A home improvement business is an ideal home-based business for anyone who wants to make money putting their carpentry and construction skills to work. Such a business will give you the ability to make money regardless of the overall economy. No matter whether the housing industry is hot or cold, people in the home improvement industry make good money. During upturns, homeowners will renovate their homes rather than purchasing a new home at a higher price. Likewise, during downturns, homeowners will renovate their homes to bring up the value of their properties. A remodeling contractor makes money regardless of the economy in the country or locality.
In fact, you don’t need to be an extremely skilled professional to start a home improvement business. You can always hire subcontractors to do the work for you if you have some knowledge in the construction industry. This article provides a comprehensive overview of starting a home improvement business which is one of the best in all types of economies.
If you don’t want to start a business from scratch you can check out existing businesses for sale online. One such website with many business for sale is this one.
The majority of homeowners make improvements to their homes immediately, during the first or second year of ownership. Hence, you should not delay getting into the home remodeling market if you have experience in the building industry. There are many reasons for this. First, the remodeling industry is predominantly populated by self-employed individuals just like you. The capital needed to start such a business is much less compared to a new construction project.
The latest report released by the U.S. Census Bureau states that more than 90% of homeowners are not do-it-yourself-ers when it comes to home remodeling projects. They prefer to hire a professional renovating company to do the job instead of trying to do it on their own. Remodeling contractors can specialise any way they wish to. You can specialise in remodeling commercial establishments or residences. There are also other niches within the commercial remodeling industry such as making tenant improvement in buildings that are occupied by renters, rehabilitation of historic structures, and adapting buildings from one type of use to another.
Residential re-modelers also can specialise in different niches such as restoring homes that are damaged by fires, renovating historic homes, renovating apartments and condos, and remodeling homes with specific architectural styles. There are many remodeling contractors who are bathroom improvement specialists, kitchens, sun-rooms, mother-in-law suites, greenhouses, and many other structures. Green remodeling is a very popular branch of home remodeling these days. They use non-toxic building materials while making spaces in the homes more energy-efficient. Also, these companies use recyclable building materials for all their projects.
Being successful in a home improvement business requires you have hands-on experience in the industry. Whether you plan to do the work yourself or hire subcontractors, you need to have a good knowledge of the subject matter. You need to have adequate experience in ordering the materials, scheduling the work and supervising your employees or subcontractors. The work done should meet the building codes of the area and satisfy the clients. Most states in the United States license their building contractors. You need to have the proper license and insurance coverage to perform this type of service. These are very important factors to consider when starting a home improvement business in your area.
National Association of the Remodeling Industry is the primary trade organisation in the home improvement industry. The organisation offers four types of certification for anyone interested in starting their own house remodelling business. Satisfied clients are the key to the success of your business. Repeat businesses and referrals from past customers are what keep the business coming in where home improvement businesses are concerned. Develop contacts with building material manufacturers, retail suppliers, distributors, and lumberyards to find the first customer for your business. Other services such as home insurance companies, architects, and home inspectors are also a great way to get your first customer. Listing your business in The Blue Book of Building and Construction is another way to popularise your business.
A professional website is essential for a new home improvement business. It is the best way to build brand awareness and popularise your home remodelling business. Promoting the website on your social media profiles will help attract more consumers to the business. The internet is the cheapest way to market your business these days. There are so many free classified ads websites where you can list your business. There are also other websites such as Yellow Pages, Yelp, Angie’s List and Google Places for this purpose.
There are some legal procedures that you need to follow to register your home improvement business (this will apply in most countries – if in doubt, check out your local obligations. You can go online and hire a legal document production service like the U.S. Legal Forms or Law Smart to create your articles of incorporation. You also need to register the business and obtain an Employer Identification Number (known as an Australian Business Number ABN in Australia) for your home improvement business. You need to contact the secretary of state’s office to obtain an application form to register a name for your business. Complete this form and return it to the secretary of state’s office. Go to the IRS’ website to complete the form and obtain an EIN or Employer Identification Number. Licensing laws would differ from state to state and country to country.
You can obtain a general contractor’s license or a residential remodelling license. The state’s department of business will offer information about the licensing procedure in your state. You can visit their website on the net for this purpose. There is a small fee involved in this process. Insurance is another important factor to consider when starting a home improvement business. Contact a licensed insurance broker in your area for this purpose. Ask them what they can offer for your home renovation business. You may need liability insurance as well as be bonded to do business in the renovation industry.
Make sure your contract experienced and licensed subcontractors if you plan to hire their services. It will help you succeed in your home improvement business in the long run.
Ideas for tradies: Carpenters who want to go into business in home improvement could start a deck building business, or become a home handyman in their local area. These sorts of businesses are in high demand