Business opportunity: Begin oil and gas refinery construction (building) and servicing company.

This is another highly technical and profitable oil and gas business that someone who is interested in starting a profitable business should consider starting. It is a good opportunity for you to become your own boss and set your own working hours.

The demand for construction services is ever on the high in both the developed and developing countries. There is an increase in demand for buildings and structures meant for various purposes, as well as renovation of existing ones.

Having secured a license to operate your own private petroleum refinery, it is important for you to have the functioning refinery in place.  The job of refinery construction (building) and servicing companies is to design, build and services refineries.

In the oil and gas sector, this type of business is highly thriving in countries where individuals and private firms are allowed to own their own private refineries.

Refinery construction (building) and servicing company would require experience engineers in the oil and gas industry.  You would need various professionals especially engineers and architects to start this type of business.

Oil and Gas Construction Company requires a lot of groundwork, careful planning, and organization to increase your chances of success in the business. The following are the steps involved in setting up a construction company:

Perform market research.

Prior to think about starting a business, you may want to understand your market. Start investigating the potential profitability of oil and gas construction business in your area by consulting industry publications for information about market trends specific to the construction industry in your area. The U.S. Small Business Administration is also a great resource for finding relevant industry information. Business news in the oil and gas sector will give you the idea of the business in Nigeria and in Africa. Moreover, you should find out which other companies offer similar construction services in your area, how much they charge, and what kind of reputation they have.

You can also consider the demographics of your area. Your company would need to provide services that the people in your community will want and will be able to afford.

Write your Oil and Gas Construction business plan

Writing a business plan for your proposed construction company is very important. It will highlight how your proposal will come to fulfillment. Also, it will include the steps you will take in order to achieve this dream. Again, it includes the time frame, funding, and other inputs that will go into setting up the business

Bear in mind that you may need to present your business plan to any potential lenders, so be sure to put plenty of time into developing it carefully. A copy of your business plan may be required by the third parties if you are planning to apply for debt or equity funds. The chances of getting the needed funds will depend on how detailed and accurate your business plan is.

Locate a good area or environment to run your business

Your business would need a property that provides an office for your administrators, large storage space for tools and equipment, and parking for your construction vehicles. Some construction company owners work from home.

You can consider starting the business from your home (provided there is some space to keep your equipment). But as your business grows, you will need to move to an official location.

           

Know the rules involve

When starting a business, learning the rules and regulations that govern the business is most important, yet often overlooked. Your company would need to find out about the regulations governing the operation of construction companies in your country.

You can start this by approaching the appropriate agencies and find out about how to register your business name, how to obtain your business license, how to obtain your business identification number, and other necessary requirements. Also, you need to find out about the fees for licensure and certification for your business.

Learning the rules and knowing how to go about them will not only give you rest of mind but also make your customers feel more comfortable about hiring your services.

Gather and check your equipment for the business

It is very important to have the right kind of equipment to complete the projects you are hired for. The required equipment will vary greatly depending on the types of projects you plan on accepting. It is good to purchase any items you will need to carry out basic construction tasks, such as saws, carpenters’ levels, drills, bits, ladders, welding machine, hammer etc.

Buying used equipment is a great way to save money, especially when you're just starting out. Renting might be economical as well for equipment that you seldom use for work.

To avoid delay at work, take a record of your tools and equipment. Also, check them to ensure they are in good working condition. Again, service any equipment that needs to repair, and replace those that are no longer useful.

Hire employees to work for you

You will need to have a team of skilled and reliable workers. You can find employees by posting job listings on popular job boards like Craigslist, Monster and Facebook. It is good to hire qualified people for skilled jobs.

You should ensure that they are able to deliver high quality work, since the quality of their work can make or break the reputation of your company. Again, you should decide on whether you will hire them permanently or only when you have projects to handle.

Moreover, you might need to hire sub-contractors whenever you land projects that are too huge for your company to handle alone or that require more expertise and equipment than your company can offer. You should also ensure that these sub-contractors are able to deliver the same quality of work as your company, since your clients will attribute any good or bad results to you.

 Advertise your business

Having set everything, you can start spreading word about your construction company.  Construction marketing plan is necessary for the growth of the company. You can start by talking to family and friends. You can also utilize all the contacts you might already have in the oil and gas construction industry.

Online marketing works magically these days. You can set up a small website that advertises your company and describes your services.  Try to include your contact details, so that prospects can easily get in touch.

Moreover, you can advertise your new construction company in various media outlets that appeal to your potential customers. You can also offer discounts to your first few customers as a way to compel prospects to give your business a trial.

If your company has a larger budget, you might want to consider television, radio, newspaper, or billboard advertising.

And you can go to trade shows whenever possible. It is a great way to meet potential customers and let them know what you have to offer.