There are few stories in modern times that are as astonishing as the phenomenal economic growth of China over the last three decades. This growth has been characterized by massive construction across the country. Entire cities have been completely transformed, making them almost unrecognizable from their humbler past.
But China has been just one part (albeit a very large one) of the construction boom taking place in much of Asia. India, Indonesia, Vietnam, Thailand and the Philippines are pulling their weight too. Even advanced markets like Japan have been bright spots as economic reforms provide an impetus for new building projects.
It’s inevitable that in this sea of rising prosperity lies multiple opportunities for construction industry startups. Here are a couple of practical ideas that could take off in Asia’s construction market.
1. Construction site cleaning
No matter how much effort goes into maintaining a spotless environment, a construction site will inevitably see the accumulation of some debris and unwanted material. Some construction companies wouldn’t mind outsourcing the cleaning of the site to a third party so they can concentrate on the core business at hand i.e., building.
As a construction cleaning firm, it’s your job to get rid of waste and superfluous materials. You don’t need much capital to start a cleaning company.
2. Equipment parts supply
The construction industry‘s blistering growth in Asia has naturally been accompanied by a surge in demand for construction machinery. The machinery is inherently expensive, so launching an equipment supply business will always be beyond the reach of the average person.
Nevertheless, there’s a startup opportunity in the equipment parts market. You don’t require as much capital to kick off, nor do you need to lease a large space for the company. Komatsu is a strong brand in Asia, so a Komatsu® parts startup would probably be the most viable such business.
3. Supply of construction material
There’s a wide range of materials needed at a construction site. Cement, wood, nails, ceramic tiles, blocks, paint, locks and glass, are some examples. You could start a construction material business.
The good thing is you don’t have to start big or stock every type of material. Begin small based on the limited capital you have, then slowly scale up as you establish a steady stream of clients.
4. Security equipment installation
Irrespective of whether it’s a home or an office block, the expectation once the construction is complete is that a person or organization will move in with their assets. To effectively safeguard their property, they’ll need certain security infrastructure. These include CCTV, intruder alarms, electric fences, smoke detectors, reinforced doors, safes and door locks.
It doesn’t take extensive training to learn how to install security equipment. In fact, many of the vendors who supply this equipment will be happy to take you through such training for free.
5. Construction worker broker
Many of the workers on a construction site are hired for that specific project. The recruitment process can be tedious considering the number of times a construction company would have to go through it if it has multiple projects in a year. As a construction worker broker, your task is to take this chore away from the hands of construction firms.
Your role as a broker could take several forms. At its most basic, you’d be required to have a list of workers from whom you would recommend and forward details to construction firms that have contracted you. In a more sophisticated arrangement, the workers would have individual contracts with you as the broker while you will have a broader contract with the construction company.
Irrespective of the model, you earn a commission from brokering each contract.
6. Energy Audit
Green buildings are all the rage as the world moves decisively toward greater energy conservation. As an energy auditor, you would assess a building for its energy consumption and recommend the different ways energy cost and consumption could be reduced by improving efficiency.
That would include recommending (and possibly installing) alternative energy sources such as wind and solar equipment.
Asia is not a country by any stretch of the imagination. It’s by far the world’s largest and most populous continent. Within it is an incredible diversity in not just cultures, but also economic conditions and construction opportunities. Ergo, as you think about the startup idea that has the highest chances of success, consider the market environment of the country or city you’d want to establish in.