating costs, equipment loans, salaries of employees, and costs for drywalling supplies. Moreover, even if you operate your business from home, include the office’s cost as well.
Supplies and Tools
The supplies are mostly bought based on the project, but you might need a vehicle to carry out the equipment, such as drywall sheets, and have it delivered. Moreover, you will need mud and tape to apply, such as banjo, which helps to add to the joint compound. You also need a router and saw to cut holes, pipes, or electrical boxes. That’s why it is necessary to invest in good and reliable power drills so you can easily fasten sheetrock to the studs.
Additionally, you also need an air compressor or motor to give a smooth finish to your drywall. Other tools include sanders, trowels, and large items, including scaffolding, stilts, and ladders.
Hiring Employees
Drywall business is more than a one-man job, especially when it comes to installing sheetrock on ceilings. That’s why you need to hire more than one reliable person to finish the business on a contract basis. Make it clear on how you are going to pay, either on per hour or project basis, and relevant details. Try finding finishers and installers who have the same interest as yours and almost the same training. You can also train a person who is strong and capable enough to hold a sheet of drywall against the studs.
Set Your Price
You need to set the price for each project. The drywall installation project is based on a fee per square foot. Therefore, an understanding of architectural drawings, room measurements, and adding up the total square footage is a must so you can figure out the cost. Moreover, you need to set and mark prices for materials and supplies such as screws and joints.
Search for Customers
Remember, we told you that training in this field would help you in the long run while building networks? Here comes the time. At this point, it is very important to expand your clientele. Contact those contractors who were in training with you and ask them to refer you, customers. You can also talk to the subcontractors and home builders who need drywall installation. Meet the companies who are providing such services and are willing to join hands with you while giving the drywall projects to your company.
It is important as, in the end, you want your business to grow.
Starting a drywall business is not considered capital intensive, especially if you are working on a small scale. Securing a place, setting up a plan, and purchasing equipment will consume a chunk of your startup. However, if you have read this guide thoroughly, you can easily start your business without going through the hassle of knowing the process first.