Home Repair Business
Starting Your Own Home Repair Business
In today's troubling economy, people who have never considered working for themselves are finding it not only attractive, but in some cases necessary. If you are good with tools and have any construction experience, you might be considering opening your own home repair business. It is a valuable service and never goes out of style, which makes home repair a good business you can operate right from your own home to eliminate overhead expense.
Licensing
Before you even start, it is important to check with your local zoning board to find out what licensing is required for your specific business. Local, state and federal laws may also apply. In some cases, even where licensing is not strictly required you will get more business by being licensed because your potential customers will feel more secure with your abilities.
Supplies
If you have worked construction for other companies, you may have used many of their tools and will need to build up your own supplies. While simple tools are probably not the issue, the expense of larger items may require you to obtain financing.
Get Your Plan in Action
Have a detailed business plan that lays out all of the specifics you will need such as tools, how you plan on attracting customers and what you expect to earn vs. what your expenses will be. Expenses include items such as utilities, vehicles, equipment, office supplies or help you require to run your office while you are out on the work sites. Having a well laid out business plan will also help you if you need to get loans for initial purchases or to keep your business running. A bank is more likely to take you seriously if they know you have done your homework and have reasonable expectations on what you will earn, as well as a good idea of what your growth will be over five to ten years.
Contractor or Subcontractor
If you have a vast amount of experience in many types of construction, you can become a contractor and oversee projects from start to finish. But, even if you only have experience in certain areas of construction such as painting, woodworking, tiling, etc., you can still work as a subcontractor and make yourself available to do the piecework for larger companies. Getting started as a subcontractor will also get you connections to the bigger world of contracting and allow you to build your reputation and your company.
