Launching your own home services business could turn into a very lucrative venture for you and your family. Before starting, it’s important to choose a niche that you have professional knowledge in and that you like. Home services can be a great choice.
Follow the tips below for running your own home services business.
1. Start the Paperwork
After determining your niche, whether opening a drywall franchise or something else, it is important to get started on the paperwork right away. This will allow you to begin operating your business as soon as possible.
The first step is to register your business with the state you’re business will be in.
Every business requires tax identification as well which can be done through obtaining an EIN, or Employer Identification Number. An EIN will also help you get a bank account for your business.
2. Get Licensed and Insured
Every state has differing requirements for the licensing process. It is important to ask your state’s licensing board specific questions to determine what exactly needs to be done to obtain licensure for your business. Each state will require certain documents in the licensing process to make your business legal.
After your business has become licensed, it is essential to get insurance coverage for your business. This insurance should cover worker’s compensation coverage and liability for damages to properties and injuries. Make sure your insurance is meeting your state’s requirements and the specific type of activities you’ll be doing on people’s properties.
3. Make Sure You Know and Have the Tools You Need
When opening a handyman franchise for example, you will need tools such as T-squares, hammers, utility knives, tool belt, power tools, ladders, sanding poles and sheets, sanding sponges, drywall screws and jab saws.
Every home services business will require different tools, however. A real estate business may require you to have new suites, reliable transportation and software that helps you in your work.
It’s important to note that you will probably have to use your own capital and cash to buy these tools at first in order to offer the best services possible. Only buy what you can afford in your budget, so start with just the basic essentials for your business rather than everything.
4. Gain Customers and Clientele Through Marketing
In order for anyone to find out about your business, you have to market your business. Advertising is at the heart of obtaining new customers. Utilize social media, print advertisements or word of mouth to gain new clientele and customers.
Allow your friends and family members to recommend your services to individuals they encounter, or perform services for your family and friends.
Free estimates are a great way for clients and customers to gauge what you can offer as well, and you have the ability to recommend services such as drywall repair when there.
5. Free Estimates
Offering free estimates as a promotion is a great way to gain new clientele and customers as you are able to share the repair work or service work that is needed on their homes.
Continuing to give estimates for free is a great way to grow your business. It is important to give a professional estimate that is not too low or too high so you do not lose money or lose work. Utilize guides and other businesses to get a feel for how much certain home jobs should cost.
Launching your own home services business, such as a drywall franchise, can be frightening, exciting and even overwhelming. It is important to follow the tips listed above to ensure you are ready to go for your first client and customer.
You can eventually reap great rewards after your business begins to succeed.
