Can You Start a Home Services Business From Scratch?
Whether you plan to work in concrete, flooring, landscaping, storage service, HVAC improvement, or anything in between, there is no time like the present to start a home services business.
Leaving the summer and entering into fall is the time of year when people want to update their house and fix potential issues, so you could stand to make a good profit. However, how do you get started and create a successful enterprise? Here at Making A Millennial Millionaire, we love to see people succeed and fulfill their dreams, so we have some tips for how to create a business plan and get your venture off the ground.
Choosing a Profitable Home Services Niche
If you want to start a home services business but you don’t know where to start, then you should look at what you do best. If you are good with woodwork or you have an eye for design, then you could start a company that frames houses or you could build decks and patios. If you take pride in your ability to clean the exterior of your own home, then you might start a business that power washes and cleans windows.
The thing about home services is that many homeowners don’t know how to do many tasks that you can do with your eyes closed, so if you market those services, the customers will come calling.
The First Step to Start Your Company? Create a Business Plan
Now that you've decided on the type of service you'll offer, the next step is to start a new company by creating a detailed business plan. You can either write one of these from scratch, or use a popular service like Zen Business to help guide you.
This document will lay out every step that will be required to get going, including where you will find your funding, what your target demographic will be and who you hope to market to in order to make your business grow. You'll also need to include the financial projections that you will need to hit in order to stay afloat, how you will find investors, and how many employees you will need to succeed.
Once you figure out all of the finer details of the plan, treat it like your guide. The whole reason you created this document is to give yourself an outline to succeed, so you may as well follow it!
Determine a Smart and Effective Invoicing Plan
As you begin to make money and bring in more customers, you will want to start creating invoices that are easy to use and send so that you can ensure that you always get paid on time. If you are tech savvy then you can create invoices on Microsoft Excel, but if you need help, then consider using an online invoice generator.
These programs are great because they allow you to choose from hundreds of pre-made templates that you can modify as needed. You can add your own text, logo, photos, and more, and it is easy to do. While you want the invoices to look pretty, you also want them to be effective. As a tip, consider adding instructions at the bottom of the invoice that tells your customers exactly how to pay, the methods they can use, and when payment is due.
Hiring Employees
As the money continues to flow in, you may have the need to hire at least a few employees that will either help in the office or go out to customers’ homes to provide your services. When looking for good help, you can try online resources like Indeed and CareerBuilder. You can also go to job fairs that cater specifically to businesses that do manual labor or home services and talk to the people you meet there.
Once you have your staff, you will want to have a positive work environment so that you can retain the best employees. Always show recognition for a job well done and be sure to pay your workers fairly. Also, allow a work/life balance where they work their eight hours and then they can go home to their families. If an employee calls out sick, don’t give them a hard time. They will appreciate your consideration.
In the end, every home services business will be different but if you follow these steps then you will be on the right track. Remember to be kind to your employees, create a business plan, and implement an effective invoicing strategy, and your company has a great chance to succeed.
John Dunbar is the founder of Housingsecrets.net. If you like this piece, check him out!
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