One of the largest growth industries that have slipped under the radar for a while is welding. In 2020, another 250,000 welding workers will be required within the United States alone to meet the market demand.
Welding can be so profitable that welders who have only two years of associate’s degrees could earn up to $140,000 per year in the appropriate conditions. Welding is a huge cash-flow generator if you’ve got an effective business strategy. Follow the guidelines below to know how to make money on the side.
Perform Some Market Research
Before you invest in expensive equipment or rent commercial spaces, knowing which welding services are in high demand is crucial. Finding the right demographics for consumers to target is also crucial. For example, you may discover that many bicycle shops require help in frame repair or construction. Also, local businesses and farms which are particularly demanding on their equipment and vehicles typically require MIG/TIG, acetylene, or torch welding services on short notice. There isn’t a way to be too knowledgeable about locally and in the regional welding market.
Finalize the Business Plan
Picking a niche unexplored with little competition will allow price and make a profit immediately more likely. For example, some welders specialize in repairing shopping carts used by grocery stores. Others create custom frames made of metal made of various materials for furniture. Decide if you’ll work locally or move around the country or region to make money. The important thing is that you need to have a clear idea of how your company will operate before starting.
Get the Equipment Together
You’ll need welding equipment such as shielded metallic arc, MIG, or TIG machines. A Millermatic 250 is available at less than $800. It is also necessary to have tanks containing helium, argon, and CO2 mixtures. The availability of a variety of electrodes and ample welding wire available is vital. Find a place for welding that is well ventilated and has security features. If you’re planning to take your show to the streets, an RV or truck with a trailer could accommodate all the necessary equipment.
Polish Your Skills and Hire Employees
To become a welder, the requirements for education vary according to the technique and the area. American Welding Society is a fantastic resource for the training and education aspects is related. Take advantage of a lot of practice in various welding techniques, including gas metal arcs, acetylene, and laser. If you’re planning on hiring other welders, contact local unions and trade associations to locate skilled employees. Community college and vocational school are excellent places to find welders who perform at a low cost and possess adequate education.
Structure Your Outfit Wisely
Before you book your first gig, make sure you be sure to register your business with local authorities to be able to claim tax benefits. Find out if it’s an LLC, Subchapter S corporation, or any other type of corporate entity is the best. While you’re there, purchasing insurance for public liability is essential if you plan to be welding anything beyond the standard of jewelry. In addition, having an account with a local institution to pay for unexpected expenses such as repairing or replacing equipment within the first year of operation isn’t the best idea.
Promote Yourself in a Unique Fashion
Anyone can buy commercials on television or radio to advertise a new venture. But, it’s expensive and won’t do anything for smaller welding companies. Using a combination of both on-the-ground and online marketing is a more effective method to get your name in the spotlight. A content marketing campaign that uses the power of viral YouTube videos and blogs that target certain customers can be very effective. Making demonstrations of your talents at community fairs, local gatherings, trade shows, and other events will draw attention to your business more than anything other.
Future-Proofing your New Operation
Like all industries, welding isn’t static. Demand for various services can wax or decrease as time passes. Be aware of trends within the industry at a national and local level to spot changes in demand before they happen. Expand your knowledge by offering welding classes or making instructional videos to sell on the internet. Using your authority to promote certain welding products is an excellent method to earn money through affiliate-based sales. The truth is that welding will always be lucrative if you can change with the times and stand above the rest of the field.
Suppose you’re an ambitious and eager welding professional. In that case, many projects can bring you a little or substantial cash flow simply by thinking up new ideas and using tools around your garage. While the job involves physical activity and the potential of accidents, taking preventive steps can prevent any accidents from happening.
You can post information about your products on social media or platforms such as Craigslist that are sure to attract clients. Freelancing is an expanding field currently. If you play your cards correctly, you can profit from welding out of your garage.