How To Start a Renovation Company

Team of painters

Starting a renovation company takes time, preparation and hard work. The first step is deciding a company name that will be easily remembered yet is not too common.  Never underestimate the importance of branding; you'll want customers to be able to remember you as they're searching the Yellow Pages!

The next step is to obtain a federal tax identification number through an accountant or company that specializes in this service.  They will search the company name to ensure that it is not already being used, set up the renovation company to pay quarterly or yearly taxes, and can also incorporate the renovation company.

The federal tax identification number is needed to open one or more business accounts at the bank for the renovation company.

Advertising is very important in starting a renovation company.  Business cards and flyers can be printed by the local printing company, office supply store, companies found on the internet, or by utilizing computer software to make your own.  Post business cards and flyers on bulletin boards in post offices, grocery stores, and hardware stores.  Newspaper and phone book ads and lettering the company name and phone number on the work truck or van are also excellent ways to advertise your new renovation company.

Proposals, invoices, letterhead, and envelopes for the renovation company can be printed by the local printing company, office supply store, companies found on the internet, or by utilizing computer software to make your own.

Many city and county projects require proof of business liability insurance and worker's compensation coverage.  It is also a good selling point to prospective customers.

Vital equipment includes an answering machine and fax machine.  The answering machine message should include the company name and phone number. Setting up a business email address and a website could also be helpful.

Keep a pen and paper near the phone.  When a customer calls, answer the phone using the name of the renovation company.  Obtain the customer's name, address, phone number, and detailed information about the work that needs to be performed.  Schedule an appointment and show up promptly and in presentable attire.  Be sure to mail, fax, email, or deliver the proposal as soon as possible.  Either give the customer a business card at the appointment or send it with the proposal.  Follow up with the customer approximately one week later to see if he would like to schedule the project.  Keeping a scrapbook of before and after pictures of projects also helps sell jobs.

Don't get discouraged while starting your renovation company.  All of the hard work will be worth the benefits down the road, and if you keep your education current by taking continuing education classes in business you'll be in great shape to take your company to the next level when it's time to expand..


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