As we all know about the real estate business and how big the industry is and it’s only growing. But one thing which is also growing with a real estate business is the Home Staging business. In this article, we are going to talk about what is a home staging business and how you can start one.
- 1 What is a home staging business?
- 2 Plan your business:
- 3 1. Know the operational cost for the business
- 4 2. Consider the ongoing cost for the business
- 5 3. Who is your target customer?
- 6 Do a local housing market research:
- 7 Name and license your business:
- 8 Create a pricing structure:
- 9 Come up with a contract:
- 10 Liability insurance
- 11 Connect with local area realtors:
- 12 Buy discounted home decor items:
- 13 Look for cheap furniture rental offers:
- 14 Find a storage space:
- 15 Come up with a marketing strategy:
- 16 Create a portfolio for the houses you have staged:
- 17 Gather design inspiration:
- 18 Conclusion:
Also check- How to start babysitting business / How to start saree business
What is a home staging business?
Home staging refers to making a house more appealing and preparing it for the real estate market. Home staging will bring more attention to potential buyers, which results in easy selling of the property and that too for more money.
There are many owners who want to sell their home or other property swiftly and for that, they take help from a home staging company. For staging a home, you would require to enhance the appeal of the house to make it more attractive. And for that people use attractive paintings, good lighting, art, greenery, carpets, etc.
You should know that almost every seller stage their home and property so you will a huge scope in the business and the best part would be it doesn’t require a huge investment. And there are huge opportunities for you to make a profit as well.
Now that you know what a home staging business is and you have made up your mind to open a home staging business, it’s time that you know a little more about the business and how you can open one. We have prepared a guide which can help you to understand how to start a home staging business.
Plan your business:
- This is the first step to plan any business and that’s where you should put your efforts in. When you start planning for your business you will have a clear idea about the requirements of the business and how will you pursue it. It will also eliminate the risk of making any irrational decision regarding your business and facing a loss. But planing your business isn’t an easy task either, you will have to take a thorough look for various aspects of a business and sort out your priorities and come up with resources.
These are the few steps by which you can start your own business.
1. Know the operational cost for the business
- Every business needs capital which varies from business to business. And we don’t need to tell you why it’s important to know the operational cost of your business. When you know how much money you will need to invest and where to invest, you can plan your investment resources as well.
- The cost of opening a home staging business will also depend on what kinda business you are opening. See there is a home staging business that only provides consultation to the potential owners. Meanwhile, if you are opening a full-time home staging business then you will need much more capital as you will have to fill the house with showhome quality furnishing and accessories and other stuff.
- There will be other expenses such as transport, labor costs, etc. You would also need a web designer as most of the business these days are digital and you would want to make an attractive website for your business.
2. Consider the ongoing cost for the business
- You should know the ongoing cost as well. This will help you understand how much it’s gonna cost to keep your business going. Ongoing cost includes the costs for advertisements, rent, and other utilities that you are going to use.
3. Who is your target customer?
- It’s really important to know who is your target customer. See home staging companies are either approached by the homeowners or the real estate. Homeowners will likely hire a less experienced home staging business while real estate agents would prefer the experienced one!
Do a local housing market research:
- It’s important that you know the needs of the customers and able to provide the service which they are looking for. You can only understand the needs of your potential customers by taking up research. See if your target is the rich class then you might wanna invest a little bit more in the equipment and other stuff to fill the house. Whereas if your targeted customers are from moderate class then you would have to provide your service at cheaper rates. Doing research will also help you to understand the trends and what are new and appealing architectural styles.
Name and license your business:
- The next step would be naming your business. You should know that you have to come up with a good name that appeals to the customers and sounds powerful enough for the kinda business you are doing. After you have come up with a name for your business you should register your company and get a license for your home staging business. It would help you to run your business smoothly and get the necessary permits!
Create a pricing structure:
- It’s all about the price, after all, so you will have to come up with a pricing structure that includes all your operational costs, as well as the price, should be reasonable according to your target market. Above all the price should be profitable as well.
Come up with a contract:
- It’s important to build up a contract because it’s the only way you can make your business work. It’s important that your customers are aware of your policies and they should have the complete knowledge to make the contract work.
- It’s important that you have coverage in case you break or damage something at your client’s house. This will prevent you from paying a huge amount of bills or being in a legal dispute. And insurance is key for any business which can prevent the business owner from any losses.
Connect with local area realtors:
- You don’t wanna lose potential customers just because they don’t know about you or they don’t have any access to you. And that’s where you will need support from the Local Area Realtor because they are the ones who can introduce you to the home sellers and so that you can find a customer as well. And they can know about your business and make use of it.
Buy discounted home decor items:
- Since it gonna be a big part of the business you don’t wanna invest in overpriced home decor. So it would be beneficial if you buy home decor items at a discounted price. You can easily connect with home decor suppliers and buy the discounted home decor items from them. You can also check some local auctions and check out the sales of home decor items quite often.
Look for cheap furniture rental offers:
- Furniture is also crucial for your business and here too you will need to do a price check. You can see if there are any local furniture shop which can rent the furniture at a cheap price. Although you might wanna buy some furniture pieces yourself there are gonna be some big houses where you would need a bigger piece of furniture.
Find a storage space:
- It’s recommended that you invest in a storage space because sooner or later you are going to need one to store all kinds of equipment, decors, or any other furniture items as well.
Come up with a marketing strategy:
- Your profit margin, your brand value, and even the client’s everything depends on the marketing strategy you use. That’s why it is a crucial part of your Home Staging Business. People should know about your business and it then your business will be a successful one. And for that, you have to expand your business reach and let more and more people know about your business.
- See one of the best platforms for any business nowadays is social media and on the internet, so you can even hire someone to handle the marketing if you are unable to do that. Of course, there are other means of advertising your business that depends on your targeted audience.
Create a portfolio for the houses you have staged:
- That’s another way of marketing or advertising so make a portfolio for the house you have staged so you can show your clients what you can do and what are your capabilities. It can make a big difference.
Gather design inspiration:
- Your designs are what will sell you so they have to be on point. You can actually take inspiration from various sources and use it for you to staging the homes.
Here we have completed our guide for how to start a home staging business. Some people might find it overwhelming to start their own business but if you have the right abilities and you are determined enough to handle the responsibilities of a business then you should definitely start your own home staging business.
Thank you for visiting our web-page and you can also check out our other related articles.