5 Growth Strategies for Your Home Renovation Company

The renovation industry has seen significant growth over the last few years, and that’s despite the inflation! First and foremost, this is on account of several homeowners, particularly baby boomers, who prefer renovating rather than selling their homes and moving. Carrying out renovations allows people to revamp their homes according to the needs of the dwellers, or simply improve their day-to-day lives. Furthermore, renovating residential properties is also a way to add value to a home.

For renovation companies, this is good news! With that being said, even if projects are plenty, it is not always easy for a contractor to stand out and close the deal on a lot of contracts. Lack of organization, bashful personality, price points, and the manner in which the quote is submitted are just some of the factors that can affect your success, as well as that of your company. 

In the following paragraphs, we will present different approaches to help your home improvement company attract more customers and have a better conversion rate. 

How to Grow Your Business in the Short and Long Term 

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The following tips apply to both small start-ups and established businesses that never really looked into, or taken the time to, develop an accurate and comprehensive strategy. 

1) Make a plan with specific goals 

Many contractors have a very general idea of ​​the goals they want to achieve. They want to earn a living, work hard at times and take a vacation when they feel like it. However, not everyone takes the time to make a detailed plan with quantifiable goals, predictions, and ways to achieve it. 

Take the time to study your business, its strengths and weaknesses. Also, look at the current state of the renovation market in your area. With this information in hand, you can build a plan.

If you don’t think you can analyze the information and create a realistic plan, do not hesitate to call in the services of a business valuation expert. They can look at the possibilities, and help you adapt them to the extent of your ambitions and the reality of the market. 

2) Build an online presence 

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Are you still without a business website and a Facebook page? Don’t wait any longer. If you don’t want to invest a lot of time or money, you can opt for a microsite (website with a single page) or focus your efforts on managing your social media. 

These web pages will be used to introduce your company, share testimonials from former clients, show examples of work that you have done, and communicate more easily and efficiently with your customers. 

3) Establish a structure when submitting quotes 

Everyone has their own way of submitting quotes. Some prefer to have very detailed worksheets, detailing every aspect of the project, while others write basic information on a sheet, without going into specific detail. 

Typically, customers prefer the former; contractors tend to earn the trust of potential customers from to get-go with the attention to detail demonstrated showcased by a detailed quote upon the first meeting. On the other hand, it's easy to understand how some don’t want to spend so much time filling out a document. 

If you don’t want to change your habits when submitting quotes, at least take the time to structure your presentation so that you feel well-organized. This is likely to help win over some customers and secure deals. 

4) Use tools to streamline task management  

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Nowadays, life is increasingly busy, and schedule management can be complicated. Fortunately, we have access to a multitude of scheduling and task management tools, free or affordable. 

Refer to the article below for more information about business management tools to help you work efficiently and focus your energy where needed. 

• 6 Apps to Help You Run Your Renovation Business

5) Leverage customer referral platforms

In the past, contractors found customers by paying to feature their names in the phone book, or through word of mouth. Nowadays, people's habits have changed and most of the time, when they have a request to make, they hop online. 

Homeowners use search engines to find contractors that they will then contact to get a quote. More and more people are also using referral platforms like RenoQuotes.com to find reliable and certified contractors. 

As a contractor, this kind of platform can be very useful for finding potential customers because there is little effort to be made. Simply register, fill out your contractor profile, and indicate the services you offer and the territories you cover. Afterwards, projects will sent your way, usually via email. Once you have accepted a project and received the client's contact information, it's up to you to communicate with them and submit a quote. 

With RenoQuotes.com, we receive hundreds of projects every week; projects are validated and sent to relevant contractors. The latter receive basic project information (type of work, budget, location) and, should they be interested, they can click "Yes" and, for a small fee (between $5 and $50), get the rest of the information about the client. It's a quick, simple, and effective way to reach out to new customers, without investing a ton of money to advertise or build a website.