There are abundant opportunities for entrepreneurs interested in starting a tile business. But the problem for many is how to go about it.
We have written this article to show you the steps required. We have focused on the most vital aspects of this business.
Therefore, you should have as much information as is necessary. It doesn’t matter your level of expertise, as there’s something for everyone.
Types of Tile Business
The type of tile business matters. Also, it largely depends on expertise. So, when starting a tile business, an important question to ask is what type of tile business to establish. This can also be referred to as the niche.
To make things clearer, there’s the tile manufacturer, the seller, repairer or maintenance expert as well as the installer. Identifying your particular interests will go a long way in making the process much easier.
STARTING A TILE BUSINESS CHECKLIST
Do you have what it takes to start a tile business? Such a question may be confusing, but it doesn’t have to. It is normal to want to start this real estate based business. But certain qualities are required of you. These include having significant experience in home maintenance and repair.
Such expertise should cover tile installation, different flooring types as well as easily identifying the best tile products.
The business side of things is equally important. You should be able to run a business while making your clients feel valued. This calls for some recommendations on your part. Some clients will need your expert opinion.
In such cases, your ability to connect with them will determine how your tile business is perceived.
Developing your Tiling Service
A successful tile business will have a range of quality services. In other words, there’s more to tile selling. There are maintenance services, tile cleaning, tile installation among others. Tiles also have a broad categorization.
Hence, it is necessary to identify these so you don’t restrict the concept. While there are flooring and wall tiles, others include partition tiles and roofing tiles.
So, you may have to decide whether to restrict yourself to a specific category of tiles or add all of them to products on display. The market plays a decisive role in this regard.
Therefore, you’d need to identify what tile products generate the greatest demand.
A showroom is a basic requirement for starting a tile business. This is where you’d receive your clients. All tile samples should also be displayed here.
But don’t confuse a showroom with your store. The latter is where you keep an inventory of your supplies. This contains the bulk of your supplies as only samples are displayed in the showroom.
Your showroom should be spacious enough. This is in addition to having adequate lighting. Clients will come in to choose their preferred tile designs. But this isn’t complete without being on hand to answer questions. So, how do you handle a situation where there are multiple clients?
Easy! You need employees.
You also have the option of coordinating business activities yourself or hiring a store manager. In any case, proper coordination is essential.
Having Quality Tiling Skill
Having the skill is a basic requirement. Although this isn’t a precondition for starting a tile business. There are times when your skill sets will be tested. This is more common when applying for major contracts.
Because of this, you’d need to take some courses if you don’t have the skill. Thankfully, this won’t take forever to learn. You will need to have some proof of vocational training as well. This will enhance your chances significantly.
The Cost Implications of Starting a Tile Business
The cost of starting a tile business may vary from one location to another.
A major ingredient for success is choosing the ideal location. But what is an ideal location? It is one with adequate parking space as being easily accessible to visitors. Such locations will cost more. Though not so expensive. For this, a budget from $3,000 to $5,000 should be set aside.
But these aren’t the only things that take up cost. There’s marketing, computer, and accessories, inventory, fixtures or displays as well as insurance. Running costs are also a part of your expenses. These include wages and utility among other things.
The Planning Process
This is a primary requirement for a tile business. This deals with and covers all other areas of your operations.
To have a solid plan, you’d have to factor in the cost as mentioned earlier. Others include the time it will take to break even, your business name as well as your market.
Other Steps Include…
While the steps above are vital for starting a tile business, more are equally important. These have to do with the general framework of setting up the business.
Choice of a Legal Entity
This is of utmost importance to a tile business. Here, you can avoid liability that may arise due to your business being sued. Common ones include partnerships, sole proprietorship, LLC and more. But which is best?
Well, it depends on what works for you. Consider seeking legal advice before making a decision.
All businesses, including a tile business, are required to register for state and federal taxes. However, not all tile businesses qualify for federal tax registrations. Nevertheless, you’d need to find out what applies to your business.
Apply for an Insurance
To start a tile business, it’s best to do it the right way. Therefore applying for insurance should be one of the steps you take. Check what your state’s insurance requirements are. This enables you to work within legal boundaries.
Open a Bank Account
Your business needs a bank account for several purposes. One of such is for easy calculation of tax. An added advantage is that you get to maintain a grip on your finances. This enables you easily trace your cash-flow among other things. This should include establishing an accounting department to help with proper documentation.
Build a Website
Marketing your tile business is essential. So also is the capacity to reach a wide audience. Therefore to achieve this, you need to have a website ready. This will do better with social media accounts where you sell your services and products among other things.
Starting a tile business can be challenging. However, this will count for nothing if the right steps aren’t followed.
We understand this clearly and have provided you with detailed steps to build your business. You’d need complete dedication and focus to emerge successfully.