Now that you’ve decided to start your new restoration business as a full-service provider (see How Much Money Does a Restoration Company Startup Make?), including both mitigation and rebuild services, what more needs to be done?
You need equipment. Plan on financing or leasing $20,000 of equipment. This is enough to do two water jobs simultaneously. You will soon need more equipment, but you will pay for that out of profit rather than as a capital investment. Most contractors finance the initial cost and pay it off in the first year of operation.
You need a service vehicle. A used cargo van, truck and trailer, box truck, cube van, or transit van are each good options. You will pay around $20,000 for a good low mileage used vehicle.
You will hire a mitigation technician. I call this first hire a “homerun hitter” because it needs to be someone certified, experienced, and who requires minimal supervision. You will likely pay a few dollars more per hour for this person than your next hire, but it will be worth it. As an owner new to the industry, you have limited mitigation knowledge, so you need someone who knows what to do and how.
While your technician focuses on mitigation work, you will focus your time and attention on managing the growing number of rebuild jobs. Remember – you manage the job and subcontract all the labor.
If you are looking for help, I have samp[le technician ads and interview questions and specific equipment lists consisting of quantities, model numbers, sources, and costs.
Below are the postings of the How to Start a Restoration Company Series. I hope together they will answer most of the critical questions you have. Afterward – give me a call, and let’s talk about how to put it all together! Click on the title to view.
- How to Start a Restoration Business Series
- Is the Restoration Industry Recession-Proof?
- What Services Should a Startup Restoration Company Provide?
- How Much Money Can a Restoration Company Startup Make?
- Should a Restoration Company Startup Begin as a Mitigation-Only or Full-Service Company?
- How to Organize a Restoration Company Startup
- Restoration Company Startups Need Training & Certifications
- Restoration Company Startups Need Equipment & Personnel
For more information or help to start your restoration business contact me at https://www.growmyrestorationbusiness.com/contact-us