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The home services industry is worth a whopping $506 billion, according to research by Angi. Even during the pandemic, when business closures were frequent in most industries, the home services industry stayed strong, as homeowners chose to focus on improving their properties either themselves or by hiring experts. For you to be successful in the home services industry, not only will you need to find the right idea, but market it well and provide customers with better service than competitors. In this article by Firewheel Power, we’ll explore a host of useful strategies you can use to start and run a profitable home services business.
Find The Right Business Idea
As with any business, your first step will be to hone in on the best idea that you’ll be able to sustain for the long term and make a profit doing so. Here are some popular home services business ideas:
- Landscaping: This will entail providing the gamut of landscaping and gardening services such as mowing lawns, planting shrubs, trees, and flowers, and helping homeowners keep their outdoor spaces clean and aesthetic.
- Home Organization: While everyone wants a clean home, some homeowners prefer to pay others to keep it clean and organized for them. As a home organizer, your responsibility will be to help clients declutter their homes and create an organization plan for their belongings.
- Handyman Services: The most popular category in this niche, handyman services can include plumbing, carpentry, welding, and a host of other services. If you’re interested in this idea, but lack the expertise and understanding to conduct repairs, consider enrolling in a trade school to earn a degree and hands-on experience.
Create A Sound Business Plan
A business plan serves as the founding document for your business, according to Info Entrepreneurs. It will include details on all the core components of your home services business such as:
- Customer Profile: Based on market research, you’ll create your ideal customer profile which explores the needs, wants, and expectations of clients you plan to cater to. With your customer profile in hand, you’ll be able to better craft your services and pricing strategy.
- Marketing Strategy: Having a sound marketing strategy is one of the keys to success for any business in 2023. Given that there is a plethora of promotional mediums (digital and traditional) to choose from, you’ll need to hone into the best medium(s) to use based on budget, customer profile, and short/long-term goals.
- Competitor Analysis: Given the sheer size of the home services industry, it’s not surprising that it is competitive. Before you start reaching out to clients, you’ll need to understand your competitor’s advantages and weaknesses, use it to develop your unique selling proposition (USP), and differentiate yourself from the rest.
Leverage The Power of Networking
Building and nurturing relationships with potential clients, and industry professionals and gaining referrals can significantly improve your chances of organically landing clients and building long-term business relationships.
In addition to reaching out to your personal networking for referrals, consider attending local networking events. These gatherings serve as excellent opportunities to meet like-minded professionals, gain insights from professionals and learn what it takes to be successful in the home services niche.
Invest in Business Cards
Business cards serve as a tangible representation of your brand and help you stand out from the rest in today’s digital-first world. Sharing personalized business cards with prospects increases the chances of recalling and securing their business. Even if you have never designed business cards before, give this a try. A free online business card generator can help you create a card quickly and professionally. Remember to keep the design clean and clearly mention your business name and content information.
By finding the right business idea, creating a comprehensive business plan, and investing in business cards, you can set yourself up for success in the thriving home services industry. Additionally, leveraging the power of networking will help you grow the business organically, make important professional connections and help sustain yourself for the long term.