A demolition is a popular and profitable branch of construction contracting. You can start a small-scale demolition business for a small-scale initial investment of $10,000 to $15,000. Many construction and remodeling companies subcontract out their demolition work, so there are always plenty of opportunities for small demolition companies in Los Angeles.
1. Create a business plan for your demolition company. A business plan serves as an outline for your company and will help you secure bank loans to begin your business. There are many templates available for constructing a business plan. Although if you have some start-up capital I would highly recommend hiring a professional business plan writer to help you craft a great looking business plan.
2. Get a business license. If you are starting a demolition company in Los Angeles you will need a demolition contractor’s license and probably a local business license. While your obtaining a proper license you should also incorporate as an S Corp, C Corp, or LLC (a lawyer can advise you on which is best for your you and your company) and retain an accountant to handle your taxes and day to day accounting.
3. Get the correct amount of insurance. If you are starting your own demolition company you will have to post a surety bond with the state. You will also need to buy insurance for your demolition company and also purchase worker’s comp.
4. Purchase tools … A demolition company needs tools so purchase the correct tools and heavy machinery for your demolition company.
5. Hire Good Employees … Hire well-trained and qualified demolition workers for your demolition company.
6. Promote your demolition company … Advertise your demolition company.
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