Questions To Ask Yourself Before You Start A Home Repair Business
To start a home repair business is to start an incredible journey to a profitable and emotionally rewarding career. But you need to be well-prepared, so here are some questions to ask yourself.
Question 1: Do I Have Enough Money To Start A Home Repair Business?
Starting any business requires significant investment. You need to have good financial stability if you’re going to succeed starting your own business and the home repair industry is no different. At Kitchen Solvers, we find that typical start-up costs range from $88,031 to $113,292. These figures are much lower compared to businesses in other industries, but they’re still substantial.
Question 2: Do I Want To Do All Home Repairs Or Should I Focus My Efforts?
You want to be able to take on as many jobs as possible, but you don’t want to fall in the “jack of all trades, master of none” paradigm. At Kitchen Solvers, we have found focusing on kitchens and bathrooms to be the most successful approach. This allows our franchise partners to focus their efforts and specialize in some of the most frequently renovated rooms in people’s homes.
Question 3: Do I Want To Start A Home Repair Business From Scratch Or Buy A Home Repair Franchise?
Starting a home repair business from scratch is incredibly risky. Even if you’re great at what you do, what reason will people have to seek you out if they don’t recognize your business’s name? Furthermore, it’s difficult to establish vital business relationships, such as with suppliers. For most people, buying a franchise is more prudent.
Question 4: Which Home Repair Franchise Should I Buy?
Obviously, we’re biased at Kitchen Solvers, and we have a right to be. We do everything we can to help our franchise partners thrive. You can read more about this here.
Question 5: How Many Employees Do I Want To Hire?
This depends on how much work you personally want to do and how much money you want to spend. Some home repair business owners do all the work themselves and have no staff so they can save on overhead costs. Some prefer to have a large staff to maximize revenue.
Question 6: Should I Set-up A Showroom For My Home Repair Business?
The answer here is similar to question five. Showrooms can definitely increase business, but they do increase overhead costs significantly, as well.
Kitchen Solvers Is Always Happy To Hear From Interested Parties.
To learn more about how to start a home repair business, please visit our blog. At Kitchen Solvers, we are always looking for qualified candidates to join our team. To learn more, please get in touch with us.