Home improvement business revolves around renovating and improving the home of clients. The home improvement business owners put in much effort to enhance or remodel the interior or exterior of homes to match the taste of the owners. If you want to earn a living by upgrading and improving people’s homes, then a home improvement business is for you.
The first step to gauging your suitability for the task of owning a home improvement business is by engaging in some self-evaluation or assessment. For instance, you have to analyse your skill, interest and competency.
The following question will serve as a guide:
- Do you have experience in the construction and building industry or trade?
- Do you have a passion for fixing, making repairs or refurbishing properties?
- Do you enjoy working in a building project, long-term or short-term?
- Are you a team player, and do you prefer working in collaboration?
If you answer YES to any of the questions above, then you will enjoy a rewarding career as a home improvement entrepreneur. A prerequisite for owning a business in most states in the country is by registering with the government and licensing with the relevant authorities. You also have to get insured and protected to safeguard you, your business and your clients against any eventuality.
At this stage of your business planning, you are seeking a lucrative home improvement business type that you can startup. ‘Lucrativeness’ which is synonymous to profitability, might mean either high demand or high service charge. The unifying factor is profit-making and income-generation, which is the aim of starting the business.
So let’s explore the type of home improvement business you can start.
Deck building business
Financial analysts have predicted resounding growth in the demand for decking. It was pointed out that the demand for decking in the coming years might reach more than 7 billion dollars. This shows the feverish need for decks by homeowners who want to upgrade their already-owned deck or build a new one.
Deck building business deals with building outdoor decks and patios for home and commercial use. The popular types of decking materials are composite decking materials, wood decking, vinyl decking, redwood decking, pressure-treated decking amongst others.
Floor installation business
Floor installation business is an indispensable part of the real estate industry. As the housing market is steadily booming, the demand for flooring services is higher. Businesses, homes, stores are in need of new beautiful floors. Hence, floor installation is a major type of home improvement business, especially if you are passionate about making floors.
This type of home improvement business is concerned with the surveying, cutting and installing the various flooring in homes, offices and businesses. There are lots of flooring types, like timber, vinyl, cork, bamboo, porcelain and marble. Floor installers advise and recommend new flooring types to house owners. As a floor installation business owner, you can work with construction companies as a contractor or go ‘indie’.
Landscape architecture business
Landscape architecture business majorly deals with designing the landscape of homes and commercial properties. Though, some landscape business owners provide installation services as well.
The business is centrally involved in designing and planning of a lawn, analysing where flower-beds, decks, walkways and ponds will be best situated. The aim of landscape architecture is boosting property value. The business is centred on curb appeal and outdoor beautification.
Painting is an excellent way of improving the aesthetics of homes and commercial properties. Homeowners frequently seek the service of professional painters to handle their interior and exterior painting needs. As it is too labour intensive and tedious for most, a perfect paint job will need a lot of practice and accuracy. If you have a passion for painting, we suggest you go for it because it is a very lucrative home improvement business.
A great advantage of painting business is that it does not need huge startup capital. A sole entrepreneur can thrive exceedingly in this niche. The business does not also require any high level certification or licensing.
Interior decoration business
Interior decoration business is highly lucrative. The services of interior decorators are always in demand. The entire interior decoration industry earned a revenue of more than 12 billion dollars in 2020 alone.
For you to succeed as an interior decorator, you must enjoy using colours and lighting, arranging furniture and textures in a bid to produce a distinct effect for a particular purpose. It is an exciting career nonetheless. You should understand buildings and architectural minutiae. For instance, professional interior decorators know where a bookshelf or window seats would fit appropriately in a holiday home.
In summary, the business requires creativity, intuition and visual imaginativeness.