Fresh New Small Business Ideas…..

Independent from the housing industry, remodeling is a business that provides the necessary facelift to old homes to make them more sellable. Costing lower than building a new house, the business of a re-modeling contractor also operates on full steam even when the housing market is down. Therefore, if upgradations and customizations are your cuppa and if you have a way with your tools, this business is perhaps for you.

Remodeling, as a business, primarily belongs to self-employed individuals who come as a big aid to most of the homeowners who aren’t typically the do-it-yourself types; this is one point where the professionals cash-in. The field also unleashes a number of areas to specialize upon. Ranging from doing-up apartment houses and modifying buildings from one type to another, and reconstructing historic structures. Therefore, it is considered important to fix the field in prior where a re-modeling contractor would like to lay his hands on. Home remodeling has yet another facet to it; it is called green remodeling that gained prominence for being energy-efficient and encourages the usage of nontoxic building materials and recycled building components.

The remodeling industry centers around the National Association of the Remodeling Industry; it happens to be the principal trade association for the remodeling industry nationwide. It is a must to avail four different types of certification if a person wants to take up remodeling as a career. And one more thing; customer satisfaction is considered the blood of the industry, since home remodeling industry largely depends on satisfied clients who serve as a very big source for referrals.

Success in the field largely depends on one’s hands-on capability to accomplish the assigned job; one should also learn the procedure for ordering materials, setting schedules and meeting the housing codes. Licenses are a must and one should get them first from the National Association of the Remodeling Industry and also the local work permit from the state’s licensing bureau.

Basic Requirements:

· Licenses and work permits.
· Formal training in case there’s no first hand experience on the job.
· Contacts with lumberyards, building material manufacturers, distributors and other retail suppliers.
· Referral relationships with home inspectors, local lenders, insurance professionals and architects.
· Enrolling with The Blue Book of Building and Construction, or a similar regional construction directory.

Investment and Returns:

Home remodeling, being a business that accounts for about 40% of all residential construction spending occupies a total of 2% of the US Economy; in 2005, the business fetched a total of $150 billion nationwide. So how much is exactly required to be a part of the entire show? Especially when one can expect a return of 80% to 90% within the first year or two, and the quiet power of compounding is on play?

A liquid capital of $9500 to $10,000 would take care of all the licenses, initial inventory, tools and a few overheads (optional) for the first job.