There are always repairs and improvements needed to most properties but plenty of homeowners who need this work done don’t have either the time or the ability to be able to carry out the tasks themselves.
If you have the requisite skills to do a professional job and if you know where to get the right materials, Nasus supply has them for example, then you could be a good candidate for launching your own home improvement business.
Getting started with the paperwork
If you are often being complimented on your painting and decorating skills and getting asked by friends and family to do a job for them, that is just one reason why you could make a success of launching a painting and decorating business.
Once you have decided to launch your business, one of your first tasks is to get all of the necessary paperwork under way.
There are two main steps that you need to take before you are ready to start providing your services to paying customers. You will have to register your business with the Secretary of State and decide at that point what type of company you register, with an LLC being one of the most popular choices for a small business owner.
You also require a federal EIN , which is your employer identification number and will be needed in order to be able to set up a bank account for your new business and file taxes.
Different state requirements
The next step in the process will involve making enquiries with your relevant state authorities to see what licenses you will need.
The requirements vary according to the state that you are living and working in, so find out what paperwork you need to fill in so that you are legal and ready to go.
You will also need to get some insurance cover. It is normal to get general liability insurance that covers you for $1,000,000 and finally on the paperwork front, sort out your workers comp requirements, which you can enquire about through your local government office if you are not sure.
Getting tooled up for the job
Having completed the paperwork required, you will be ready to get all of the tools and supplies that you need to be able to start trading and earning money from your new venture.
Depending on the type of services that you intend to offer to customers, some startup cash will be required to be able to get some of the vital tools of the trade that you will be depending on to enable you to complete a professional job and hopefully result in a satisfied customer.
Most new business owners are starting out on a limited budget, so work out what services you want to offer and what equipment you can afford to buy. Trying to buy everything in one go is probably going to put your finances under too much strain, so look to get the basics that allow you to do the job and then add to your inventory once the money starts to come in and job orders stack up.
Marketing your business
You could be the most talented tradesman in the state but without advertising your business, it is going to be a struggle to get established.
It makes sense to network with family, friends and acquaintances to see if you can get some jobs to get started with, and printing off some flyers to distribute in your local area is also a tactic that can often yield some results and get you some paid jobs.
Offer free estimates and if the opportunity presents itself, speak to some homeowners if you notice that they house needs some attention, to see if they want to get you to quote for the work that needs doing.
Social media is a great opportunity to market your business for little outlay or for free, so set up a Facebook page for your business and start interacting with people who visit the page or leave messages.
Even when you have a very good idea of what you are doing from a professional trades perspective, it can sometimes take a little while to get a handle on how to properly estimate for the work.
If you over-estimate you may miss the opportunity to get the work, but go too low in order to get the job, and you could actually end up losing money after paying for materials and working out how much time you have taken.
Launching your own business can be a daunting and exciting opportunity in equal measure, but you should soon find your feet and enjoy the challenge of getting the rewards that your professional talents deserve.