In the United States, it typically takes between two and five years to become a fully licensed contractor. This long training period is because contractors work on a broad range of projects for which they must be well versed in a wide variety of materials. The following are requirements for becoming a licensed contractor:
Full-Time Student Status
A potential contractor will need to enroll in an institution offering architectural or engineering curricula, such as a college or university. In most cases, students cannot get their degree if they do not maintain full-time student status.
License from General Contractor
The next step is that the applicant should get a license from the general contractor. There are different types of licenses that they need to have to start working as a contractor.
General Contractor Insurance
To get the license as a general contractor, you must have some insurance like liability coverage, worker’s compensation, and more. It is important to note that some states may require an additional bond or permit to be obtained before work can begin.
Obtain Business License
The first step towards opening your own business and getting the power and ability to become a certified contractor is by obtaining a business license. To obtain any Georgia contractor license, including an electrical contractor license, you need to apply along with the required documents. You can obtain both of these licenses on your own or hire a reputable licensed contractor that will do that for you.
To secure financing, most contractors must have some credit history to gain sources of credit. If the applicant lacks sufficient credit, they may rely on alternative forms of financing such as personal loans from financial institutions or family members. A bank or finance company will want evidence that the business is properly established before agreeing to provide capital.
Establish Good Business Practices
One of the most important things a contractor can establish good business practices early on. This includes maintaining accurate records, filing taxes correctly and on time, and having a customer service policy.
Purchase Equipment and Supplies
To complete many jobs, contractors must purchase specialized equipment and supplies. This can be a costly investment, but it is important to remember that these expenses will be tax-deductible.
Maintain Proper Insurance Coverage
As with any business, contractors need to have adequate insurance coverage for accidents or injuries. This insurance should include liability insurance, workers’ compensation, and automobile insurance.
Stay up to Date on Changes in Regulations
The construction industry is constantly changing, so contractors must stay updated on the latest regulations and changes. This can be done by subscribing to trade journals or attending industry conferences.
So, you want to become a contractor? You have a great idea and the ambition to put it into motion. To become a licensed contractor, several requirements need to be fulfilled by the applicant. Consider the factors listed above before you start building your empire as a licensed contractor. You can take several routes toward becoming a contractor, but all employers will likely require some form of certification during the hiring process.