Starting a water damage restoration business can be an appealing endeavor for any hungry entrepreneur looking to make a hefty chunk of change. The water, fire, and mold restoration industry is big, and the profit margins are even bigger! This makes it a very appealing business to start up. Before you go diving in though, you will need some tips.
There are a few things you will need to start up your water damage restoration business, and a few things you will not need. Contrary to what you might think, you will not need a ton of equipment to start! You only need enough to take your average residential water extraction job and you should have a good starting point. On the other hand though, you will need to be able to sell people, and market your business.
First things first, you need to realize that the water damage restoration industry is different from many other business industries. People contact water damage restoration companies because of a need, not a want. This is not retail, you do not have to convince someone they need your service, you just need to convince them that you are the best company for the job. You can do so by developing an awesome reputation. The client will always come first, because a water damage disaster is something they will talk about regardless. You want to make sure when they are talking, your business is getting remarks about a job well done.
When first starting up, you will not need to spend a ton of money on advertising, but you will want to spend a ton of time befriending your local insurance agents. When someone is knee deep in water, they most likely won’t turn on the TV and hope to see your commercial, but will call their insurance agent instead. You want to make a good name for yourself and your company with local insurance agents if you want to stand a chance of developing your water damage restoration business.
To win the lions share of business in your local market, you are going to have to be a jack of all trades. Most restoration companies don’t just stop at water damage restoration, they also offer mold remediation, and fire/smoke damage restoration. While water damage restoration is a great starting point, you want to make sure you are able to compete in your local market.
The majority of businesses fail when it comes to management. If you hire anyone other than techs to do the work, you are going to be setting yourself up for failure. Before you go to any restoration site, make sure that you have a solid line of management in place. Like I mentioned before, you want to make sure that you company is providing a quality service, because most of your business is going to come from referral sources.
With these tips, you should be able to start realizing your dream of owning a water, fire and mold damage restoration company.