Fixer Upper Business: What’s It Like to Start One?

If you’re passionate about home remodeling and dream of owning your own fixer-upper business, you’re in for an exciting and potentially profitable journey. The Grand View Research firm reports the home remodeling market in the U.S. reached $512.01 billion in 2022 and is forecast to grow at a compound annual growth rate of 4.4% from 2023 to 2030. With a market poised for growth, fixing up homes can prove to be a lucrative business for people with the drive and the know-how to run such a business. Here, we’ll look at what it takes to start and run a remodeling business.

Essential Skills and Knowledge for a Fixer-Upper Business

To succeed in the world of home remodeling, you’ll need a diverse set of skills and knowledge, including the following:

• A deep understanding of various home improvement projects, from plumbing and electrical work to carpentry and painting, is essential. Continuously upgrading your skills in these areas is crucial.
• Effective project management ensures that remodeling projects stay on track, within budget, and meet quality standards. Learn how to plan, execute, and monitor projects efficiently.
• Exceptional customer service skills are vital for building trust with clients. You’ll need to communicate clearly, listen to their needs, and address any concerns promptly.
• Running a successful remodeling business requires strong business acumen. This includes financial management, marketing, and strategic planning.
• Familiarize yourself with local building codes and regulations to ensure your projects comply with all legal requirements.

Opening a Fixer-Upper Business

Starting your own remodeling business involves several critical steps:

1. Before launching your business, consider working as a subcontractor for an established remodeling company. This experience will provide valuable insights and contacts in the industry.
2. Develop a detailed business plan outlining your goals, budget, advertising, and marketing strategies. A well-thought-out plan is essential for securing financing and guiding your business.
3. Decide on the area of home remodeling you want to focus on. Whether it’s kitchen renovations, bathroom makeovers, or home exterior facelifts, specializing can help you stand out.
4. Depending on your location and the nature of your projects, you may need licenses and certifications. Ensure you meet all legal requirements before taking on clients.
5. Establish relationships with trusted suppliers for building and remodeling materials. Reliable suppliers are essential for timely and cost-effective projects.

Regular Duties and Responsibilities

Your responsibilities as a home remodeler will be diverse. Regularly visit work sites to monitor progress, ensure quality standards, and troubleshoot any challenges that arise. Employee management is also one of your responsibilities, vetting and hiring qualified employees who fit well with your business’s culture. Effective team management is crucial for a smooth operation.

As the business owner, it’s your job to find clients. You’ll need to actively pursue job leads and new clients to keep your business thriving. Networking, referrals, and marketing efforts are key in generating leads. Once you get these clients, you’ll work closely with them to understand their remodeling goals and preferences. Discuss options, materials, and project timelines with your clients to ensure satisfaction.

Advantages of Operating a Wholesale Franchise

The home remodeling business requires you to do a lot of different jobs. It can mean long hours, long commutes to job sites, and juggling the differing needs of clients who may be difficult to work with. There are other business models within the remodeling industry to consider, however.

With ProSource Wholesale, you don’t have to tick certain boxes to own a franchise. Sure, a lot of our franchise owners have a background in home improvement, but it’s not a must-have. Operating a franchise, such as ProSource Wholesale, can provide several other advantages over the fixer-upper business model:

• You won’t need to worry about installing hardware or flooring products. This streamlines your operations and eliminates the need for specialized installation technicians.
• Wholesale franchises typically don’t require specialized certifications or licenses for product sales, making it easier to start and operate.
• You’ll market your products to a professional customer base. This flexibility allows you to cater to professional renovation and remodeling contractors, accommodating their unique scheduling needs.

Whether you choose to specialize in a specific area of home remodeling or explore the benefits of a wholesale franchise, there are numerous opportunities for success in this dynamic industry.

Build Your Business with ProSource Wholesale

We welcome the opportunity to offer you a place on the ProSource Wholesale team. We’re a wholesale flooring, kitchen, and bath franchise that provides you with flexibility beyond the average remodeling franchise. Our special business model caters to professional contractors, meaning you won’t need to take on the burden of product installation yourself. Our membership model and proprietary technology allow your clients to access your showroom when it’s convenient for you both, letting you schedule your business hours to meet everyone’s needs. Submit a form today to find out more about your franchising opportunity with ProSource Wholesale.