Scientifically, a niche is a term that defines a certain species’ position and function in a particular ecosystem. In the business world, niche businesses are those that provide a highly specialized service. Relative to bigger companies, niche businesses focus only on smaller market segments. And due to this, they potentially have fewer competitors in the same field.
If you are an entrepreneur with a background in construction and engineering, you aren’t limited to establishing a hotshot construction firm that will build the next Empire State Building. You can put your skills and knowledge as a builder to use and earn from them as your own boss. Here are some ideas to get you started with your business blueprint:
1. Aboveground Tank Erection Company
Some engineers build houses, while some build high-rise towers. On the other hand, you can choose to erect aboveground tanks, which are as functional. Among commercial establishment owners, aboveground storage tanks are becoming more and more popular compared to underground tanks because:
- Aboveground tanks are easier to clean, maintain, and repaint compared to their underground counterparts.
- Detecting leaks and other problems, such as rust is easy.
- They are easier to move if the business requires.
Aboveground storage tanks are particularly needed in the agriculture and oil industries.
However, apart from installation, you may also be responsible for making sure these tanks adhere to API 650 specifications, to ensure their safety and durability.
2. Basement Remodeling Business
Due to work and other activities, not everyone has the time to reorganize or retrofit their basements. However, left unmaintained, these rooms may bring costly damage. As a construction professional, you can provide basement remodeling solutions to your town.
One of the first things you need to do is to shop for high-quality suppliers for your construction needs because you will likely be fixing walls, floors, and other fixtures. In other cases, you will have to deal with mold and humidity problems.
3. Construction Cleanup Service
According to the latest figures provided by the Environmental Protection Agency, the US generated about 548 million tons of construction and demolition debris in 2015. You can help address this problem and earn from it with a construction cleanup service. Many advantages come with this kind of business. First, headquarters aren’t necessary – that’s automatically savings from overhead costs for an office. Second, there’s always a construction site to clean, whether residential or commercial.
4. Electrical Panel Upgrades
Most recent data from the National Fire Protection Association showed that between 2010 and 2014, fire departments across the country responded to 45,210 home structure fires that involved electrical failure or malfunction. These numbers showed how crucial it is to make sure a residential property’s electrical system is well maintained.
If you know about electrical engineering, you can provide this kind of service. Specifically, you can target old houses which may have outdated breaker box. Not only does this solution ensure the safety of a house’s electrical system, but it also saves a resident from costly repairs from malfunctions due to age (e.g., electrical shocks and flickering lights).
If you’re an engineer, it doesn’t mean should only be building houses or towers; you can also build businesses. And you can start small by narrowly defining your position and function in the commercial ecosystem: go niche.