People who've been through a natural disaster or a fire on their premises typically require their homes to be restored. However, home restoration is not restricted to this; it embraces activities ranging from restoring woodwork to recarpeting. If you're thinking about opening up a home restoration business, you should be aware of the steps involved.
Instructions
1. Select your legal style of business. Decide if you're going to run your business as a sole proprietorship, a corporation or a limited liability company (LLC). If it's going to be a sole proprietorship, settle on whether you're going to do the work yourself or hire subcontractors to do the on-site jobs.
2. Decide what part of home restoration you're going to specialize in. Restoring homes damaged by flooding, fire, sewage and mold infestation is the typical service provided by such businesses. If you have prior experience in the field and you're going to do the work yourself, start by concentrating on your area of expertise. Finalize if you're going to provide additional services such as restoration of flooring and carpets and odor removal.
3. Secure your premises. The state of New Jersey allows you to conduct business from both an office premise and a residential premise. If you're planning on using your home, write letters to the U.S. Postal Service and your telephone company to inform them about the use of your home for business purposes. Keep a copy of these to submit with the license application form. If you're leasing office space, put up a board with your business name on the premises. Take photographs of this location on both sides. Preserve these to submit with your license application form.
4. Purchase insurance coverage. Get in touch with an insurance company and purchase public liability and workers' compensation insurance. Whether you have employees or not and whether you subcontract work or do it yourself, some states -- New Jersey, for example -- may require you to have this insurance to be able to apply for a home repair contractor's license.
5. Obtain a home repair contractor's license. Home restoration contractors in New Jersey have to apply at the Licensing Services Bureau of the N.J. Department of Banking and Insurance. Procure the application form from the Licensing Services Bureau or its counterpart that exists in your state. Attach a copy of the lease for your location, and attach the certificate of insurance and two photographs of your business location. One of these photographs should show your business name. If you're planning to operate from your home, submit the lease or rental agreement of that location. Also attach copies of the letters you sent to the post office and telephone company. Submit the completed and signed application form with relevant documents. Wait to be granted your license; once it arrives, you can start taking up home restoration business orders.
Tags: application form, your business, home restoration, work yourself, your home
