How to Become a Home Improvement Contractor
A home improvement contractor’s basic task is to remodel or renovate houses by making certain additions. In order to start your own business, it is essential to have certain skills in general home repairs, along with the basic knowledge of the business end of your core job. In order for a home improvement business to flourish, one will need to make extra effort to market his or her business in the community and ensure that quality service is being provided to the customers.
Get formal education and experience
Try pursuing education in the relevant field by enrolling for a certified degree in residential construction. This will clearly enhance your knowledge and expertise in the area, where you will be able to create a network of people with the same credentials. Moreover having covered the basics of accounting, finance, marketing and entrepreneurship will greatly develop your understanding when you apply your knowledge in the practical world.
While education is the stepping stone, obtaining relevant experience is another crucial aspect. Rather than starting your own business from the outset, it is preferable that you work with a reputable home improvement agency to clearly understand the pros and cons of the field. Accumulating experience for a few years will equip you with the necessary knowledge.
Incorporate your business
Having performed the necessary pre-requisites from education to experience, the process of incorporating your business should be a straight forward one. Review your state laws before filling the articles of incorporation. You may need to pay an upfront fee before you will be entitled to form a limited liability company. The advantage of a LLC is clear where you are able to protect your personal assets during a legal process. Moreover, there are certain tax exemptions on offer for most LLCs.
Obtaining a home improvement license will be your next step. Depending on your area of expertise, you will need to be licensed to carry out particular home improvement contracts. For smaller jobs, this may not be required or for those special works for which you will need to hire a specialist. The license will be issued by the state and will only be offered after you have passed an exam. In most cases, you will also need insurance in order to safeguard your company’s interest in case of damage etc.
Start you business
Gather clients and start delivering the necessary services. It is important that you have an employment agreement signed where you will be entitled to receive money after the completion of the work.