Starting a Remodeling Business: Tips, Money-Saving Techniques, and Pitfalls
Today’s post spotlights some major mistakes, missed opportunities, and money-saving techniques that will come in handy for those interested in starting a remodeling business.
- Don’t ignore the value of marketing early on. While it’s true that your first priority should be on developing a sellable product or service – in this case, the vendor connections and remodeling skills that justify starting a remodeling business – you cannot ignore marketing in the early going. It’s essential for acquiring the clients that will make you money and help you build a reputation, which is badly needed in this trust-based industry.Nowadays, web marketing is standard, so be sure to research what’s involved in SEO and PPC.
You can also hire somebody to handle it all for you. But whatever you choose, remember: marketing is key to monetization. If you find yourself short on funds for marketing early on, you have early failed to plan properly, or hemorrhaged money elsewhere.
- Don’t waste time and money storing unnecessary inventory. Starting a remodeling business guarantees that you’ll be buying and working with all kinds of construction materials. But that doesn’t mean you should waste time and money storing them.Either falling to allure of bulk savings or simply overestimating what’s needed for a job, many business owners end up with glutted inventories of mismatched backsplash tiles, countertop scrap, flooring, and fixtures. Sometimes this gets excessive to the point where owners actually have to invest in their inventory, whether that means renting storage space or moving to a larger facility.
Storing excess inventory isn’t the end of the world, but it’s just not necessary. At Kitchen Solvers, we refuse to tie up space or money on inventory. All of our materials are custom-ordered to fit the specific needs of the customer, and paid with the money exchanged up front, so you don’t have to to pay out of pocket or concern yourself with storage. Let somebody else handle it – you’re starting a remodeling business, not a warehouse.
- Don’t learn as you go. Starting a remodeling business means contending with a sizeable amounts of competitors. While there is certainly still room in the industry for others to thrive, there is no room for major mistakes any more. If you’re starting on your own, invest the time that’s required to learn all you need to know about marketing, financing, licensing, and installation.Trying to learn “on the job” in this industry means one of two things: playing catch-up, or practicing on clients’ homes. Neither are acceptable. If you’re trying to catch up on marketing knowledge, for example, you may have already made unfixable mistakes with the name you chosen, website hosting you bought, or SEO strategy you deployed. And if you’re practicing new skills on customers’ homes, you’re betraying their trust and on your way to building an unsalvageable reputation.
We understand that it’s hard to learn what you need to, or even identify what that is, before you get started. And that’s just another reason why Kitchen Solvers’ unparalleled training and support system – which is informed by over 30 years of experience and responsible for dozens of thriving franchises – is so valuable. Learn more about it here.
Find more tips for starting a remodeling business for free at https://www.kitchensolversfranchise.com.Back