So, You Want to Start a Home Improvement Company In launching your own business, long-term success relies more on the planning than the timing By Jim Cory October 22, In business, as in life, everyone starts somewhere. Check out our Success Habit series. Even a few years ago, colleagues may have questioned your sanity. Fallout from the housing crash, followed by the recession, was intense.
Regardless of what is going on in the real estate market, remodeling contractors are always needed, as homeowners are continually looking for ways to update and improve their homes.
When starting a remodeling business, you must consider a few factors and follow the proper steps in the process. Create a business plan for your remodeling company.
In the business plan, outline the services and products that you offer your customers. Also, include information about whether you plan on getting involved with a franchise or starting on your own.
In the business plan, include financial projections based on research on rates and customers in your area. Examine the competition in your area to see if another remodeling business could realistically be supported. Purchase the necessary licenses in your area. You will need to buy a business license from your city government.
Since you will be a contractor, you may also need to buy a contractors license, depending on local and state laws. Some areas also require contractors to be bonded as well.
This will require you to buy a surety bond from a bond company. Handle the legal aspects of setting up a remodeling business. Set up a limited liability company or a corporation so that you can limit your personal liability. You will also need to buy an insurance policy for your business.
It should provide you with general liability coverage as well as protection for your equipment and property. Search for the name you choose "doing business as" to make sure the name isn't already in use in your state, and then register your business name with your state.
You can usually do this on your state's secretary of state website. Acquire the necessary tools and equipment for your business. Depending on the nature of your remodeling, you could need many different types of tools.
For example, this could include buying hammers, nail guns, saws, pry bars, screwdrivers, pliers, tape measures and other items. You also will need a work truck or van to travel to the jobs and carry your tools.
Consider joining a remodelers or builders association in your area. This can help you get to know some of the other people in your trade.
By networking, you can often find out about opportunities in your area to generate business or develop relationships. Promote your remodeling business in the community. Many remodelers work off of referrals, so when you get a job, it is important to go out of your way to make the customer happy.
Consider setting up a referral program with your customers in which you pay a referral fee for each customer who recommends you to a friend. Advertise in the newspaper, online, on the radio or on TV as well.
When you are just getting started in the remodeling business, you may also want to offer a promotion to get some customers. For instance, you may want to offer a flat fee for a specific project that you can offer your customers.
Tip Consider specializing in a particular niche area of remodeling. For example, specializing in green building projects or focusing on kitchen remodels could help you pick up market share in this category.Home improvement repairs and remodeling existing structures, the demand for more energy efficient homes, and improving economics are all trending up.
The key to getting off on the right foot includes creating a clear business plan, being honest with yourself, capital and a mentor. A Sample Home Remodeling Business Plan Template Are you about starting a home remodeling company?
If YES, here is a complete sample home remodeling business plan template & feasibility report you can use for FREE. From DIY home improvement projects to kitchen remodeling, discover helpful tips, ideas and how-tos for your next remodeling project.
When Jim Kabel made the shift from the corporate world to owning his own remodeling company, Case Handyman & Remodeling, in San Jose, Calif., he brought with him a slew of ideas for best urbanagricultureinitiative.com of the most important of these is the need for a .
1. Create a business plan for your remodeling company. In the business plan, outline the services and products that you offer your customers.
Also, include information about whether you plan on. Remodeling Business Plan. Comgate is a mill house with a mission statement to be profitably competitive in the field of creating custom high-end woodwork for the high-end residential market in the state of Connecticut, generally for homes valued at $3 to $15 million dollars.