How to Start an Elevator Contracting Business: Step‑by‑Step Guide for New Owners

Nate Jones, CPCU, ARM, CLCS, AU
Dec 18, 2025
3 min read

Starting an elevator contracting business—whether focused on elevator installation or maintenance services—can be a highly profitable venture, but it requires careful planning, knowledge of regulations, and proper risk management. This step-by-step guide will help aspiring and new business owners navigate the essential steps to get their business off the ground.

Step 1: Understand the Elevator Industry

Before launching your business, it’s crucial to understand the elevator industry landscape. Key points include:

Market demand: High-rise construction, commercial buildings, and residential complexes often require elevator services.
Competition: Research local elevator contractors to identify gaps and opportunities.
Licensing requirements: Elevator contractors must comply with state and municipal licensing rules. Learn more from the National Association of Elevator Contractors (NAEC).

Step 2: Create a Solid Business Plan

A strong business plan is essential for success. Include:

Services offered (installation, maintenance, modernization).
Target market and geographic area.
Pricing and cost structure.
Marketing strategy (digital presence, referrals, and industry networking).

Step 3: Register Your Elevator Contracting Business

Make sure your business is legally recognized:

Choose a business structure (LLC, corporation, partnership).
Obtain a business license and federal EIN.
Register with state authorities and the Department of Labor if required.

Step 4: Obtain Essential Licenses and Certifications

Elevator contractors often require certifications for:

Elevator installation and maintenance.
Compliance with ASME A17.1 safety codes.
OSHA safety training.

Check your state’s licensing board and resources.

Step 5: Acquire Necessary Equipment

Elevator contractors need specialized tools and equipment:

Hoists, lifts, and rigging gear.
Electrical and mechanical tools.
Diagnostic and maintenance software.

Investing in the right equipment ensures efficiency and safety for your team.

Step 6: Hire Skilled Employees

Staffing is critical for success. Look for:

Certified elevator mechanics and installers.
Technicians with experience in compliance and safety standards.
Office and administrative staff for scheduling, billing, and customer service.

Step 7: Implement Safety and Compliance Policies

Safety is non-negotiable in the elevator industry. Implement:

Regular employee safety training.
Standard operating procedures for installation and maintenance.
A compliance checklist to meet OSHA and local regulations.

Step 8: Market Your Elevator Contracting Business

To attract customers:

Build a professional website with SEO-optimized content for terms like elevator installation and elevator maintenance services.
Network with building contractors and architects.
Attend trade shows and industry conferences.

Need help running your elevator contracting business? Contractor Back Office handles your SEO, website updates, social media marketing, bids, invoicing, bookkeeping, CRM management, and scheduling, so you can stay focused on job sites.

Step 9: Protect Your Business with Insurance

Running an elevator contracting business comes with significant risks. Having the right business insurance is essential, including:

At Wexford Insurance, we specialize in helping elevator contractors nationwide find the right insurance coverage.

Step 10: Keep Learning and Growing

The elevator industry evolves with technology, safety standards, and market demands. Stay updated by:

Joining industry associations like NAEC.
Following elevator safety and technology publications.
Regularly training your staff on new systems and regulations.

Final Thoughts

Starting an elevator contracting business is challenging but rewarding. By following this step-by-step guide—focusing on licensing, safety, staffing, and insurance—you’ll set yourself up for long-term success. Protecting your investment with proper insurance from Wexford Insurance ensures your business is ready to grow confidently.

Contact us today.