In Business World Table of Contents
What Are the Skilled Trades?
The skilled trades are jobs that require a high level of skill, but can also be easily learned through hands-on training. These are construction jobs such as bricklayers, carpenters, electricians, and plumbers; and also industrial jobs such as mechanics and welders.
There are also trade jobs in the consumer science industry, such as cosmetology and culinary arts, so there are trade jobs that suit a variety of interests. Here are three reasons why when starting a business, going into one of the trades is a smart move.
#1: It’s Not Hard to Get Started
Starting a small business in the service industry is actually easier than a lot of people think. There are a lot of steps to go through and a lot to make sure you have covered, but they’re not too hard to achieve. First and foremost, you have to create a business plan, like you would with any other type of business.
Your business plan is a detailed explanation of your entire business, and also how you’ll get financing for your business. You’ll also want to secure a property for your business to operate from, get a company vehicle, and you’ll also need to hire help.
Some other things you’ll need to do are:
- Get all of the necessary tools and equipment needed to perform your job. This will also include business software to take care of the tedious tasks for you.
- Register your business as a legal entity, so you’ll be able to operate without the risk of being fined and/or shut down.
- Get all of the necessary business licenses and insurance to operate, including general liability insurance, business income insurance, commercial property insurance, commercial auto insurance, and workers’ compensation insurance. It’s also a good idea to get business umbrella insurance to extend protection for the things your other insurance doesn’t cover.
#2: You’ll Make Good Money
While physicians and other professionals in the healthcare industry make some of the highest salaries at over $100,000 a year, the skilled trades’ salaries can reach just as high. For example, radiation therapists can make over $100,000 per year, and they only need to have an Associate degree because it’s considered a trade job.
Construction managers also make quite a bit, with their average salary being close to $85,000 per year. Other examples of high-paying trade jobs include:
- Boilermakers make an average of $27 an hour.
- Dental hygienists make an average of $38 per hour.
- Electricians make an average of $25 an hour.
- Heating, ventilation, and air conditioning (HVAC) technicians make an average of $23 an hour.
- Licensed practical nurses (LPNs) make an average of $25 an hour.
- Plumbers make an average of $25 an hour.
- Respiratory therapists make an average of $35 an hour.
- Ultrasound technicians make an average of $38 an hour.
#3: Education Doesn’t Cost a Fortune
Although the average annual salary of most medical professionals is close to or over $200,000 a year, these careers also require four years of study at a college or university, plus an additional two to three years of medical school, and a certain number of years in residency. This can easily cost hundreds of thousands of dollars, but the skilled trades will not cost you nearly as much in terms of schooling.
Many of these programs in the trades are two years long, and upon completion of the program, you’ll be certified to work in whichever field you pursue. You will have to continue your education in HVAC, plumbing, electrical, or whichever trade is your concentration in order to keep your license up to date.
So if you know you want to be a business owner, but you’re not sure what industry you’d like to enter, consider the skilled trades. Your schooling won’t cost a fortune, but you’ll still be able to make good money, and it’ll be fairly easy to get your business up and running— especially since the skilled trades will always be needed.