3 Reasons Licensed Contractors Make More Money

Becoming a Licensed Contractor

A lot of people seek out jobs in the construction industry thanks to its steady nature and wide range of career opportunities. After some time, many will consider whether or not they should get licensed. Certain states require licensing for all jobs; others require licensing for certain jobs; and others do not have state requirements but do have city or county requirements. Click here to find out more about your state specific requirements. While state requirements are a common reason for licensing, some people realize that licensed contractors simply have the opportunity to earn more money. Here are three great reasons why licensed contractors can make more:

Bigger Projects

There is no doubt that you can earn a steady income through consistently tackling smaller projects. However, licensed contractors can take on bigger and more complex projects that ultimately pay more. This allows you to take on fewer projects while making a higher profit. At a minimum, you can even charge more hourly as a licensed contractor.

More Projects

Most licensed contractors also hire subcontractors. That means that not only can you take on larger projects, you can supervise multiple projects at that same time. Now you are getting multiple incomes from multiple sources.

Credibility

Part of the reason you can charge and earn more is because getting licensed immediately established credibility for your professionalism. With your contractors license, you can put your clients’ minds at ease that you take your career seriously enough to invest in it. The construction industry is full of people offering to take jobs “on the side” but with hiring unlicensed contractors, there is greater risk that ultimately falls on the client, not the contractor. Since most licensed contractors also have business insurance and general liability insurance, this adds to the overall level of professionalism and credibility prefered by clients.

Next Steps

If you are ready to invest in your career and become a licensed contractor in your state, you’ll probably need to pass a state licensing exam. As a leader in the e-learning industry, @HomePrep has helped over 100,000 students since 2014. We offer fully online exam prep courses and live seminars. To start investing in your career and the potential for making more money, contact us today or browse our course offering by state.