So, you’ve done a lot of home renovations on your home and for your friends… Now you’re interested in starting your own business. Typically, this is a relatively simple business to start, and you’ll have plenty of customers, especially if you’re going to start out focusing on your town. People likely know you by name and reputation when you focus close to home, so you won’t have to do a lot of legwork right off the bat.
So how do you start your home improvement business? Your first step should be to ask yourself if you’re cut out for business ownership. Being your own boss may sound fun, and you won’t have to answer to anyone but yourself. This is not the case, fully. You’re now going to be answering to all of your customers. They will expect you at their home on time and the job finished within the agreed-upon time frame.
If you can’t do this, then you should stop reading now. If you’re still interested in learning how to start your business, some essential tips are listed below.
Ever hear the saying “jack of all trades, master of none?” Taking this approach is not good if you want to have a successful business. Instead, figure out what do you like to do. Do you love to stain and paint? Or do you really enjoy repairing appliances? Frequently people find out they enjoy what they are the best at. If you can’t stand painting and aren’t that great at it, your best bet is not to offer those services.
Now that you’re not just doing home improvement projects for friends and family, it’s time to make sure you have the proper tools. There is no more using a butter knife to turn into a flat head screw. This is another reason it’s so important to decide on your services from the start. You’ll save a lot of time, money, and emergency trips to the hardware store getting the tools you’ll need.
One money-saving tip is to think about renting tools instead of buying them. This makes it much easier because you won’t have to worry about replacing them, and if something breaks, just turn that one in for a new one. This brings me to the next tip. Instead of buying a company truck, consider using a long-term pickup rental company. You have no idea how much money this could end up saving you. Like renting tools, you’ll get the newest models, you won’t have to worry about upkeep, which is one of the best parts.
Now that you know your specialty and have the right tools, it’s time to start working, right? Not yet. First, you need to get business insurance. This is how you protect yourself and your company from any lawsuits or damages that may occur while you’re on the job. If you hire anyone, you’ll also be required to purchase workers comp insurance.
One of the biggest mistakes you can make when going into business for yourself is not purchasing business insurance. If you do not take the time to acquire a good insurance policy that covers you for liability, you’ll likely end up not just losing your business but going bankrupt and ruining your reputation as well. Each state has its specific insurance requirements. If you don’t know what yours are, you can ask a broker or find it online.
Now it’s time to set up shop and start marketing yourself so you can start making money. It’s a good idea to choose a name and logo design for your company because it helps you look more professional. Asking friends and family for help on these two things can be a lot of fun, and it might help out quite a lot.
Once you’re all up and running, you’ll need to focus on how you’re going to market yourself. Craigslist used to be everyone’s first choice until the rise of social media. Now, the majority of businesses choose to advertise on those platforms instead. Another good idea is to start a blog. The more information you have out there, the more likely your name will come up in search engine results.
Create a vision for your business that you’re able to bring to life. Knowing what you want will help you to keep moving forward to achieve your goals. Most people know that the majority of businesses don’t make it past three years. Be ready to put in the time and effort so you’ll be one of the ones that do.