Starting a flooring business is something that a lot of people consider because of the benefit this can provide. If you are thinking of specialising in timber flooring, there are specific steps that you will need to take. These steps are generally the same for all flooring businesses, but certain considerations need to be made with timber flooring.

Create A Business Plan

The first step to starting your business is to create a business plan. This is vital if you need to get funding for your business. It will also work as a roadmap for your company that you can refer to at any point.

You will need to do some research while you create your business plan because of the information that it must contain. The plan will have to provide a description of your business as well as an overview of your industry and the competition you face. As a business specialising in timber flooring, your competition will need to be other specialists as well as general flooring businesses.

The plan also needs to include operations and management plan, descriptions of the flooring services and types of timber you will provide and a marketing strategy. You also need to have financial projections where you determine the potential profitability of the business. This will give you a comprehensive overview of your business and a plan that you can keep to.

Price Your Services

Timber flooring is the most expensive flooring on the market, and you need to consider this when you set your prices. Your suppliers set the cost of the timber and it is the labour cost that you need to focus on. When you do this, you have to consider your competition and price yourself competitively. This is particularly important when you start because you will not have the reputation and experience to justify higher than average costs.

Remember that homeowners are going to be shopping around and comparing costs. When comparing your costs to competitors, you should look at other timber flooring businesses. Timber flooring is more expensive to buy and to install which means that the costs for a general flooring business will not be comparable.

Get Your Paperwork In Order

Once you have your business plan and have set your prices, you need to get all of your paperwork in order. You will need to have a license to operate your business, and the city council can provide the exact licensing requirements. You may also want to get accredited by certain timber flooring manufacturers. This will set you apart from your competition and could net you more business.

You will also need to get your insurance in place. There are a few types of insurance that you should have, including liability insurance and worker’s compensation insurance. Personal accident insurance should also be considered as it will cover any accidents on-site.

Market Your Business

Marketing your business can be one of the hardest parts of starting out. One way to do this will be to join trade associations that help get your name out there. This will also be a good chance to network with others in your industry who hear about jobs before anyone else.

Setting up a website with any examples of your work is essential. Most people will start their search for a flooring contractor online, and a website will make it easier for them to find you. Once you have your website up, you should also link it to trade directors and other online business directories.

Traditional promotional materials are also an option such as flyers and brochures. You can distribute them around your local area to get more local work. Of course, you will need to ensure that they send the right message about your business and the service you provide.

There are many steps that you need to complete if you want to start a timber flooring business. Researching the viability of the company in your area is important and should be the basis of your business plan. You also need to consider your marketing and finances before you start pricing your services. Marketing your business should only be done once you have all your paperwork in place, and are sure that this is the right business for you.