Business

The Pros and Cons of Starting a Construction Company in 2020

Published

5 years ago

May 14, 2020

It’s almost impossible to go anywhere these days without seeing some kind of construction taking place. It might be the road outside your neighborhood being repaired, the house across the street adding on an extra bedroom, or your favorite shopping mall getting an entirely new wing.

With so many projects taking place at all times, would it be worth your while to get a piece of the pie and jump into the construction world? Is now a good time to start a construction company?

Let’s run through the pros and cons of starting a construction company in 2020.

The Pros

Why not start off positive with our list of pros.

Plenty of Work

When it comes to construction, there are plenty of projects to go around, especially in large, metropolitan areas. States like New York, California, Texas, and Florida all enjoy strong economies, low unemployment rates, and plenty of money available to be invested in construction projects.

It doesn’t matter if you’re in residential or non-residential construction, there is plenty of work to go around.

Future Growth

According to the U.S. Bureau of Labor Statistics, construction jobs are on the rebound and by 2026, the industry is set to be employing nearly eight million people.

That means that construction is not just a solid job to enter into now, but it’s going to be a job that doesn’t go away over the next decade. You can expect continuous work for many years to come.

Job Control

No matter how small you start out or how big you grow, you’re going to have more control over your job and the work you do.

As the head honcho, you can decide which projects to take on and which projects to stray away from. Some projects are going to attract multiple construction companies and you’ll have to improve your bidding skills, but you still have control over what you do and where you do it.

You’ll also have control over the types of construction tools you want to use, such as an Aurand deck crawler, and other details like whether or not you want to buy the vehicles you use for each job or simply rent the vehicles you’ll need per job type… Plus, it’s way more cost-effective to rent a flatbed truck than to buy one… and you have full control over that.

High-Earning Potential

OK, let’s talk about money.

Even if you love your job, you may not be able to do it forever if you’re not earning enough cash, right?

When it comes to the construction industry, there is great potential for current and future earnings. Even if your company specializes in a certain trade, you can expect to earn at least $50,000 a year, if not more.

Construction bosses can expect to earn well into six figures over time.

Providing Value and Filling a Need

While having high-speed internet and a great TV are important, humans really only need a few things to survive: food, water, access to medical care, and a roof over your head.

In construction, you can take solace in knowing that you’re filling a dire need in the community and helping people live better lives. Even if your company specializes in electrical repair, you might not be building a house but you’re making sure the lights stay on.

The Cons

We can’t have a pros list without a cons list, unfortunately. What are the biggest cons in the construction world?

Work is Concentrated in a Few Places

Even though there is plenty of work to go around in the country itself, the majority of that work is found in only 10 states.

Other states like Alabama, Mississippi, and Minnesota are actually experiencing negative growth in the construction world. So it’s vital to choose a great location for starting your business.

Lack of Skilled Workers

While you may start off small and do most of the work yourself at the beginning, eventually you might want to grow and hire more and more people.

However, it can be quite hard to find skilled workers in the construction world. Skilled workers to fill trade jobs are becoming scarce and some estimates say that for every four people that retire from a specific trade, only one enters to fill their spot.

Legal Hoops

One of the most annoying parts about starting a construction business is making sure you follow all the legal guidelines.

You have to get the right insurance, obtain a business license, and make sure you have all the correct permits. The challenging thing is every state is going to have its own set of guidelines, so what may work for a friend in Tennessee might not work for you in Kentucky.

Business

Mega Construction Projects That Relied on Advanced Crane Technology

Published

2 weeks ago

February 21, 2025

Matthew Wiles

When it comes to large-scale construction projects, the right equipment can make all the difference. From towering skyscrapers to massive bridges and complex infrastructure developments, cranes play a crucial role in lifting, transporting, and positioning heavy materials with precision and efficiency. As technology has advanced, so too has crane engineering, allowing for safer and more ambitious builds. In the points below, we take a closer look at some of the world’s most impressive mega construction projects that relied on cutting-edge crane technology to bring them to life.

Burj Khalifa – Dubai, UAE

Standing at a staggering 828 metres, the Burj Khalifa remains the tallest building in the world. Constructing such a colossal structure required cranes that could operate at extreme heights. Specialised luffing-jib tower cranes were employed to lift materials hundreds of metres into the air, battling high winds and desert heat. These cranes were anchored to the structure itself as it rose, ensuring stability and precision throughout the build.

Sydney Metro – Australia

As Australia’s largest public transport infrastructure project, the Sydney Metro has transformed the way people move around the city. The project required massive tunnel boring machines (TBMs) to carve underground routes, but just as critical were the cranes used to transport and position enormous precast concrete segments. Mobile and crawler cranes with advanced hydraulic systems played a key role in assembling stations and track infrastructure with minimal disruption to existing road networks.

Hong Kong-Zhuhai-Macau Bridge – China

This engineering marvel, stretching 55 kilometres across the Pearl River Delta, is one of the longest sea crossings ever built. Given its scale, floating cranes with immense lifting capacity were used to position pre-fabricated bridge sections. Some of these cranes had lifting capabilities exceeding 3000 tonnes, demonstrating the sheer power and precision required for such a complex marine project.

The Panama Canal Expansion – Panama

The expansion of the Panama Canal was one of the most ambitious infrastructure projects in recent history, involving the construction of massive new lock chambers. Gigantic gantry cranes were used to install the enormous steel lock gates, some weighing over 3000 tonnes. These cranes had to operate with pinpoint accuracy to ensure the seamless functioning of the canal’s new locks, allowing for the passage of larger vessels.

Hinkley Point C Nuclear Power Station – UK

The construction of this next-generation nuclear power plant has required some of the world’s most advanced heavy-lift cranes. The site features one of the largest land-based cranes in the world, capable of lifting reactor components that weigh hundreds of tonnes. These high-tech cranes have been crucial in ensuring the safe and efficient assembly of the plant’s intricate infrastructure.

The Role of Advanced Crane Technology in Modern Construction

Each of these projects would have been impossible without the evolution of crane technology. Innovations such as digital load monitoring, autonomous operation, and enhanced safety systems have allowed cranes to handle heavier loads with greater precision than ever before. For companies tackling complex construction projects, working with an experienced crane hire provider is essential. Businesses like Sventek Cranes offer cutting-edge crane solutions, ensuring that even the most ambitious projects can be completed safely and efficiently.

Mega construction projects continue to push the limits of engineering and design, and advanced crane technology remains at the heart of these achievements

Whether it’s lifting components for a record-breaking skyscraper or positioning bridge segments over open water, cranes will always be an integral part of building the world’s most remarkable structures. By leveraging state-of-the-art crane systems, today’s construction industry is making the impossible possible – one lift at a time.