Start A Refinery Construction Business - Business Ideas

Updated: September 15th, 2022
Start A Refinery Construction Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

Oil refinery companies often do not have inhouse-engineers tasked with constructing the oil refineries. Instead, they hire independent contractors to design and construct oil refineries. As fuel shortages hit the global economies, there will be a need to construct more oil refineries. Thus, starting an oil refinery construction company could be long-term profitable.

Starting a refinery construction business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell refinery construction service, or selling refinery construction service online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$1.29T
starting costs
$18K
gross margin
90%
time to build
270 days

Startup Costs

Min Startup Costs Max Startup Costs

Employee & Freelancer Expenses

$151

$252

Website Costs

$223

$7,015

Business Formation Fees

$600

$4,700

Vehicle Expenses

$0

$10,000

Retail Business Expenses

$1,250

$6,650

Advertising & Marketing Costs

$75

$3,986

Software Expenses

$162

$2,720

Office Space Expenses

$0

$100

Specific Industry Expenses

$0

$500

Total Startup Costs

$2,461

$35,923

Successful Businesses

Business URL Rank

Reliance Industries Limited – Retail Markets

ril.com

10,538

Ventures ONSITE

venturesonsite.com

314,680

Complete Plants, Process Lines, & Used Equipment

ippe.com

398,155

Nayara Energy

nayaraenergy.com

426,440

PARCO – Pak Arab Refinery Limited

parco.com.pk

437,128

Home

techint.com

503,122

BigRatio.com

bigratio.com

702,968

DigitalRefining

digitalrefining.com

718,995

refiningandpetrochemicalsme.com

refiningandpetrochemicalsme.com

1,005,592

Pennwell Corporate Site

pennwell.com

1,140,666

LNG Canada

lngcanada.ca

1,524,808

Pros & Cons

Pros Description

Little startup costs required

The cost to start a refinery construction business costs significantly less money than most businesses, ranging anywhere from 62 to 35,923.

Rewarding work

Starting a refinery construction business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Pick & choose the clients you work with

Refinery Construction Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!

Control of workload

With starting a refinery construction business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Cons Description

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A refinery construction business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Work can be inconsistent

As a refinery construction business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.

Lack of benefits

With a refinery construction business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Taxes

As a refinery construction business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

No safety net

Typically, as a refinery construction business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.