There are some three key challenges that you may encounter when setting up a home staging business. The business we are making reference to here would be one revolving around helping people prepare their homes for sale. We all know that it is not always easy to prepare a home for sale. There are so many things that have to be done, and done right, if a home is to attract buyers fast, and if a home is to be ultimately sold for the rightful price. For instance, if a home is to attract buyers fast, and if a home is to be ultimately sold for the rightful price, it has to be painted, before being put up for sale. Further, if a home is to attract buyers fast, and if a home is to be ultimately sold for the right price, the lawns and hedges around it have to be worked on extensively, before it is put up for sale. Quite a bit of interior decoration may also have to be done, before a home is put up for sale, if it is to attract a serious buyer in reasonable time, and up being sold at a reasonably high price.
Many homeowners find the tasks that have to be carried out before a home is put up for sale (that is, the home staging tasks) overwhelming. They seek help with those tasks, and therein lies the opportunity for you to set up a business: to help the homeowners who are aspiring to sell their homes with those tasks. But don’t expect the establishment of such a business to be smooth sailing. There are some challenges to be anticipated.
The first key challenge that you may encounter when setting up a home staging business is that of getting the necessary capital to get the venture up and running. The problem here is in the fact that the banks and other potential financiers may not see this as a ‘serious’ business that is worth of being financed with their resources. You will come to learn that many people who set up home staging ventures end up having to finance them with their own funds, and you may find yourself being forced to take that route too.
The second key challenge that you may encounter, when setting up a home staging business, is that of getting the first cache of clients to work for. This is always a challenge in every business, but it is likely to be more of a challenge in this particular type of business, in which reputation is everything. You will ultimately find yourself having to network extensively, if you are to get the first set of clients to work for and establish a reputation for yourself.
The third key challenge that you may encounter when setting up a home staging business, is that of coming up with an appropriate pricing structure for your services. It is a very delicate balance – where you can’t afford to be too cheap nor too expensive. If you are too expensive, you will put off prospective clients – these being people who always have the option of doing the home staging tasks by themselves. On the other hand, if you are too cheap, you won’t manage to cover all your business and personal costs, and your business will sink. You thus have to strike the right balance, and that is a very huge challenge.