How to Start a Home Improvement Carpentry Business

Some people are just naturally gifted at working with wood. They can design and build literally anything you ask of them. Whether you have studied under a master craftsman or are just naturally talented, you are thinking about starting your very own home improvement carpentry business. Many carpenters start by working in the field for builders and that is a great place to learn all the ins and outs of the business.

However, you don’t really want to be a subcontractor. You want to do home improvement carpentry work because you love renovations and making something spectacular from a room that was just ordinary. However, when going into business for yourself, there are some things you should understand.

Funding Your Business Is Going to Be at the Top of Your List

Without going into the details about how you would go about getting all the licenses and certifications you’ll need to start a home improvement carpentry business, the one thing you should plan for from the very beginning is funding your new company. Bear in mind that some of the tools of the trade will be a bit costly and you will certainly want state-of-the-art equipment such as an industrial wood sander which you will certainly need.

You will need a place to operate from and you will need to finance everything necessary for your office as well as your workshop. Bear in mind that when you worked as a carpenter for that contractor, you had use of their industrial grade equipment which you will now need to purchase for your own company.

You Must Have a Solid Business Plan

This brings us to the point of how you will get funding for your new company. One of the main reasons why you would need a well-written and thoroughly thought out business plan is because that’s what a lender will want to see. They will want to know that your startup has the potential to make enough money to continue operating while having the resources to repay the small business loan you are seeking.

However, for the success of your company, whether or not you need financial assistance, you will need a rock-solid business plan. Think of this as your roadmap to success. If you’ve never had to write a business plan before, you can find step-by-step instructions online to guide you through the process. This is something which will take a good deal of time, so make sure you allocate that time before setting the wheels in motion to find funding or launch your startup. Without a roadmap, how will you know where you are going?

Permits, Licenses, Tax IDs and Insurance – All the ‘Fun’ Stuff

Also, don’t think that you can just start handing out business cards and that’s all there is too it. You will need several kinds of licenses and occupational permits as well as tax IDs for Uncle Sam and various kinds of business insurance. These are all things many new startups fail to plan for and without getting all the proper approval, you could be held up indefinitely. One thing you may want to do is consult with a business advisor who can walk you through all the steps you need to follow when setting up your business. From deciding which type of business entity that you wish to start, to writing your articles of incorporation, to finding efficient and cost effective ways of operating a business, an advisor may be your very best friend in the beginning. Do it right from the start and everything else will fall into place nicely.