The home improvement and renovation industry are booming. According to the Joint Center for Housing Studies of Harvard University, spending on renovations and repairs is expected to hit $340 billion by 2022. And with more and more homeowners taking on DIY projects, there’s ample opportunity for businesses that cater to the do-it-yourself crowd. With the right approach, you can tap into an ever-expanding sector and create something extraordinary.
One of the best things about this industry is that there are so many unique business ideas that you can explore. Here are unique business ideas for those looking to break into the DIY home renovation industry.
Home improvement stores are convenient, but they’re not always close by—lugging heavy tools and materials around can be a pain. A mobile workshop brings the store to the customer, making it easy and convenient for them to get started on their next project. All you need is a van or a small trailer stocked with supplies, and you’re good to go.
However, since your business will be based out of a van or trailer, you’ll need to ensure that you’re organized and efficient. Consider partnering with local stores to keep your stock replenished, and you’ll also need to develop a reliable system for tracking orders.
On the other hand, a mobile workshop can come with some advantages. Since you’ll be able to bring the store to your customer, you’ll be able to provide more personalized service. And by focusing on a specific mission—to provide convenience and ease to the DIYer—you’ll be able to build loyalty among your customers.
Many people who tackle DIY projects have little experience, which is where you come in. Offer on-demand consultations to help amateurs plan and execute their projects. This could take the form of an online service, where customers can send photos and descriptions of their project, or in-person consultations if you’re based in a specific city or region.
Unlike other businesses, this type of service will require more knowledge and expertise. You’ll need to be up-to-date on the latest trends in home improvement, and you’ll also need to have a good understanding of materials, tools, and safety protocols.
But by offering personalized advice and guidance, you’ll be able to develop a loyal customer base and help them bring their projects to life.
Not everyone has the time or inclination to take on a big project—but that doesn’t mean they don’t want their home to look nice. That’s where turnkey solutions come in.
Offer thoroughly planned and executed home makeovers with before-and-after photos so potential customers can see your work. This business model is perfect for those with a knack for design and an eye for detail. You’ll need to be able to source materials and manage contractors, but if you have the skillset, you can make a name for yourself in no time.
Many people will opt for turnkey solutions because they need more time, energy, or expertise to take on a project themselves. And if you’re offering a comprehensive package, you can charge a premium price—which will help your business thrive.
More and more people are interested in eco-friendly home options—but it can be tough to sort through all the greenwashing out there.
Position yourself as an expert in green renovations, and help your clients make their homes more energy efficient and sustainable. This could involve anything from distributing energy-efficient lightbulbs to providing solar panel installation.
This type of business will require research and a good understanding of green technologies, but if you’re passionate about sustainability, it can be a great way to make money while making the world a better place.
Rental Equipment Protection
Business-to-business (B2B) services are a great way to make money in the home improvement industry. One example is offering rental equipment protection solutions for lease businesses.
Contractors often rent heavy-duty equipment for their projects, but that rental equipment can be expensive to repair or replace if it’s damaged. By offering protection, you can give rental business owners peace of mind and help them avoid costly repairs or replacements.
This type of business requires a good understanding of the equipment and the ability to provide reliable customer service. And suppose you can offer competitive rates and swift resolution times. In that case, you’ll be able to build a loyal customer base in no time.
All around the country, people are diving into home improvement projects, large and small—and there’s a great opportunity for businesses that cater to this growing industry. If you’re thinking of starting a business in the DIY home renovation space, consider one of these four unique business ideas. With creativity and elbow grease, you can be well on your way to success.