I have an idea for a new business, do you think it is a good idea.
By
on
March 30th, 2008
I have invested in property and as a result have thrown myself into all kinds of DIY and refurb projects. I have found that prior to trying to sell a property there is a lot that can be done on a shoestring budget that will dramatically add value to the property, or at the very least increase its saleability (simple redecoration and dressing the property with modern furniture so to “sell the lifestyle”).
What I plan to do is set up a business as a ‘house doctor’. My business would provide free consulations and then for & fee of between approx. £1000 and £3000 would carry out the agreed work (to include-painting, freshening up of bathroom/kitchen grouting, replacing light fixings, door handles, other fixings etc. and fully dressing the property including curtains, bedspreads/dressings, throws, cushions, vases, decorations etc etc etc).
My initial leads will come from estate agents who have clients that are struggling to sell.
What do you think of the business idea.
Was also thinking that long-term I could sell franchises - with the franchisee benefiting from training (in the selling part, not the DIY), discounted suppliers, etc etc.
Do you think that this type of franchise could be a success.
constantworker says:
You need to keep asking whether there is a market for that.
March 30th, 2008 at 5:31 pm
steve g says:
good, a fresh eye is all many houses need. I could do with you.
March 30th, 2008 at 6:21 pm
GillJay says:
I think it’s a good idea for busy people who haven’t the time, inclination or knowledge. Good Luck.
March 30th, 2008 at 6:58 pm
sunflora says:
Just a thought but I wouldn’t offer a free consultation because you tell them what needs doing and they do it themselves. however, if you do an initial free consultation, advising if you think you could help them (without giving too much away) and then they pay say £250 up front for a full consultation, you could then knock this off the final works invoice/bill should they decide to use you for the work
March 30th, 2008 at 7:42 pm
Peilthetraveler says:
Of course its a good idea, although its already been thought of. Its called Home staging. Do a search on yahoo and you will see a ton of companies that do this.
March 30th, 2008 at 8:13 pm
Big Bad Ben says:
Great. but it’s not a new idea. People have been doing this for decades, sorry.
Why don’t you try selling the house you’re in now, buying a sh*t heap somewhere as cheap as possible, fix it up, sell it for a profit, and so on. not a new idea, but plenty of people are making a decent living from doing it.
March 30th, 2008 at 8:46 pm
bill757051 says:
Sounds interesting. Two comments:
1) make sure you don’t give away too much during the ‘free’ consultation - otherwise the client may do it themselves. You might want to offer 2 levels of service:
a) free consult with paid implementation; or
b) paid consultation with written report with an optional implementation (offering a ‘discount’)
2) make sure the estate agent will back up the increased value that your service can add
Good luck.
March 30th, 2008 at 9:19 pm
Bandit says:
In the US, it would require a contractor’s license I think. It sounds like a fabulous business if you can get the clients I made more money part time refurbishing houses for resale than my full time job. However it required substantial capital to buy the properties and then the materials. Good luck.
March 30th, 2008 at 10:12 pm
Brian Blue says:
Depends on how good you are, it is not a unique idea but opportunities do exist,
March 30th, 2008 at 10:52 pm
ANF says:
Sounds quite good but people will be unlikely to employ and pay you to do this work unless they are well heeled. Why not first start up a painting, decorating and general repairs service and then as your name get known expand into your House Doctor idea. Best of luck.
March 30th, 2008 at 11:23 pm
petcoolers says:
Good idea but in the current US housing market you’ll be hard pressed to find customers. Since most sellers are short on cash and near foreclosure. Unsure if the UK market is as bad but UK bank stocks are down.
Maybe a deal where you get a % of the sale price if the customer is low on funds could be an option.
March 30th, 2008 at 11:53 pm
ukok says:
Vendors are too tight to want to spend the money. They want maximum price for their house, minimum purchase for the one they are buying and no costs for the whole process. They certainly dont want to fork out a few grand on their wonderful house (they cant see fault in their own home) which is fine to them.
The selling public tend to lose their brains at this time and will not see value in this.
March 31st, 2008 at 12:31 am