The beauty of home remodeling business is that it blooms in hot as well as cold housing market. When the market is hot and there are many buyers and sellers, the sellers tend to remodel their homes before selling to get a good price; and the most buyers engage in remodeling in the first year of their purchase. It is a win-win for home remodeling business. Following are the steps you need to take to start your home remodeling business.
Get Your Training and License
If you are completely new to the remodeling business, you need training and certification. However, if you know the trade well, you still need certification. The primary trade association for remodeling industry is the National Association of the Remodeling Industry.
Choose Your Niche
Remodeling is a broad field, and it is mandatory, not optional, for the new businesses to choose their niche. You can choose between remodeling commercial or residential properties. Within these broad niches, you can specialize in remodeling apartments, condos, damaged buildings, or specific architectural styles. In the start, you should choose a niche that is quite narrow. Afterwards, you might consider expanding it.
Find Your Tradesmen
When it comes to remodeling a house, there will be some things that you can’t do on your own, such as electrics, plumbing or even window replacements. This is when you will need to find a tradesman that specialises in window replacement in Atlanta or a similar, more local option. They will be able to help you fulfill your vision when it comes to creating the dream home. As time goes on, you can start to create yourself a list of go-to tradesmen that will be able to continually help you in the future. If you have a house that needs a large roof repair, for instance, you’re going to need someone similar to these Roanoke roofing companies on speed dial. Build your relationships with them as you go, if you repeatedly use the same contractor, you may be in luck with a discount!
Build Your Client Network
If you are new to the industry, it is quite probable that you do not have many clients. There are certain steps, however, that you can take to build a solid client network. First, register yourself in The Blue Book of Building and Construction. Then, do some online marketing. Get information about SEO marketing, post your ads on classified ads websites, maintain a social media page, and have a basic web presence for your home remodeling business.
Business Liability Insurance
Like every new business, having general liability insurance can protect you from damages incurred after a project completes. This can be bodily injuries or property damage resulting from your remodeling project. Other liability insurances like worker’s compensation and commercial auto are also important in construction and remodeling businesses. Worker’s compensation is a great deal in this industry as it accounts for a significant amount of workplace injuries. You can approach a reputed insurance technology company like Foxquilt to get a quote on your liability insurance requirements.
For any new business, clients would often want to see your portfolio: the projects you have done in the past. If you do not have an impressive portfolio yet, consider working as a sub-contractor. This means that you have to share the margins, but it will allow you to build a portfolio and spread the word. Later, when you start your own firm, make sure you do the right research and plan your steps for building a successful remodeling business.
Todd is an avid home blogger, with the goal of helping his readers find inspiration and ideas for their next project. He writes about everything from small design projects to large renovations. His goal is to help people transform their homes into something that reflects who they are.
