Why Millennials Should Become Contractors

The construction business is shifting.

One need only Google the construction labor shortage to confirm this. For example, a recent report in Reuters featuring data from the National Association of Homebuilders showed that nearly eight years after the housing bust—which drove an estimated 30% of construction workers into new fields—homebuilders across the country are struggling to find workers at all levels of experience.

The association estimates that there are approximately 200,000 unfilled construction jobs in the United States, marking an 81% increase in the last two years!

Kukun found the same to be true in our own analysis of major construction markets across the U.S.

For example, the number of construction jobs in New York State increased from 2011 to 2015, with the number of work permits rising from 98,781 to 129,267 at a value of $137,507,266 to $231,297,337 (up over $93M), respectively.

This is just one of the large markets across the U.S. for construction and the pattern here is indicative of our larger research, showing that as the demand for construction work increases, there is a lack of labor to meet this need.

The big picture is that without enough workers, the supply of residential construction workers trails demand for homes and the shortfall will dampen the overall U.S. economy.

It is imperative that the construction industry works to bring the traditionally offline industry of construction online. If we want to attract Millennials to careers in construction, we have to speak their language!

Home construction and remodeling professionals need an easy way to create professional bids on the scope of a project in a fraction of the time and this can be achieved with advances in technology. These type of tools makes the construction industry more attractive to Millennials who are seeking jobs that utilize their already built-in skill set in the workplace.

With so many available construction jobs and housing demand on the rise, construction is the perfect career choice for today’s youth workers. Here are the top nine reasons for considering a career in construction if you’re under 34:

1. Guaranteed Jobs.

The market has put so much pressure on contractors that demand far outweighs supply. Clients often wait a year before they can get a good contractor!

2. New Homebuyers are Millennials.

This buyer is more likely to want a fellow Millennial who understands their needs and desires to build and design their house.

3. Computer Literacy.

You are more computer literate and can be more productive and scientific about how things should be done. You’re not afraid to take on learning construction management software. The ability to create more efficient bids and planning will mean you will quickly surpass workers who have come before you, who still approach the industry with an offline mindset.

4. Learn Skills to Flip Houses.

You can make a huge amount of money if you learn how to pick the right property, renovate it efficiently, and sell it quickly.

5. Technology.

This profession is finally embracing advances in technology. New tech is offering the construction industry a great set of productivity and predictability tools, which make the job easier than ever before. Like to tinker with these tools? Consider joining construction.

6. Social Media Marketing.

The new contractor must know how to use the Internet to market themselves. You are exponentially more qualified than your father’s generation to market yourself and your construction business.

7.  Resilience.

Contracting is a resilient business. When the economy is doing well, people build new and when it is not, people enhance what they already have. There will always be a demand.

8. Market Growth.

The market is growing 8% to 9% yearly and will continue to grow as more people move to more populated areas with restaurants and bars, thus putting pressure on already built-out areas to renovate.

9. Community Growth.

Populated cities are spending a lot of money creating more lively town centers and need people to renovate the older buildings and create modern, eco-friendly shared space.

SOURCE: https://blog.capterra.com/