Short On Cash, Jobless, And License About To Expire? Solutions For Electrical Contractors

28 December 2017
 Categories: , Blog

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Uh-oh. Your electrical contractor license is about to expire. Worse than that, you do not exactly have the money right now to pay for a renewal. Bigger problems on the horizon include a severe lack of work because you do not have a current license. You need solutions fast.

Apply for an Electrical Contractor License Extension

An extension of your contractor license will help you get over the hump of not having a license so that you can secure some work. Once you have secured some work, you can make sure that the initial payment received to start a job pays for the renewal of your license. An extension may also cover the length of the project, if your new client/consumer is unable to pay "x" amount of dollars up front to cover the cost of your license. Usually, you can get an extension from a few months to a year, depending on the laws in your state.

Secure Contract Work Immediately after You Get Your Extension

When you have successfully obtained a license extension, go after those jobs with everything you got. Your career depends on it. Your city will have several electrical contractor job postings down at city hall. Just ask the receptionist where the postings are, and he/she will point you in the right direction.

Work Side Jobs until You Can Secure a Big Job

Do not just sit around waiting for responses from the big jobs. There is a lot of small jobs available that you can do until you hear back from the big jobs. It helps you put your license extension to work for you while you wait. It may even garner enough cash so that when you do land a big job, you do not need that much more money to renew your license fully. Your big job customer will appreciate that, since you can cut that expense from the proposal.

Work as a Subcontractor

Sometimes the way in is the way under. Working under another electrical contractor whose license has not expired allows you to earn some money. It also gives you a foot in the door for potentially larger jobs while you either wait for your extension to come through, or you wait for your renewal. While you may not like the idea because you have been your own boss for some time, it may turn out to be quite the lucrative decision in the end.