A home repair business is an excellent business to get into. Many people need help with home repairs, landscaping and other home projects and are always looking for the best quality deal. If you are interested in starting a home repair business you will need to make a business plan, get the proper certificates and permits and market your business for success.
Business Plan for Home Improvement
- Every good business starts with a detailed business plan. The business plan puts into perspective your goals and projections for the business as well as providing a way for you to stay on top of and meet your goals.
- Start by writing a summary of the type of business you are planning on incorporating. In the summary, include the different types of services you will be providing such as landscaping, roofing, plumbing and so on.
- All financial records should be included in the business plan. Gather together your financial records for at least the last five years including bank statements, tax records and other assets and liabilities. List the names and contacts of financial institutions that hold your current and past accounts. This is essential if you plan on finding financial investors to help fund your business.
- Plan a marketing strategy to help grow your business. Include website development and maintenance, phone book advertising and newspaper and local magazine advertisements.
License, Permits and other Requirements for Home Repair Business
- The type of licenses and permits you may need will depend upon what services you will be providing to your customers as well as the rules and regulations for the city, county and state where you are located.
- Insurance is another must for a home repair business. There are several types of insurance policies to check into to make sure that your company is completely protected. For instance, you will need insurance for you and any helpers or employees as well as a liability insurance to cover any accidents or damages that may occur at a customer’s home or business.
- It’s a good idea to get certified for the different services you will be providing. Certifications instill confidence in your abilities for your customers.
- Several types of documentation will be needed once the business is started. Estimating reports, financial reports, contracts and agreements for your customers, and a host of other reports and documents will need to be constructed and tailored to your business needs.
Marketing your Business and Services
- Without a good marketing strategy your company will not be able to survive. Marketing is important to gain new customers to keep the business going. Develop a website that details your services and post ads in local newspapers and magazines. Ask your customers if they know of any friends or family members who might be interested in your services and offer them a discount if they refer someone who uses your company.
- Post flyers and posters around town to announce your business. Visit trade shows and other related events to see what your competitors are doing and also to learn about any new trends or equipment that can help your business.