How to Successfully Build a Foundation Repair Company
Foundation repair is a complex trade, but it’s a rewarding career that supplies many crucial services to homeowners. From sagging floors to warped ceilings and cracked and crumbling foundations, foundation repair companies offer a wide range of services.
It’s also a business that you can launch on a shoestring budget. Overhead costs are generally low and you have the flexibility to work from home. There’s also ample room for growth.
While you will have regulatory and licensing hurdles to overcome, it’s possible to build and manage a successful foundation repair company.
Start with the Basics
Hopefully, you already have some experience in your field. You should have at least a few years of experience in foundation repair before even thinking about starting your own business.
Next, you’ll need to choose a name for your business and go through the registration process. You might consider using a lawyer or other legal service to register your business. This will ensure that the name you choose (or something very similar) isn’t already in use.
Once you’ve registered your business, you can obtain the required licensing. Consult with your local laws to find out more about how to obtain your license. Laws vary from state to state.
Next, you’ll need an office. A home office will work well for the time being.
Create a Plan
Every successful business starts with a plan. A business plan will give you direction and goals to achieve.
Your plan should include your:
- Mission statement
- Funding requirements
- Market analysis
- Sales strategies
- Financial projections
- Organizational management
A business plan will help bring your business to life and force you to think realistically about the viability and sustainability of your operation.
Invest in the Right Tools and Equipment
Foundation repair requires a variety of tools and equipment – some simple, and some advanced. Make sure that you have a complete list of all of the tools and machinery you’ll need to run your business.
You may need to secure funding for these items, so make sure that your list is as thorough as possible. Advanced machinery can be quite expensive, so you’ll need to make sure that you have the funds to get what you need.
Market Your Services
Marketing is essential to every company. Word-of-mouth marketing is absolutely essential in this industry.
When you first get started, most of your projects will probably come from your friends, family and neighbors. Provide a good experience, and your first customers are likely to recommend your services to others. This can get the ball rolling for securing more work and getting more recommendations.
In addition to word-of-mouth marketing, you also want to focus on:
- Building a website
- Social media marketing
- Online advertisements
- Distributing flyers
- Direct mail advertising
Marketing is just one piece of the puzzle when promoting your business. You also want to make sure that you’re soliciting reviews from customers. Customers are becoming increasingly reliant on reviews. In fact, 90% of customers read online reviews before visiting a business, and 88% of consumers trust online reviews as much as a personal recommendation.