Starting any sort of business is anyone’s dream. The ability to call a company your own is something that many desire. A scaffold company earns by renting out construction equipment. And with today’s ever growing constructions that are carried out, this has become one of the best company to start up. However there are procedures that ought to be followed when joining this industry. Here are a few;
Type of company
If you were to start one among many scaffolding companies in UAE you need to pick the type of business you are going for. Whether it is a soletradership, partnership or company. Obviously you would be able to earn a lot but there is the risk of unlimited liability. So choosing to start a company with limited liability is a better option. This type of business, that is a company, protects you from lawsuits and doesn’t end up affecting your personal property. Thus making it a better option.
Find out from the relevant authorities if you need to have a permit when renting out mobile scaffold tower. This shall help you in performing better in your business. It will also guarantee a steady and smooth flow of clients. Clients are requested to question on permit from whichever company they decide to hire equipment from, so by getting a permit or license you could assure the clients safety while also paving the way for more clients to approach your company.
It is necessary that you apply for an insurance policy before you start your business. This will help in protecting your personal assets in case of any damage or mishap. This also reduces your risk in the case of a bankruptcy. This liability insurance cover depends on the value of your assets, so based on that calculation choose the right policy.
In order to rent out these equipment you need to firstly decide whether you are going to purchase new ones from online stores at a low price or whether you are going tp purchase and rent out used ones. Based on that decision collect the necessaries that are to be rented out once you start the business. Be mindful of damages though in case you are purchasing used ones. Damages make them unsafe to use, thus negatively affecting your business.
Consider the additional earning as well in the form of delivery. Whether you are going to provide your client with the delivery option as well or if you are going to get them to find a way to get down the equipment.
Think of other factors that could affect as well and make the right choices and start up your business!