The construction industry in the US is expected to grow by 8.8% to reach over $13.55 billion in 2022 – which is more than double the growth rate of the overall economy.
By 2026, construction jobs are projected to have grown by 10% from 2016, compared to the average job growth rate of 4%.
The construction industry has been growing steadily for years, and it’s not slowing down anytime soon. Construction companies are always looking for new ways to improve their business and stay competitive in this ever-changing market.
So what are the best construction businesses to start in 2022?
The Most Promising Types of Construction Businesses for 2022 And Beyond
Let’s look at the top construction businesses that we expect to have the strongest growth and profit potential for 2022 and most likely onward:
Carpet Installation and Repair
Carpet installation and repair is a great business to get into as it’s not too expensive to start, you can do it part-time or full-time, and you can even work from home.
You will need to ensure that you have the necessary skills and tools before starting your own carpet installation company. Be accurate in your measurements, be ready to install wherever is needed such as on stairs, and buy quality tools to ensure sharp, measured cuts to make everything look good. Also, be prepared to repair carpets when worn or damaged.
When was the last time you saw a house without a roof? Roofing is tied to the housing market, and the housing market is massive and, somehow, still growing. It’s historically been one of the best construction businesses to get into, and that isn’t going to change anytime soon.
You’ll be taking part in one of the essential industries in construction. Being a good roofer means protecting people from the elements and giving them the security that their personal property will be safe during inclimate weather.
The roofing business is a lucrative one because it has a high demand, there is always competition involved, but it also isn’t oversaturated. The market for roofing materials is growing constantly, which means that there will be more opportunities for new players in this industry.
Cabinet builders have been around for centuries, and their popularity will not fade anytime soon. House flippers or basic remodeling both need quality cabinet craftsmen and will pay a premium for particularly quality and beautiful examples.
It’s a business to get into if you’re interested in making a high-level product, something to be proud of, and a centerpiece of a room.
The demand for cabinets is at an all-time high, partly due to the aforementioned house flippers. You’ll be, somewhat, significantly increasing the property value of a home, so your services will generally be very appreciated and your expertise listened to.
Due to this, you may be given a loose reign to customize your work and make it unique. Take advantage of that and make yourself stand out from other cabinet makers in the industry.
High-quality craft and borderline artistry are what you’re trying to aim for both for a lot of clients, and for your profit margins.
Tile, Slab, & Marble Installation, Replacement, & Repair
Similar to cabinetry, working in tile is a satisfying niche to explore. It’s an ancient industry with plenty of growth potential.
Like any craft, you’ll need some equipment, such as a wet tile grinder, that can be a bit expensive, relatively, but you should recoup your costs fairly quickly so long as you’re taking the time to make quality work.
Often you’ll be subcontracting your work out for other projects, such as with countertops and flooring. If your work is good you can get your name out and become a go-to for bigger general contractors and find yourself with an abundance of work.
If the client wants a house on the grid, and not a shack in the woods, they’ll need a certified specialist to both allow power into their project and keep it from being a fire hazard. It’s an industry that, so long as society exists, will have job opportunities.
Most electricians start out with an apprenticeship, though you don’t necessarily have to go this route. You do have to be certified though, and it will require a bit of education and knowledge to be able to handle the gig safely. Due to this, the supply is a bit low while the demand is as wide as the construction jobs happening in your area
Begin a Logging Business
Just start chopping. A logging business supplies larger manufacturers with quality lumber to make parts for construction. It’s a very in-demand industry, but the licensing involved and getting the plots of land needed can be pricey.
What can be done though is to include it with a lumber clearing business. Plenty of properties need someone to remove downed trees or clear them for further development, you can use this as an opportunity to take these wasted resources and sell them to suppliers
You can make money on both sides this way. Areas being urbanized need good loggers, it’s a boom business depending on your area.
Use Software to Improve Your Business
To ensure your success in construction it helps to invest in software that will streamline the process.
The right software can drastically cut down administrative time, ensure clarity, and save money when changes happen throughout your efforts. Change orders can be a significant cost to you if not managed properly, and one of the best ways to do that is a change order log and tracking software system.
Trak Changes is one of the leading change order management software platforms. It can save you time that may be spent on organizing change orders.
Ready to take the hassle out of keeping track of your change orders? Sign up today for our free trial today!
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