Watch any home makeover show on television and you’ll see that the kitchen is typically the first room to be remodeled. Styles change, appliances break or become outdated, or people simply want a different configuration of cabinets and counter space. Regardless of their reasons, millions of American homeowners renovate their kitchens each year, and according to the 2022 Houzz Kitchen Trends Study, “the national median spending on kitchen remodels continues to climb for both major and minor remodels.” If you’ve been considering starting a remodeling business, you may be wondering what steps are involved and whether it’s easier to open your own company or to buy a franchise. Read on to learn how to start a kitchen remodeling business

Starting a Business from Scratch

When you begin a business from scratch, you must start with a clear plan. Are you going to cover all aspects of kitchen remodeling, or will you focus on a niche market, like cabinet and countertop installation? Who will do the actual work –do you have the experience necessary to do it yourself or will you hire others? Where will you locate your business, and is there enough demand for your products and services in that location to assure that you’ll have a steady stream of customers? What kind of competition will you have in the area? Once you’ve honed your plan, you have to begin the hard work of implementing it. The first step is to decide if your business should be a sole proprietorship, a limited liability company (LLC), a partnership, or a corporation. You may want to consult your accountant or an attorney for advice on which will best suit your needs. Next, you must write a detailed business plan so you can secure financing.This plan should include projected startup costs; recurring expenses; arrangements for acquiring equipment, an office, a showroom, and a storage facility; expected number of employees; and anticipated profits. To open a major kitchen remodeling business, you typically need $250,000 to $500,000.After you’ve gotten your financing lined up, it’s time to obtain all the necessary licenses, permits, and insurance. Every state has different requirements, and besides needing a business license, you may also need a contractor’s license or a professional license for doing electrical work or plumbing if you plan to offer those services. Most states will require you to carry workers’ compensation insurance if you have employees. Additionally, you must check with your city or county clerk’s office to see what local permits are needed. Some municipalities also require you to carry general liability insurance, and even if it isn’t required, many customers won’t work with a business that isn’t insured.Perhaps one of the most important steps in beginning your kitchen remodeling business is finding a way to source the materials you’ll need for your work. With the current supply chain issues, it’s more essential than ever to have good relationships with reliable suppliers.

Buying a Franchise

When you invest in a kitchen remodel franchise like Cabinet IQ, much of the hard work of starting a business will be simplified. For starters, we’ll do the market research to make sure your business is
locatedin a prime territory with plenty of customers and few competitors. We’ll even help you pick out the perfect site for your office and showroom. Plus, you don’t have to worry if you lack experience in the home improvement industrybecause Cabinet IQ will give youall the training necessaryand teach you how tostart a kitchen remodeling business.Yes, you’ll still have to write a business plan, but we’ll help you create one that’s feasible and based on our proven model. Some of the information you’re going to needincludesthe number of employees,the type of equipment,the size of your showroom,the licenses,permits, and insurance,etc. An initial investment of $143,350 to $223,300covers your expenses from pre-opening through your first three months of operation.When you buya Cabinet IQ franchise, you’ll gain access to all the support systems we’ve put in placefor our franchisees. Our brand is quickly becoming a household name in Texas, and we’ll help you cash in on that name recognition with our state-of-the-art marketing strategy and our proprietary customer relationship management system (CRM). We’ll also set you up with our proven accounting and financial systems and ourhassle-free IT support. Best of all, you’ll work directly with our fantastic suppliers and receive the reduced rates we’ve negotiated with them.

Get Startedwith Cabinet IQ

If you’re ready to learn how to start a kitchen remodeling business from one of thebest cabinet and countertop companies in the nation, contact us today .

Published On: April 11th, 2022 / Categories: Design, Technology / Tags: , /