When a person or a family buys a house, they don’t keep it as it is. But they try to do all the things that transform the house into a home. And that’s when home improvement services such as remodeling, carpentry, landscaping, gardening, plumbing, contracting, and others. There are endless ways to reconstruct a home, make it completely unique from others, and enjoy a beautiful life. So, no matter what, the house owners will always look for extravagant ways to remodel their homes, and you could be in the business.
Home improvement services is a vast domain, and you have ample choice to choose any one of the services as per your preferences. Maybe you have always been interested in interior design, or the plumbing services are in higher demand in your area. Accordingly, you can choose your type of service and convert it into a full-time small business.
Another option to start a small business of home improvement services is to become a franchisor. As you become a franchise agent of a reputed brand, you are sure that clients will approach you easily. You can hire staff as per the prescribed procedures and carry on the business without major hassle.
Let us look into this business in detail.
Opportunities for home improvement services
The US government and regulations are introducing innovative concepts of environment-sustainable houses, products, and services, and this is becoming more of a trend amongst house buyers and house owners. The demand for environment-friendly homes is increasing, and this has changed the horizons of the home improvement industry in the country.
When it comes to greener alternatives, consumers prefer photoVoltic roofs as compared to the standard ones. Moreover, they prefer electrical systems and insulation components in the house to be more energy-efficient and not those that drain out all the energy. This not only reduces overall costs but also helps in maintaining the environment.
Let us look at the statistics for a while. In 2015, US households spent 326.1 billion dollars in home improvement activities and made themselves comfortable. In 2019, the same spending was estimated to reach around 400 billion US dollars.
Even if it is a small business owner in kitchen or bathroom remodeling or garden landscaping; the opportunities seem to be huge when we check the above statistics. In 2016, US households with an average annual income of more than 200,000 US dollars had sought professional assistance for interior designing services alone compared to the households having lesser revenue levels.
Both the trends prove that the US home improvement industry is undergoing a remarkable hike, and there will be a growing and steady demand for such services amongst the US households with decent income levels.
Home improvement business ideas are as follows:-
As we mentioned earlier, the types of home improvement services are varied and exhaustive, yet we would like to list a few home improvement services that are popular amongst house owners.
- Interior Design.
- House painting.
- Window cleaning and repair.
- Furniture maintenance, spraying, and polishing.
- Home cleaning.
- Electrical systems repair and maintenance.
- Home remodeling, kitchen, and bathroom remodeling.
- Air conditioning services.
- Carpet installation.
- Tile installation.
- Chimney installation, repair, and maintenance.
- Door installation and maintenance.
- Drainage repairs.
- Gutter cleaning and protection.
- Fence installation and repairs.
- Home repair and maintenance.
- Mirror installation.
- Molding installation and repair.
- Thermal insulation system installation, repair, and maintenance.
- Appliance repair.
- Heating system installation, repair, and maintenance.
- Handyman services.
Elements to consider before setting up a home improvement business:
- Top-notch quality of materials used – A home improvement service is based on the strength of materials used in the same. For instance, you can use fragile tiles for installation, but they won’t even last for a year. House owners will not look for the visual aspect of the materials; they will also evaluate the quality of materials used during the process. Hence, ensure that you do not try to fool any customers or get fooled by the suppliers. Double-check your quality standards and only then use them for improvement services.
- Staff – Your customer service skills might be much needed, but what is essential in a successful home improvement business – trained and expert staff. Always hire staff that is efficient, punctual, and humble in the work approach.
- Flexible as per the requirements – All homeowners do not want the house improvement to be made in the same manner. Some might need it in a certain way, and you will be required to make plenty of adjustments and alterations in the approach. Be ready to listen to the customers’ requirements and do the needful. You should be open-minded to include their specifications in the said project.
- Timeliness – It is obvious that a home improvement project consumes considerable time, and even if you provide an estimate, there will always be an extension. But the house owner might have lined up activities before or after your work. Hence, be polite in conveying a proper, realistic deadline to the customer.
How to grab the opportunities to form and grow a successful home improvement business?
- Research and research – Yes, it is the primary key to setting up a viable business in the city. You will have to check what’s in demand in the market and the nearby areas. You also have to know what you are interested in and decide on a particular service. Just assess what is needed in your target area, and you can make it a business plan.
- Seek help and mentor advice – You cannot do it all alone. You ought to seek an expert’s guidance during the entire process. Fortunately, even the Small Business Administration in the USA provides valuable advice and tips for small business entrepreneurs. If you know someone established in a similar type of business, seek their help.
- Online presence is a must – When house owners feel the urge to renovate or remodel their houses, they first check on the internet for contractors. So, you need to have a strong online presence in the form of an official website and social media channels.
- Register on home improvement business websites – There are loads of them, and you should be confident of getting yourself listed on these. Whoever searches for home improvement contractors will hop on these sites, for sure.
- Be active offline – Even if digital presence is essential these days, do not ignore the power of offline publicity and advertising. Keep flyers, brochures, and visiting cards ready; you never know when you have to distribute them. Similarly, post ads of your services in leading newspapers.
- Keep a tab on your resources – The things you advertise should be authentic in your business. And hence, assess your resources continuously and ensure that they are as per expected standards and guidelines.
In a nutshell, it is worth building and growing a business in the home improvement sector. Ensure that you enjoy each home improvement project and that you provide them with unique ideas and excellent quality work. Improving a home is like improving a household’s experience and comfort level.
Home improvement services can include anything from painting, flooring, drywall installation, plumbing, appliance repair, carpentry, installation of windows and doors, electrical wiring, and more.
Skills such as carpentry, electrical, plumbing and HVAC (heating, ventilation, air conditioning) are essential to start a successful home improvement business. In addition to these skills, customer service, business management and marketing are also important.
Safety should be your top priority when starting a home improvement business. Ensure you have the appropriate safety equipment and wear personal protective equipment for tasks such as using power tools or working with hazardous chemicals. Establish safety protocols for employees and customers and use these protocols to train your workers.
Depending on the type of services you’re offering, you may need to obtain a variety of licenses and permits from the appropriate government agencies. Make sure to research the requirements for your specific location and industry.
Liability insurance is the most basic form of insurance for a home improvement business. It provides protection in case of accidents that cause bodily injury or property damage. You may also need additional coverage such as workers’ compensation, professional errors and omissions and commercial general liability.
Networking and word of mouth are key to developing a successful home improvement business. Consider creating a website, write press releases to promote new services, use social media to reach your target customer base, and participate in local events such as home improvement shows.
When determining the price for your home improvement services, consider your costs, local competition, the customer’s budget and the value your services have for the customer. Establishing a flat rate for certain services or hourly rates for larger projects can help you come up with a fair and consistent pricing strategy.
To find clients for your home improvement business, network with other professionals, reach out to local realtors and participate in home improvement events. Consider developing partnerships with home decorators, interior designers and other service providers. Just make sure to leverage the right channels to reach your target audience.
Depending on the type of services you offer, you may need to invest in a variety of tools and equipment. This could include safety equipment, power tools, ladders, measuring devices and cleaning supplies. Make sure to choose the right equipment for your needs and always ensure they are in proper working condition.
Research local codes and regulations before starting your home improvement business and make sure you are compliant with all the necessary requirements. Additionally, keep detailed records of client work and accounts, develop an effective marketing plan, have the right insurance and invest in reliable customer service software.