Starting an appliance repair business from home can give you lots of opportunities to earn money. Besides, you will be helping homeowners in your neighborhood by repairing and bringing back to life their broken appliances.
The good thing is, it’s not a big deal to access the training, certification, and licensing to start an appliance repair business from home. You only need to check with your local authorities to know how you can get these documents. Moreover, it’s recommended that you check with your local municipality or state to understand the requirements of starting an appliance business from home.
However, if you aim to handle appliances that contain refrigerants like refrigerators, freezers, and air conditioners, you must get an EPA certification.
How much does it cost to start an appliance repair business from home?
Just like all other businesses, the cost of starting an appliance repair business from home will depend on your target business model. While your home might be your base of operations, you will need to move from home to home whenever required to repair appliances. That means you will need a truck to hold the supplies and tools required for the job and facilitate your movement.
Also, there are times when you have to transport appliances from your clients to your home for further diagnostics. This is where the need for a truck also comes in. With that said, you should expect to spend around $1,000 on the lower side to start an appliance repair business. However, the costs can go up to $5,000, especially if you plan to lease or purchase a vehicle.
Common costs for starting an appliance repair business include:
- Diagnostic tools
- Inventory of repair parts
- Repair equipment
- Vehicle
- Storage organizers for your supplies
What else do you need to start an appliance repair business?
Create a business plan
Once you have the idea to start an appliance repair business, you need to write that idea. Typically, this is in the form of a business plan. A business plan is an essential document, which acts as a guideline for your business. It’s what determines your business structure, financing options, operational structure, and marketing plan. Moreover, a business plan is the backbone of a successful business.
Create a business entity
You will need to create a business entity to show how your business will be operating. As advised by llcratings.com typically, there are four types of business entities, including:
- Sole proprietorship
- Corporation
- Partnership
- Limited Liability Company (LLC)
Each of these entities has its benefits and drawbacks like costs, liability exposure, and administrative costs. Therefore, take your time to research them before choosing the appropriate one.
Source financing
Yes, you might have one of the best business ideas and the relevant skills to operate the business. However, getting the required funding to start the company is another thing. Even though the costs required to create an appliance repair business from home might be low, getting the necessary financing can be challenging.
First, you need to have saved 15-30% of the total costs. Then, you must have a good credit score if you want to get a loan to finance the startup.
Create a workstation
Although you will be doing most appliance repair jobs on-site, running an appliance repair business from home, you will still find a dedicated office space. You will need to remain organized to book clients, respond to emails, receive calls, and manage the necessary paperwork. And since you will be operating from home, a home office will be ideal for your business structure. Also, you should try to build a workshop area with lots of room—this is where you will be repairing the appliances that cannot be repaired at your clients’ premises. If you don’t have enough space for your workshop, consider using your garage as you plan to expand your business.
Reach out to your target audience
This is where your marketing plan comes in. With that said, it’s important to note that there are several ways that you can use to reach your target audience, including:
- Creating a website and social media pages
- Hanging flyers on community notice boards
- Putting ads on local papers, radio, and TV stations
- Creating business cards
- Designing a branded decal and branding your vehicle
When creating a marketing plan, make sure it targets the right clients and is within your budget. Also, it’s essential to test different advertising methods—this enables you to see the most successful strategies. Besides, it stops you from spending a lot of money on expensive adverts.
Your marketing efforts will not only attract new clients but will also help you build brand awareness. So, the more you get your name out there, the more recognizable your business becomes. This, in turn, will ensure that you will get more and more service calls from different people in search of an appliance repair technician.
Bottom Line
According to the experts from Hartman’s Jacksonville appliance repair, the appliance repair industry is very competitive. However, you can thrive in the industry so long as you have the right skills and experience. Please note that you will not be repairing appliances only when you start the business. Instead, you will need to harness your promotional and organizational skills if you want the business to thrive. With that said, you will need proper planning if you want your business to run efficiently and smoothly. This is the only way you can attract more customers and grow your business.
