There are a few ways to start a business that specializes in modern bathroom renovation projects. Here’s how to get your business going and what you’ll need.
Are you interested in combining your passion for design with your expert knowledge of plumbing, home improvement, and general contractor experience?
If so, then you’ve likely already thought about starting your own bathroom renovation business.
However, in today’s market, you’ll need more than just passion and drive to make it happen.
You’ll also need a solid business plan, , and of course, a true mastery of your craft. Starting a business is just as intimidating as it is exciting — and we’ve written this post to help ensure that you get off on the right foot.
In addition to technical skill, you’ll also need to have an excellent mind for business.
Keep reading to learn the most important things that you need to know in order to start your own bathroom renovation business.
1. Refine Your Target Market
The first thing that you want to think about when you decide to start your own bathroom renovation business?
The specific type of market you want to serve. You might think that the fact that you plan to stick with bathroom remodels, exclusively, will narrow your market down enough.
However, especially in today’s competitive market, this simply isn’t the case.
Think about the type of style you like the best. Do you gravitate more towards a minimalist and modern look, or are you more interested in creating an antique-inspired design?
Are you an expert in installing decorative tiling, or is bathroom storage space more of your forte?
What sort of income levels would you like to serve? Are you interested in catering towards first-time homeowners, who might need more budget-friendly options? Or, are you willing to hold out for higher income clients, whose remodels will allow you to stretch your creative muscles — but might also mean less consistent work?
It’s important to start thinking about the specific target market for your bathroom renovation business as soon as possible. This will help you to create your overall branding and marketing strategy, think about the skill set you need to develop/refine, and even influence the other employees you hire.
Your market is the foundation of everything you do.
Make sure you’ve taken the time to really get to know if before you do anything else.
2. Write A Business Plan
Once you’ve defined your target market, the next step in creating your bathroom renovation business is to draft a .
This will not only help you to more clearly define your goals, it will also make it much easier for you to get approved for any type of business loan you’re considering applying for.
It can be tough to think about all the things that you’ll need to include in your overall business plan. It’s easy to include too much of the wrong information and not enough of what both investors and lenders would like to see.
First of all, make it a point to prove both your knowledge of and experience within the remodeling/renovation industry. Talk about what makes your company different, and the types of services you plan to provide.
As always, the more specific you can be, the better!
Then, move on to discussing your target market — especially within your exact service area.
Prove that you’ve done your research, and pull out some numbers here. What does the average family spend on renovations? Which neighborhoods are you planning to serve? Who are
Talk about your marketing plan and budget, as well as the fees you’ll charge for your services. Also, discuss your operating expenses, the number of employees you plan to hire, and any sort of financial goals or estimates you have.
Above all, let investors and lenders know when you expect to turn a profit!
3. Register Your Business
The next step in getting your bathroom renovation business off the ground?
You need to start looking into the process of registering your business.
First, you’ll need to ensure that no other company is currently using the name you’re interested in for your business. Once you’ve made sure that your business name is actually available, you’ll need to move quickly in order to claim it.
Make sure that you’ve researched with the required government agencies on both the state and the local level. Additionally, once you start working in people’s homes and offices?
Familiarize yourself with any potential building permits that you’ll need. This is especially important if you plan to work within a commercial space.
4. Look Into Licensing And Insurance
Once you’ve registered your business, you’ll also need to start thinking about the kinds of licensing and insurance that are required by your state.
Making sure that you’ve taken the time to get the proper licenses helps you to avoid hefty fines that most new businesses simply can’t afford to pay.
Again, these licenses will vary depending on the kinds of services you want to provide. You’ll likely need to get some sort of HVAC, electrical, and plumbing licensing. Additionally, you should expect to apply for commercial and residential contractors licenses.
When it comes to insurance, things are no less complicated for your bathroom renovation business.
You’ll likely need if you plan to hire other contractors to work for you. You may also need professional liability insurance, and may even want to get insurance for your tools and any equipment you’ll need to purchase.
5. Consider The Supplies You Need
When you’re starting a bathroom renovation business, you also need to think about the basic materials that you’re going to need.
Since you’re remodeling bathrooms, this means you’ll need to think about a lot more than just the design elements and types of tiles you want to use.
You’ll also need to familiarize yourself with the very specific plumbing tools and supplies you’ll need to ensure that everything continues to work properly.
Quality bathroom renovation is all about the perfect combination of form and function, after all.
Unsure of the specific tools, kinds of pipes, faucets, and plumbing fittings that you’ll need? If so, then click here to see the Trading Depot’s most popular plumbing supplies.
6. Embrace Digital Marketing
The most important thing to keep in mind when you’re in the process of starting your own bathroom renovation business?
You need to focus on creating an ongoing digital marketing strategy that both generates buzz about your services and establishes you as an authority in the renovation industry.
There’s no better way to do that than by starting a blog and getting active on social media.
First of all, businesses that have a blog have over 400% more indexed pages — AKA, internal website pages that can help influence your website’s search engine ranking — than those that don’t.
Plus, a blog allows you to interact directly with your readers and your target market. It also gives you the chance to both include keywords in your content and tells Google that you update your website more than your competitors do.
All of this will help you to end up on that coveted first page of search engine results.
When it comes to social media, research the most popular hashtags in your industry. Follow design and architecture blogs, and always get active in the comments section.
Finally, always make sure that you have plenty of listed once you start to build up a client list.
After all, more than 90% of shoppers say they read online reviews about a business before booking a consultation. If potential clients can’t find anything about your brand on third-party review sites and Google My Business, they’re going to move onto working with your competition.
Ready To Start Your Own Bathroom Renovation Business?
We hope that this post has helped you to better understand exactly what it takes to get your bathroom renovation business off the ground.
Remember, in addition to crafting the perfect business plan and clearly defining your target market?
You’ll also need to think about the supplies you’ll need, the licensing and registration you’ll require, and your long and short-term digital marketing strategies.
We understand that there are a lot of moving parts — and we want to help make everything easier.
Spend some time on our website to access the most important business forms that you’ll need to register your business,, and much more.
Then, be sure to keep reading our blog to get invaluable tips on how to brand and grow your bathroom renovation business. We can’t wait to see what you do next.
