Dustin, a successful businessman who owns a small company Home Mender, will tell us how to start a profitable home repair business. He will share the drawbacks and tips of such a business. Don’t be afraid to build your own small business and make money doing what you like.
Hello, this is Dustin with Home Mender and today we're gonna be learning how to start a home repair business. We get a lot of guys who find the channel, learning how to do something, or a job that they have to do. They ask me, how did I get into the business. So I'm gonna show you how. Let's get to it.
1. Passion. One is the most important – that's why it's number one. You have to have a passion for the work. If you're faking it, if you don't really like your job, people can tell, and when you're an entrepreneur, you’ve got to have some passion. Otherwise that's not gonna work. A lot of people start a business because they don't want to work for someone else. Now, although that's a huge perk of owning your own business, that's not a good reason to start one. In the tough times of that business, that's not gonna sustain you – you've got to have the passion.
2. Pick a trade. Decide what kind of service that you want to offer. Whether it's gutter cleaning or pressure washing or painting, pick a trade and go with it. If you want to do a home repair thing and advertise multiple things, make sure people know what you can do and don't put things on there that you can't do. You may be expected to.
3. Name it. Very important – decide on a good name. It's gotta be catchy, it's gotta be original, and don't use your own name: “JJ's Pressure Washing” doesn't scream “Hire me!”.
4. Business license. If you're gonna have a business, you have to get a business license. Now, this is just the basic license. It's typically 50 to a 100 dollars, depending on your area. It's basically a social security number for your business called a “EIN”. That way companies can pay you.
5. Catchy logo and tagline. Come up with a great logo and slogan. People love a slogan and this is really a good way for you to express your personality. “Clear Pipes Plumbing: Your crap is our bread and butter!” or “Happy Home Repair: We put a smile on your place!”. These are catchy and fun and it'll make people remember you.
6. Business cards. After you get the logo and the tagline, have business cards made up. This is your most powerful marketing tool. Start handing them out right away and use every opportunity.
7. Bank account. Open a business bank account, so you can start collecting those checks. And you may also want to get some kind of credit line to where you'll be doing shopping for material supplies. You definitely want to have some backup means of funding when you get those big jobs.
8. Contractor license. This is a real questionable one for business people contractors – get a contractor's license. If you're gonna be doing this kind of work, get a contractor's license. It allows you to make up to a certain amount. I think with a business license, you can either make $500 or $1,000 at any given time but with a contractor's license, you can make up to 8,000 10,000. It's gonna vary. The lowest-level contractor's license usually can be obtained in an eight-hour day by taking a class, no experience required, take the test, and there you are.
9. Insurance. Get liability insurance. This is good for your customers – it's a “feel good” feeling for your customers to know that you have insurance. Also if you want to work for companies like Remax or Long&Foster, they are gonna require that you have liability insurance. Definitely get it hooked up.
10. Creative Package. This is an inside tip, this worked for us, it worked amazingly well. Create a business package with a little bit about you: some photos of previous work, licensing, business, references… Create these packages and go take them around to real estate companies and property managers – they have a huge turnover rate because most repairmen are just awful. So, if you're good and you get in there, they're gonna continue to give you work – nothing beats face-to-face marketing. Make an appointment with their office, offer to bring them a package, bring them donuts, whatever you got to do to get in the door, and let them know: look, I'll work for you.
11. Make time for people. A big part of this business is making time for people. Countless people have told me, you know, you weren't the first person I called but you were the first one that answered the phone. You got to answer the phone, you've got to make time for people. People want to have good work done for them, and a good worker is hard to find.
12. Don't get discouraged. Finally, and this one is the most important: don't get discouraged. You can do this. Run a good business, be fair to people, and your business will grow.
So, that's it. Tips on how to start a business and get it rocking, how to start getting business.
