On average, garage doors open three to five times a day. When something is in constant use, there’s no doubt that it’ll require a form of maintenance at some point in time. That is precisely why starting a garage door repair business is a fantastic idea. Most houses have at least one garage door, if not three. Starting a garage door business utilizes the fact that garage doors are widespread.
Contrary to popular belief, garage doors aren’t highly complex pieces of hardware. Most individuals with a decent background in construction can repair one with relative ease. That makes finding qualified employees a simple task. You’ll need some tools and a proper business plan, among other things. Keep on reading to discover the steps to starting a garage door business.
1. Garage Door Business Plan
The first thing you’ll need to complete when starting a garage door business is a detailed business plan. Before the process begins, taking time to study the industry and successful competitors may be a worthwhile contribution.
It may take some time to find a valuable resource. However, reaching out to garage door repair business owners from other towns and cities is a great place to start. Avoid talking to your inner-city competition as they are not likely to share vital information with you.
A Helpful Resource
Talking to someone who has an established business in the industry will avoid many common mistakes and pitfalls. Avoiding these industry pitfalls will save you invaluable time and money. Saving as much time and money at the start of the project is always recommended.
Browsing the Internet will give you a great understanding of your competition. Knowing what you’re up against is highly beneficial. Your business plan can change depending on how stiff the local competition is. Are there ten different local garage repair businesses or only two to compete with?
Once you have an understanding of your surroundings, it is time to outline your goals. A detailed plan is a key to success. Every major step must be outlined and followed through with precision. A proper business plan will prepare you for the unexpected speed-bumps along the way.
Some of the questions your business plan will deal with are quite simple. Simple questions such as what services am I offering are worthwhile inclusions. In addition to tracking your growth, think about where your company aims to be in the next three years. Most of the complex questions will be detailed below.
2. Create Your Brand
Branding is an essential aspect of your business. Take some time to think about how others will perceive your company. Potential customers will view your logo and name as a representation of your company. Visual elements can prove to be a key cog in convincing customers to purchase your service.
Thinking of a garage door business name is certainly a challenging task. Once a name is chosen, move on to logo design. These are the two main aspects of branding. It would help if you also considered secondary aspects. Secondary aspects ensure that uniformity is maintained. The colors seen in your logo should be the colors used across the board. This means your website, uniforms, and logo should respect a color scheme.
Consistency is the key to developing a brand identity. Don’t forget that these are big decisions that impact your company’s perception, and it is okay to take your time with this. It would be best if you felt confident about the name and logo. Before settling on a name, ensure a website domain is available for this particular company name.
3. Identify Skillset and Hire Employees
Luckily the required skillset isn’t all too unique when it comes to finding employees. Most of the services can be completed by individuals with a mild understanding of construction principles. The great news doesn’t stop there. As a garage door repair business, you may also want to think about garage door installation. Repairs will certainly cover the majority of your workload. Ambitious owners who also want to install doors can do so with minor inconveniences to your plan.
As previously mentioned, garage door repair will remain the major focus. This encompasses a few specific issues. The first problem potential customers will look to get fixed is mechanical issues. Most of the mechanical issues deal with motor repair and replacement.
Be Prepared for Anything
Garage doors can operate on a few different systems. Whether a chain system, belt system, or screw drive system, be prepared to encounter different styles. What’s interesting about garage doors is their modernity range. Modern products, such as smart garage doors, are the new industry trend. You will undoubtedly encounter several customers looking to modernize their system. This is another great service to offer.
Of course, there are also non-mechanical repairs to take care of. Physical door replacement is also quite common, seeing as the doors are prone to degradation. Thus ensuring employees are able-bodied is quite important. Strength and physicality are key aspects of garage door repair. Due to the proximity and environment of being in a customer’s home, completing tasks with a smile and offering fantastic customer service are also requirements.
4. Calculate Expenses
Maintaining a budget is highly recommended. You must consider the one-time expenses involved in starting a garage door repair business and recurring expenses. Fortunately, operation costs are quite low. The majority of your budget will be dedicated to acquiring the proper tools. These tools include drills, saws, and common toolsets.
Transportation is the other major expense. Seeing as the service involves house calls, a reliable truck of sorts is a necessity. Don’t forget to factor in fuel cost. All in all, you are looking at a startup cost of around $6,500. Here is a list of other expenses you can expect to pay.
- Car insurance
- Business insurance
5. Determine Target Audience
This section is quite simple. There is little variation in terms of identifying a target audience. Truthfully the bulk of your audience will be residential homeowners who need immediate garage door repair services. This works to your advantage as your reputation can grow quickly due to the efficient communication channels within densely populated areas.
6. Develop a Garage Door Marketing Strategy
Marketing strategies have never been as important to a business’ success as they are at this moment. Several avenues can be utilized for maximum outreach. However, your marketing budget will likely force you to begin with just a few. Search Engine Optimization (SEO) and Social Media Marketing are a fantastic combination.
SEO is the more complex of the two. Using keywords, your content or website can be made to rank higher when it comes to Google searches. This requires a ton of commitment. You must create website content that is SEO compliant. An understanding of how to optimize a webpage is a necessity. Not everyone is equipped with this knowledge. However, several online resources can point you in the right direction.
Social Media Marketing
Social media marketing is a much less time-consuming process than generating SEO content. Platforms such as Instagram and Facebook have built-in marketing tools made specifically for business owners. The social media platforms do most of the legwork, which makes it a highly accessible tool.
Even those with little to no knowledge regarding social media can make the most of their advertisements. A key factor of this method is ensuring you have extremely high-quality photographs. Most successful advertisements rely on stylized photos to generate customer interest.
7. Setting Up
Ensuring your business is ready to take on work is perhaps the most complex step in starting a garage door business. Due to the long list of requirements, it is important to factor in the time it takes to ensure all of the steps are complete before you begin your first job.
Registering for taxes is the first step. Businesses must pay federal and state taxes. Registering your company is the first official step to legitimizing your garage door repair business. The next step also includes financial details. Opening up a business bank account is highly recommended. This will grant you access to a company credit card. Using business accounts will protect your personal assets from being risked in unfortunate situations.
Next, we move from finances to the legal world of permits and licenses. Ensuring you have the proper permits will save you countless dollars accrued in fines. The tricky aspect regarding licenses is that they differ depending on your location. Some research will be necessary; here is a useful reference.
In the United States, employers must also follow safety requirements. It is the employer’s responsibility to provide a safe workplace. Dealing with garage doors opens up the possibility of running into safety issues. Use this resource to ensure you meet these standards.
Lastly, you’re going to need insurance. Business insurance protects your company from losses during unexpected circumstances. Depending on the type of coverage you’re looking for, there are a few plans to choose from. However, this step cannot be ignored. In addition to business insurance, you’ll likely need workers’ insurance. This insurance compensates employees in the case of injury.
If all of this new information regarding how to start a garage door business seems like too much to handle, there’s a solution for that. Businesses can opt to make use of management software. This is the number one way for new businesses to remain organized. This software can manage employee scheduling, track your budget, account and record sales, and manage inventory.
Having all of this vital information in one place is ideal. If all of this seems too overwhelming, utilizing this software can certainly lighten the burden. It is worth giving a shot, especially in the early stages. If you’re interested in increasing efficiency and taking advantage of these advanced features, check out this highly recommended garage door software.
You’re probably wondering: how much does a garage door business make? This is a fair question that is worth analyzing for anyone wondering how to start a garage door business. On average, a garage door repair business makes $125,000-$250,000 in profits a year. As you can see, it is quite a lucrative business.
However, it is important not to get distracted by these numbers. It is highly recommended that you invest a large portion of these profits back into the business during the early days. This is one way to ensure long term stability and continuous growth.
Now that we know how much a garage door business makes? It is important to dissect where these profits come from. We know that a garage door repair business earns money repairing and installing garage doors and their mechanical parts. The high profits recorded are mainly since it doesn’t cost much to repair garage doors. Low operation costs are a great advantage of a garage door business, in addition to the fact that garage doors are one of the most frequent household items in need of repair.
When identifying the amount to charge customers, you must factor in labor costs and material costs. Of course, there is some variation in pricing depending on the style and mechanism in question, but the labor should remain stable at $100 an hour. The actual door can cost anywhere between $500 and $4,000. With these figures, it is clear how businesses can reach the six-figure mark.