Starting a Renovation Business
: Nowadays, the services of renovation businesses have been in high demands. From small scale commercial complexes, and apartments to private residences, there have always been buildings that are in need of renovation and repair.
Bear in mind that if you are planning to start your own renovation business, you must not forget that this particular type of business is only lucrative if there is a well developed and specific business plan which is being followed.
Acquire the Essential Tools
In this moderately challenging business, the primary tools that you are definitely must have are construction tools, computer, fax, printer, and most importantly, a cargo van or more favorably a pickup truck. You must acquire all this tools before you can start your business. Additionally, you must buy a number of different tools which are designed to have hand-help power such as circular saw, jig saw, reciprocating saw, screw gun, router, as well as a cordless drill that must have extra batteries.
Furthermore, you must also obtain numerous stationary tools that are larger which can be transferred by a trailer such as miter saw, table saw, sanders, potable plainer, band saw, and tile or wet saw as well. Have the necessary set of equipment coupled with tools which are non-power. Examples of this kind of tools are hammers, miter box, hand saws, screw drivers, ladders of different heights, chisels, and different wrenches. Another equipment hat is necessary in this particular business is a pull trailer that will carry your other equipment. The most recommended in this case is a pull trailer which is enclosed.
Where to Buy?
You can buy your supplies from a Home Depot. A tax identification number (TIN) and a business name is needed in this particular situation. It will serve as your qualifying key to have wholesale prices on the materials that you need to purchase. This will not be much if a hassle to you since most of the companies providing these materials is located in only one building. But if you are saving money and you want discounts, you might want to try visiting material wholesalers as well as lumber yards. In this case, you will also need to use tax identification number in order for you to purchase tools and buy equipment in wholesale rates through a contractor superstore.
Acquire a Contractor Binding
It is important for you to acquire a contractor bonding for the benefit of your business. This is generally known as liability insurance which will protect your business against any financial loss. You must also have a construction bonding that will be for your renovation services. A bond for roofing business which you will do is also a great help, so obtain also this one. You might as well consider purchasing compensation insurance for workers that you are planning to employ. And by the benefits of independent subcontractors, you can easily avoid this.
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