4 Steps For Starting A Remodeling Company
If you’re interested in starting your own business, the remodeling industry has lots of demand right now. Here’s how to start a remodeling company.
1. Think Carefully About What Kind Of Remodeling Company You Want To Start.
The first step in how to start a remodeling company is to think. Do you want to go it alone or do you want somebody by your side supporting you? Going it alone means you get to keep 100% of your profits and you don’t have to pay a franchising fee. It also means you have 100% of the responsibilities and tasks to open and grow your business. In the remodeling industry, it can be difficult to manage sales, operations, project management, product ordering, design, and marketing alone.
Even experienced handy people find it difficult to attract customers when they start their own business. People who don’t know you have no idea if you’re a good person to hire to remodel their kitchen or bathroom. However, if they know your franchise company, they might trust you. Buying a remodeling franchise from an established and successful company gives you a leg up on the competition. The franchisor can also teach you what you need to know, not just about remodeling, but also about marketing and making important business connections.
2. Make Sure You Have Enough Money To Start A Remodeling Company.
Remodeling businesses are low-cost businesses. You can operate out of your own home and you don’t need more than one or two employees. You can even do all the remodels yourself as you start out, so there are very few overhead costs.
But low cost doesn’t mean no cost. This is a business we’re talking about here, not a personal purchase, so significant investment is required. If you don’t have at least $30,000 in liquid assets and a net worth of $150,000, it’s best to save up until you reach those benchmarks. Trying to survive on a shoestring budget isn’t a great way to run a remodeling business.
3. Get In The Right Mindset.
Many people consider starting a remodeling company either because they enjoy working with their hands or simply because they think it will be a wise investment. Both are great reasons to start a remodeling business, but there’s something you must keep in mind.
Home remodeling is a service. You are providing a service to your customers. That makes customer service absolutely crucial. You need the right disposition to keep your customers happy throughout every phase of the remodeling process.
At Kitchen Solvers, we won’t be the right choice for every single person looking to start a remodeling company. But you’d be doing yourself a disservice by not even talking to us. We’re always looking for qualified candidates to head up one of our home remodeling franchises. To learn more, please get in touch with us.Back