So you’re pretty good with your hands and can take on any DIY job that crops up around the house, and you’re also seasoned when it comes to helping out friends and family with their own home improvement projects. If this describes you, then you’ve probably thought about the possibility of turning your passion into a profession, and going into business as a renovation contractor. Rather than leaving this as an unfulfilled ambition, the following tips will let you make it happen if you want it to.
Start With a Business Plan: Research Your Market and Set Goals
Succeeding with a home renovations business requires planning, organization, and an understanding of the market. To begin your journey, you need to create a business plan that clearly outlines your goals for this venture. If you’re already used to planning home improvement projects, this will be second nature. Research what other similar businesses are doing in terms of pricing and services offered to ensure that you’re competitively placed in the marketplace.
Also, think about why customers should choose your business over others. Is it because of the experience level you offer, the quality of the finish you can provide, or the imagination and uniqueness you can bring to the table?
You also need to consider how much money you want/need to make from this venture, and set yourself realistic expectations so as not to be overwhelmed at the start. This will help with adjusting your pricing, and plotting out when you’ll be able to turn a profit. Finally, think about risk management. Ask yourself what you’ll do if something goes wrong, and how you will protect yourself financially if your new business falters. Being aware ahead of time will help prevent any nasty surprises down the line.
Send Professional Invoices, Using Specialist Software
Sending professional invoices is essential for any successful business, especially in the home renovations market. It’s a great way to ensure you get paid on time, and having an organized system will help make the process easier in the long run. Consider using specialist software if possible, as this can save you from manually entering data every single time. For instance, with window and door estimating software it’s easier to give quotes and conjure up invoices if this is the particular niche you’re targeting.
When it comes to creating your invoice template, be sure that all necessary details are included, such as payment terms, due date and total amount payable. The customer should also have clear instructions of how they can pay, whether that’s via bank transfer, a specific digital payment gateway, or cash. Finally, provide contact information so customers know who to reach out with questions or queries regarding their bill.
Invest in the Right Tools for the Job – Quality Matters!
Selecting suitable equipment is vital to thrive as a DIY enthusiast turned professional contractor. Quality matters in this context, as it will influence how long you can keep working, and how satisfied customers are with their results. Consider buying well-made power tools and manual equipment that can withstand heavy use over time, as this will save you money by reducing the regularity with which you have to repair or replace it.
When shopping around, look out for good deals. Sales or discounts may be available on certain products which can help reduce overall expenses, and of course you can deduct some of these costs from your tax bill, which is good to know. Don’t forget to think about safety too. Make sure any tool you buy meets safety regulations, and that you also kit yourself out with necessary protective gear, such as gloves and masks, when required. If people are paying for your services, then the right PPE and hardware are not just nice to have, but typically are a legal requirement which you cannot overlook.
Network to Find Clients: Word-of-Mouth Marketing is a Powerful Ally
Embracing networking is a vital step in securing those all-important first clients for your home renovations business. Speak to family and friends, attend local events, and join professional associations, as these are all great ways to let people know about your services.
You can push the power of word-of-mouth marketing even further. For instance, ask satisfied customers if they wouldn’t mind recommending you to other people, perhaps in exchange for a referral discount on their next project. Social media can also be an effective tool in this context, so set up profiles on popular platforms such as Facebook, Instagram and Twitter, then post regular updates with before and after pictures of projects you work on. This will help build trust amongst potential customers who may not have heard about you otherwise.
Lastly, don’t neglect traditional advertising methods such as newspapers or flyers. These could reach more people than you might think, especially in your local area.
Turning your DIY skills into cash is not that difficult, but it does take a bit of business savvy to get off to a good start in this space. Now you know what’s involved, the next step is up to you.