How to Start a Small Business
How to Start a Floors & Flooring Installation, Refinishing & Resurfacing Business
It's official. You're going to become an entrepreneur and start a floors and flooring installation, refinishing and resurfacing business. Congratulations! This article can be a useful guide to getting started.
Thinking about opening a floors and flooring installation, refinishing and resurfacing business? We tell you what you need to know to get started.
Starting a floor covering business? Make sure you read this article!
Typical Offerings for New Flooring Service Providers
Flooring service providers have gained a new level of respect in the residential and commercial construction industries. Although carpeting continues to be a popular flooring option, more and more building constructions and remodels are opting for wood flooring, providing steady work for professional wood flooring installers and refinishers.
The key to a successful wood flooring business is to provide the right mix of products and services to your customers. The skill set that is required for wood flooring installation is nearly identical to the skill set that is required for refinishing and resurfacing, making it easy for wood flooring providers to accommodate new and existing floor owners.
Additionally, the extra effort that is required to sell the flooring directly to customers is minimal. By establishing a handful of good supplier relationships, you can sell both products and services to your customer base, and achieve maximum profitability for your startup.
Attracting & Retaining a Customer Base for Your Flooring Startup
Hardwood flooring is a specialized business activity and there are far too many inferior service providers in the marketplace. To attract and retain customers, you will need to equip your startup with features that communicate quality assurance and trust.
- Expertise. Expertise is often separates successful flooring providers from the rest of the field. Organizations like the National Wood Floor Association offer certification and training, not to mention an assurance that your startup is a responsible industry participant. Although engagement at the industry level won't automatically deliver the trust of potential clients, it goes a long way toward establishing a foundation of trust.
- Virtual Portfolio. Seeing is believing when it comes to wood flooring projects. Today's customers demand sophisticated installations and refinishing projects that include inlays, medallions and other advanced features. Since most consumers access service providers via the Internet, a portfolio of completed projects on your business website can give your startup an edge in attracting new customers.
- Hiring. You can do everything else right and still fail as a wood flooring business owner if you fall down in the area of hiring. The problem is that there is an ample supply of people on the job market who claim to have hardwood flooring experience, but lack the skills to perform at a high level. So what's the lesson? Don't take any job applicant's word when it comes to experience. Verify references and ask to speak directly with former employers or customers.
How to Write a Simple Floors & Flooring Installation, Refinishing & Resurfacing Company Business Plan
Haven't created a business plan for your floors and flooring installation, refinishing and resurfacing business yet? You could be in big trouble.
At Gaebler, we advise new business owners to keep your business plan simple. Even though there are certain issues your plan needs to address, business plans are fluid documents that are intended to adapt alongside your floors and flooring installation, refinishing and resurfacing business.
If your time is limiting, outline the essentials of your floors and flooring installation, refinishing and resurfacing company's business plan now and make a commitment to come back to it later.
Prior to opening a floors and flooring installation, refinishing and resurfacing business within your community, it's a smart move to see how strong the competition is. Try our link below to find competitors in your area. After following the link, enter your city, state and zip code to get a list of floors and flooring installation, refinishing and resurfacing businesses in your area.
Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.
Learn from Others Who Are Already In This Space
Once you've finished assessing the competion, the next step is to speak with somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. What's in it for them?
On the other hand, an individual who has a floors and flooring installation, refinishing and resurfacing business in another town may be willing to share their entrepreneurial wisdom with you, after they realize you reside far away from them and won't be stealing their local customers. Many business owners are happy to give advice to new entrepreneurs. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
How would you find a floors and flooring installation, refinishing and resurfacing business entrepreneur in another community?
Simple. Let your fingers do the walking by using the link below.
Advantages of Buying an Established Floors & Flooring Installation, Refinishing & Resurfacing Business
We know . . . From the time you were a kid you dreamed about starting a business from scratch and growing it to a position of market dominance.
However, a business purchase is nearly always the smarter ownership option.
Existing floors and flooring installation, refinishing and resurfacing businesses are proven operations with dependable revenue streams. And that's not to mention the fact that a purchase let's you avoid the trial-and-error mistakes that are common in startups.
Is Franchising the Right Option?
A new business startup presents a number of challenges, not the least of which is the creation of policies, procedures and workplace routines. By tapping into a franchise, startup entrepreneurs eliminate the guesswork and gain the advantage of established business processes.
With many floors and flooring installation, refinishing and resurfacing business franchise opportunities to choose from, we recommend visiting our flooring franchise directory to determine which franchisors are consistent with your vision and goals for your startup.
More Advice for Startups
These additional resources regarding getting started as an entrepreneur may be of interest to you.
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Additional Resources for Entrepreneurs