(LifeWire) - Overview of the Floor Installation Business
Every building needs floors, and that's where a floor installation home business comes in, making it a good home based business idea that promises strong earnings and growth potential.
Most floor-installation technicians learn through apprenticeships or contractor-sponsored programs, charging between $35 and $40 an hour, according to Entrepreneur.com. That's considerably more than the $16.44 median hourly income for workers who are not their own boss, according to the Bureau of Labor Statistics' Occupational Outlook Handbook, which is one more argument for operating as a floor installation home based business.
A reliable vehicle with ample cargo space is essential, as is secure storage space to keep your tools and supplies. If you decide to expand your floor installation business from residential only into installation for municipal buildings and businesses, the licensing requirements are generally tighter than for residential-only work. California, for instance, mandates an apprenticeship-completion certificate from an accredited federal or state council for commercial floor installers. In the residential market, though, a reputation for doing the job thoroughly and cost effectively will give you the edge to build your enterprise from the ground up through word of mouth referrals.
Pros of a Floor Installation Home Based Business
- Floor-replacement jobs can be labor-intensive and potentially lucrative. You can also pick up extra cash with floor-refinishing assignments.
- Need tends to not fluctuate as much as other construction, according to the Occupational Outlook Handbook.
- The wholesale-to-retail markup can be profitable. For example, laminate flooring sells in the store for $4 to $6 per square foot. Wholesale costs average $1.50 to $2.
- It's a freelance-friendly field, with 42% of floor layers categorized as self-employed.
Cons of a Floor Installation Home Based Business
- Labor-intensive nature of some projects, limiting your ability to take on multiple jobs without using hired help.
- 4% growth predicted in the flooring trade through 2016 is below average for all occupations, according to the Occupational Outlook Handbook.
- Exposure to glue and varnish fumes and working with sharp tools increase risk of injury.
What You Need to Get Started in a Floor Installation Home Based Business
- Contacts among interior decorators and home-improvement centers that will subcontract to you for installation whenever a customer purchases flooring.
- Online and print advertising, vehicle signage and a website to promote your business
- Tools, including jig saw, cordless drill, portable table saw, and tape measure
- A business license and insurance
Floor Installation: Real-Life Example
Rolando Oliva, a longtime floorer in Miami, charges $1.25 per square foot for installing tile and $2.50 per square foot for marble, according to his website.
Related Home Based Business Ideas
- Home Business Ideas and Opportunities - Handyperson
- Home Based Business Ideas - Interior Designer
- Carpet Cleaning Services Work from Home Business
- Ideas for Home Business - Picture Framing
More on Starting a Home Based Business
- Starting a Home Based Business
- 8 Steps to a Business Identity
- 9 Obstacles to Starting a Home Based Business - and How to Overcome Them
This article is part of the 7 Home Based Home Improvement Businesses collection. Use the link to access other home-based businesses in this collection.