If you want to get into the business of house remodelingIn principle you are motivated and you will have planned that business in the long term, but the main thing is that you know the requirements so that your business is within the regulations required by law.
Steps to open a home remodeling business
A business of house remodeling It requires like any other business that you follow a step by step so as not to get lost along the way and you can do everything correctly, then …
Step 1: Define what your skills are and based on this, think about the services you are going to offer and if one of them is your specialty, offer it as your main service.
Step 2: Define your target audience, think of clients who need to repair their home and would be willing to pay for it, as there are many examples of potential clients from students who need help to remodel their house to single or divorced women who, living alone, do not they have someone to help them with the remodeling of their house and they choose to pay to keep their house in good condition.
Step 3: You have already determined your business plan and you know to which target audience you will direct your business, so now you must choose the name of your home remodeling business. Remember that you can choose your own name or a fictitious name, therefore if you choose a fictitious name you must register it and make sure that no other business has chosen and registered it previously.
Step 4: Determine the legal structure of your business between sole proprietorship, corporation or limited liability company, contact a lawyer to advise you on the best commercial structure for your business and your needs. As a small business you may think of a sole proprietorship structure but an LLC or limited liability company is the structure that gives you the most protection from liability and is the most necessary when you are engaged in activities that can be dangerous for third parties.
Step 5: For your business to look professional you should choose a logo with a slogan that identifies the essence of your business, if you do not know how to do it you can hire a graphic designer and it will surely be the best investment so that your business is remembered with ease and professionalism .
Step 6: Prepare and print your business cards to distribute to potential clients, your friends and family who can distribute them to their own friends.
Step 7: Set up a business address that is separate from your home address.
Step 8: It is very likely that you need to obtain liability insurance, check with the county or city if you need it to open your business.
Step 9: The laws are different from state to state, but generally you will need a general contractor license or residential remodeling-renovation license, then you should consult this need with the department of business and professional regulation in your state and they will respond to you with the license and fee requirements.
Remodeling companies
If you want to open a remodeling company you must have the ability to remodel or repair and even build, unless you plan to hire employees to do the work for you and for you, but you must still know how to run the business in such a way that your employees are Led by someone like you who is trained to supervise employees or subcontractors, since only in this way will you be able to meet the needs of your customers.
National Association of the Remodeling Industry
The National Association of the Remodeling Industry is the trade association oriented to the remodeling industry that can help you launch your business with different certifications.
It is a non-profit association that represents professionals in remodeling within the United States grouping or more than 6000 members. Search your city for the corresponding NARI and by associating you benefit because you will find help to find a good remodeling partner, clients know that NARI members are leaders within the industry and are committed to ethics, quality and professionalism.
In addition, as a business owner, you can advertise it with your company logo including that of NARI, which will identify you as a member and therefore recognize that you are part of a professional company aimed at providing quality and ethical services.
The Blue Book of Building and Construction
You must also adhere to The Blue Book of Building and Construction, it is similar to the yellow pages due to its function, since you register as a home remodeling company and your company will be in the regional editions that are distributed to general contractors, managers of facilities and property managers.
Relationship Manager is the online tool launched by The Blue Book of Building and Construction so that all participants can interconnect and improve communication between the parties,
The Who’s Who in Building & Construction
It also features The Who’s Who in Building & Construction, regional magazines that are distributed free to those in the industry during the spring and fall season.
Well, if you were worried about the fact of being able to find clients or you were disoriented, this is the best way not only to find clients but also to interact with them and make yourself known within the home remodeling industry.
Tools and machinery
Once you have finished with all the legal questions to open your business legally, you have chosen the legal structure and registered your business in your state, buy the materials necessary for the first job, think about the tools and machinery you will need, but buy the This is the amount necessary for the crew of employees you have hired so that each crew has the tools and machinery they need to work and maintain good productivity.
Financing
If you need money, evaluate the possibility of applying for a small business loan or open a business credit card to buy tools, but also think about reducing costs by buying used equipment in good condition, at least to start your business .
How to start a home renovation business
A home renovation business is ideal because of its ability to make money regardless of the current economy. During recovery periods, people will renovate rather than buy at a higher price, while during recession, homeowners will renovate to increase property value. You do not necessarily have to be a qualified professional, because you can act as a broker or contractor, you can meetCheck in with clients, create a budget, and hire others to get the job done without having to rent a location.
1. Build your renovation business structure.
Hire an attorney to create your articles of incorporation, or go online to a legal document production service, such as US Legal Forms or Law Smart, and create the articles. File your renovation business items with the secretary of state.
2. Register the name of your company and obtain an Employer Identification Number.
Contact your state secretary’s office or county clerk’s office and obtain a fictitious name or assumed name registration request form. Fill out the application and return it to the secretary of state or county clerk. Go to the IRS Employer Identification Number application section on their website. Fill in the online application form and get an EIN.
3. Get licenses.
Laws differ from state to state but in general, you will need a general contractor’s license or a residential remodeling / renovation license. Check with your state department of business and professional regulation for licensing requirements and application fees.
4. Buy insurance.
Contact a licensed insurance broker and ask what insurance products to bring for your renovation business. Typically, you will need liability insurance and may need a surety to operate your renovation business.
5. Hiring of licensed and experienced subcontractors.
Contact your local Chamber of Commerce and Better Business Bureau to find qualified plumbers, electricians, carpenters, and heating, ventilation, and air conditioning specialists. Also, visit your state’s professional licensing division and do a search for service providers in your area and verify their licenses.
Resources
- IRS: Apply for an Employer Identification Number (EIN)