Bathroom remodeling is part of home renovation that is always in demand. It involves applying different designs in a bathroom and relocating fixtures or adding new ones.
For example, a customer may require you to relocate items or add fixtures like a steam room or a free-standing tub with a shower in their bathroom.
People usually desire to update their bathroom and make it more exciting. According to statistics, 33% of homeowners who renovated their bathrooms wanted a different look.
The research also discovered that almost half of Americans that year remodeled their master bathrooms. This shows that the bathroom remodeling business is a growing field and a good business idea. Here are more reasons why and how you should start a bathroom remodeling business.
Why Start a Bathroom Remodeling Business?
Bathroom remodeling is more than repairing fixtures. It involves a lot of creativity and design work. Specializing in remodeling bathrooms has several advantages, including the following.
Demand for Specialists and Remodeling Services is High
Bathrooms are one of the most used rooms in a house. This means the bathroom fixtures are used from time to time, causing them to wear and tear.
Homeowners may need a skilled specialist to fix or replace what is overused. For example, there may be a need to fix or replace standalone tubs in the master bathroom and other bathrooms in the house.
Standalone tubs are luxurious and aesthetically appealing, and they elevate the look of any bathroom. They come in different shapes and sizes that provide comfort to the users. That is why homeowners may want you to replace the free-standing tub accessories with new ones.
Some homeowners may also want you to install a brand new tub with specific qualities. This means more bathroom remodeling specialists are needed in different homes to perform different remodeling work.
Work Fast and Make More Profits
It is possible to make more profits depending on the type of remodeling you are doing. For example, renovating a showerhead or a free-standing tub can take less than one day.
It is possible to work fast and sometimes without assistance. Fewer work hours allow you to attend to other customers and make more money.
It also means you will not have to pay salaries if you work alone. This leaves you with more money.
When starting your bathroom remodeling business, you need fewer employees. This is because you may not have many customers, and business may be slow in the beginning.
Starting with a few employees reduces your overhead cost, including hiring workers and processing salaries. This makes managing your startup business easier.
Lower Startup Cost
The startup cost of a bathroom remodeling business is lower, especially if you choose to operate from your home. When starting with limited finances, you can avoid extra expenses like paying office rent.
Instead, work from your home. Spend the money you have on essential equipment. These are assets you need upfront, like a trailer and remodeling tools that don’t need large storage space.
Small Inventory Needs and Affordable Services
When you specialize as a bathroom remodeling expert, you need minimal inventory. Most of the tools and equipment will be specifically for remodeling bathrooms and nothing else.
At the same time, the possibility of getting more customers who need you to fix different items in their bathroom is high. Most homeowners may need you to fix their free-standing tub or walk-in shower that’s already in place. This can allow you to make more money as you work towards connecting with customers who want an entire bathroom renovation.
How Do you Start your Bathroom Remodeling Business?
The bathroom remodeling business is a lucrative field that allows you to offer your services to homeowners and landlords in your area. It is a job that requires professional certification, skill, experience, and creativity in your work.
For example, remodeling a large bathroom is different from remodeling a smaller one. Smaller bathrooms may require you to
- Make the bathroom space feel larger
- Choose specific floor and shower tiles
- Choose lighter colors for the bathroom decor.
This means that before starting your business, have a plan to guide you. Here is what you need to consider as well.
Register your Business
Register your business with the state authority. Different states may handle business registration procedures differently.
Make sure you are aware of the requirements of your state. Register also with IRS and get your employer number known as EIN (Employer Identification-Number). This will help you open a business bank account and pay your taxes. The business you register can be either of the following.
- Sole proprietorship
- Limited partnership
- Limited Liability Company
Secure Business Finances
A business needs working capital. Make sure you have enough finances to buy equipment and have some buffer money for operations.
The buffer money will help you manage your business until it starts to make profits.
Market Your Bathroom Remodeling Business
After setting up your business, you need to create awareness. Online marketing is one of the ways you can reach more customers.
Build a business website and establish an online presence. You can also market your business on social media.
Other marketing strategies include informing your friends and family and encouraging them to spread the word. Also, consider joining networks of professionals in the same field and making helpful connections. Such connections can lead to referrals and increase your customer base.
Bathroom remodeling is a business with great potential. Everyone at some point may need to fix or remodel their bathrooms. This means it is possible to build your reputation and a customer base once you establish your business.
The cost of starting a bathroom remodeling business is low, and you don’t need much equipment. It is also possible to work from your house with few employees as you start. The business has great potential of growing and becoming successful. Bathroom remodeling is a good business idea if you think of starting a remodeling business.