One of the most popular business models for DIYers to get into business is to start a home remodeling company.
Not only is it a recession proof business, it is a lucrative one if you establish a reputation as a strong tradesman with an excellent eye for design.
Among the most commonHome Remodeling projects will be basement finishing, kitchen remodeling and bathroom remodeling. Once you master these, you may be ready to go into developing and building custom homes from the ground up. Understand that full-scale construction likely requires a license, depending on where you live.
One of the many great things about being in business for yourself and being a Home Remodeling contractor is that it does not take much money to get started. There are investment companies that primarily focus in construction as well, in case you need to bring on a partner to help you run the business. Aside from a website and the carpentry and architecture skills, all you’ll need is a good saw.
Once you have the necessary equipment and skills, you’ll need to get customers. The best way of getting in front of home owners to discuss your remodeling services is to get referrals from family, friends and people who you have done business with previously. Since this is difficult to do when you are just starting out, it makes sense for you to learn the basics of low cost internet marketing to get your first construction projects underway.
Getting Construction Clients
While building a website and a Google Maps listing for your home remodeling company may seem like a difficult task for a hammer swinger. The truth is, it’s not all that difficult. To setup a maps listing, simply search for “Google My Business” type in a bit about what remodeling and construction services you provide and tell people how they can get in touch with you. Google will send you a postcard to verify that you’re a real person and BOOM, you’re in business.
What Remodeling Services You Should Offer
A mistake that several DIYers turned contractors make is that they try to be everything to everybody. This means that they do not pick an area of focus and will do any project that comes their way. There are a number of reasons why this is a bad idea, primarily the fact that your work will not be as good as it would be if you were to just pick one area of expertise. If you are great at basement finishing, specialize in it. If you are great at kitchen remodeling or bathroom caulking, Great! do that. Once you master one of these areas, you’ll be able to move on to larger projects such as new home construction or complete redesign.
Make Partners In the Trades
Don’t underestimate the significant difference referrals can make for a small time contractor. If you know people who work in real estate, make sure you give them business cards and take them out to lunch frequently. You’ll want to be in their good graces and on top of mind when they are talking about home improvement with their real estate clients. Many of the people they work with and know well could also benefit from your services.
Invest In Real Estate
Once you start getting some stable income as a contractor, you’ll want to expand your business by adding a couple employees. Don’t grow too fast however as typically that can lead to projects getting overlooked and poor workmanship on the job site.
As your business expands, you’ll find properties that are unloved that you are able to rehab with your know-how. Don’t be afraid to purchase these properties at a bargain, put some TLC into them and then put them on the market. Nothing will be more beneficial to you as a business person than standing in your clients shoes and working on YOUR OWN home instead of theirs. You’ll also be “eating your own cooking” so to speak and should be able to make a healthy profit