As an entrepreneur, you have a good idea where your money is coming from and going to. Sometimes you spend it on regular things like office supplies, other times you approve the use of a hang glider for work purposes.
Let’s say your office has been overdue for a remodel or you just want an all-new place to call your own. That’s a big expense, and you need to make sure your money isn’t wasted.
There are over 10 million construction workers to choose from in the US. Here are seven questions to ask a contractor to make sure you get the best deal.
1) How Long Have You Been in the Business?
This should be the first question out of your mouth when looking to hire a contractor. Established companies have worked out the kinks, but don’t dismiss newer companies.
A new contractor might have just started their own business but have several years of experience under their belt. Do your homework before you commit.
2) Do You Have Insurance?
Contractors should have two types of insurance: liability and worker’s compensation. Both of these are essential to protect your business.
Worker’s comp protects anyone who works on site. Liability protects you from paying for damage they might cause.
3) Are You Licensed to do Contracting Work?
Just because a contractor is licensed doesn’t mean they have a license to perform the work you need.
For example, a contractor might be licensed to do roofing, but you’re hiring them for carpentry work.
4) Is This a Fixed Price or Estimate?
Getting a fixed price keeps contractors from charging more because of “unknowns”. Try to work out any “unknowns” beforehand and get the most accurate price in writing.
5) Can You Itemize The Bill?
Out of all the questions to ask contractors, this one can save you money right off the bat. Seeing your expenses itemized gives you an idea of where you can trim to lower the cost.
Let’s say your dream project has lighting fixtures that are out of your budget. Seeing that in black and white helps you make decisions before the work starts.
6) Will You Have a Dedicated Team on This Project?
Whether you’re hiring a roofer or vacuum lifter, you want to make sure there is some sort of consistency in the work. If there will be different people on site, ask to speak to the project manager so you’re both on the same page.
7) What is the Timeline for Completing the Work?
Your contractor will probably give you an estimate of when they think they will be finished. Find out if they have any other projects that might affect your timeline.
Questions to Ask a Contractor
With these seven questions to ask a contractor, you’ll be prepared once you’re ready to start building. The time and money you save will be better invested back into your business.
Want to learn how to make smart decisions in all aspects of your business? Keep up with the latest information by checking out our business advice blog!