Written by Marcus Lansky —
Consider Attending Trade School Before Starting a Business
You have dreams of owning a business one day, but you do not know which industry to go into. Choosing an in-demand field is a great place to start, but you do not want to go into massive debt taking on student loans to qualify for jobs.
Have you considered attending a trade school and starting a business of your own? If you enjoy working with your hands, Study.com points out you may find a trade that is perfect for you and your visions of being a business owner. Read on for tips for making the most of trade school and planting the seeds for a trade business, courtesy of 1-800-BARTEND.
Research In-Demand Trades
Before exploring options for trade programs, research the most in-demand trades. The Balance notes electricians are in high demand, as well as HVAC technicians, masons, plumbers and welders. This is thanks to retiring baby boomers leaving a gap in these trades. On top of being a sought after role, each offers the opportunity to start your own business. If you have an entrepreneurial drive, this sort of option could be the perfect career for you.
Learn Soft Skills
Trade schools teach students hard skills such as using technology and industry-specific technical skills, but you should also learn soft skills if you want to be a business owner. Examples of soft skills include communication, leadership and critical thinking. Look for trade school programs that put equal focus on soft and hard skills. As an example, 1-800-BARTEND notes that bartending students learn how to make drinks and provide customer service.
Explore Business Formations
While in trade school, check out your options for business formations. Forming an LLC, for instance, makes for a solid choice for small business owners because of the many benefits the structure provides, such as tax advantages, minimal paperwork and limited personal liability. Different states have different rules for forming an LLC. If you feel that an LLC is right for you, you can either use a formation service or do the research and file yourself if you do not want to absorb expensive legal fees.
Attend an Appropriate School
Not all trade schools are created equal. Before applying to one and investing in your education and future enterprise, check to see whether the Accrediting Commission of Career Schools and Colleges or another well-regarded agency recognizes the institution.
Accreditation means the school is officially authorized and acknowledged for meeting basic industry standards. This will be reflected in the certifications and credentials a school has earned, as well as how long the school has been instructing. By attending a less qualified school, you risk not earning the professional license necessary to work in your field, and you may not have the option of transferring your credits to another trade school or qualifying for financial aid.
Think About Immediate Job Prospects
Besides checking out in-demand trades, dig deeper into local prospects. While electricians and plumbers may be highly sought after, that may not apply in your geographic area. If not, it may not make much sense to start a business in either of those trades. It is up to you to decide if you do not mind moving to a different area or state to become an entrepreneur.
Learn How To Operate a Home-Based Business
One great thing about running a trade company is that you do not necessarily have to lease or buy a brick-and-mortar location. Instead, you can set up a home-based business operation because many trades involve traveling to the customer rather than the customer coming to you. This means you can reduce your startup capital costs, investing mostly in tools and a company vehicle. While you can keep overhead costs low going into a trade, do not skimp on the overall quality of the tools and equipment you use.
Have you warmed up to the idea of attending trade school and becoming a business owner? You may find the career path much more rewarding than attending a traditional two- or four-year degree program. Take time to consider the many options and make sure to fully plan your path to your new business venture.
Look to 1-800-BARTEND for more information on building your future career.
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