Apprenticeships are often a great addition to a contractor business. It is the best way for individuals interested in the contracting field to learn, as apprenticeships combine both workplace and school experience. Contractors also get to share their knowledge with these students, who may eventually become skilled, full-time employees. “This is all great,” you may be thinking, “ but how do I offer an apprenticeship for my contractor business?” There are some steps you need to take, but we’re here to help get you started.
How do you plan to offer the program?
Before you even get to the paperwork and hiring process, you will need to decide how to offer the program. Since apprenticeships require an educational component, you will want to figure this out first. Is there a local community college or university you could partner with? What about an online program? Or, do you want to do the teaching yourself? Once you figure this part out, you can get started on the paperwork.
How do you register the program?
Once you figure out how you’re going to offer the program, it’s time to register! You will want to register with your State Apprenticeship Agency. This agency will make sure that your program meets all state and federal standards and will register your program with the Department of Labor. According to the Department of Labor, this registration will give your apprentices national credentials when their apprenticeship is complete. In addition, you could qualify for resources such as tax credits and program funding.
How do you find apprentices?
After your program is up and running, you will need apprentices. You can find apprentices almost anywhere. They could even be employees you already have who just need some more training. If you partner with a college or university to run your program, you may be able to find apprentices through that institution, also.
How do apprentices get paid?
Apprenticeships differ from internships in that apprentices do need to be paid. The Department of Labor lists the average starting salary for apprentices at $15 per hour. Often, apprenticeship programs offer pay raises as apprentices hit certain benchmarks. This both rewards the apprentice for hitting the benchmark and motivates them to keep learning. If you need help paying your apprentice, you may be able to apply for state or federal funding.
Take some work off your hands.
Now that your question “How do I offer an apprenticeship for my contractor business?” is answered, it’s time to get started! As you begin this program, you will need to free up some time to spend on it. Take some work off of your hands by partnering with HFS Financial. With HFS Financial, you no longer need to spend time worrying about how to offer financing as a contractor. Just direct them to our 60 second application, and we’ll help fit them with the right loan. You will have more time to get your program started and train your apprentices.
Start offering financing today by giving HFS Financial a call at 1-800-254-9560. “You Dream It, We Finance It.”