Setting a startup is a tough task; add to that the global pandemic and the worldwide economic condition at present, people can turn down that idea fast. While this might sound reasonable, it’s always wise to dig in before you could come to a conclusion. Opposite to the common perception, some industries like home improvement have witnessed exponential growth even in the past months.
Home quarantine to observe strict lockdown has come to the aid of the home improvement industry. During the last months, since people had no choice but to stay home, they are now looking forward to improving their lifestyle with home improvement projects. Lifestyle upgrade is a must, whether in terms of technology or design. So now is an as good time as any to dip your fingers in this industry.
Another major factor for home improvement, apart from improving lifestyle, is to enhance the value of a property. It benefits the homeowners in the longer run. According to Forbes, the total homeowner equity has nearly doubled in the past five years. No doubt, homeowners are more susceptible to spend money in their own homes.
Yet, to opt for a startup means a lot of work. Here are a few tips which might help you:
Location Is Important
The first order of business is choosing an ideal location. The location you select determines your audience, especially in the case of a home improvement business. Homeowners would not want to hire a contractor from another city as such projects require on-site work.
Set Your Prices Right
Study and observe the competitors in your area and see how much they charge, and then develop your pricing accordingly. If you set your price too high than the competitors, no matter how good services you provide, the clients might shy away from stepping into your store.
Market Yourself
Make sure that people know about the services you provide. Opening a retail shop in the city won’t help you reach out to people, especially in this digital world where people search the internet for reviews & other details before stepping into a grocery store. Plan carefully and invest in a good marketing strategy to build a good client base. You can invest in online presence, providing introductory offers, and so on.
Focus On Keeping Your Clients Happy
More business will come from the references of clients that you already worked with. Thus, always aim to build a strong and healthy relationship with your client.
Licencing and Permits
The consumer complaint survey report by the Consumer Federation of America said many contractors are working without proper licenses required. Avoid such mistakes & keep your papers up-to-date to save yourself from future troubles.
Professional Knowledge
You might’ve studied the procedure of home improvement, but lack of practical knowledge can pose a problem. Make you do your research and gain relevant experiences before setting up your own business. You will then be prepared to face all kinds of questions put up by clients and deal with unplanned circumstances. Don’t let your clients back out because of financial problems, let them know the different ways to pay for a home remodel. You can provide them with easy financing options. Wondering how?
We at CustomFin have helped multiple home improvement contractors with client financing solutions. Sign up to know more.
[…] Offer small tie-ups for events or shout-outs. Let your consumers know about the good work happening around them. Here’s what is happening with home improvement start-ups. […]