Renovations and remodeling are big businesses in the UK and around the world. More and more architects, designers, and interior designers recognize that this trend is only going to increase.
In 2020, home improvement created a healthy environment for nearly all trades related to renovating. This is good news for you. It means you can orient your business to surf this home improvement trend.
As you do this, you’ll recognize that no matter what part of the equation you’re focusing on, people go crazy about their homes. Some of the biggest trends include:
- Opening up home space to create room for home offices
- Creating room for homeschooling
- Enhancing homes with smart home-tech
- Transforming lost outside spaces to serene sanctuaries
- Creating the illusion of bigger rooms with minimalistic decor
Keeping An Eye On Costs
Once you realize that profitability will make or break your business, you’ll be hooked on measurement. You’ll most likely dive into the numbers. You’ll look at what you’re spending on fixed costs like rent, electricity, water, and the Internet.
You’ll look at what you’re spending on variable costs such as advertising, transportation, marketing, and shipping. According to recent statistics, 9 out of 10 shippers overspend. This is contributing to your fixed costs, overhead, and business expenses. You could save as much as 30% with a parcel audit.
Many real estate professionals are looking at causes for the uptick in remodeling. Why is it so popular?
Perhaps it’s because more people are working remotely. More and more professionals are seeing that remote working is here to stay. Even if a return to the office occurs, it is not likely to be seen as the only solution.
In many circles, people felt challenged by virtual work. A lot of professionals felt that there was a loss of social contact, loss of normalcy, and loss of productivity.
Yet, at the same time, other people have understood remote working as an opportunity.
In light of last year’s restrictions, some tradespeople are specializing in setting up home offices. One electrician in our area offers to create an office-ready lighting solution. A construction firm nearby has a special deal on home office remodels. Yet another has a design team specializing in home office decor.
As you consider the opportunities, look also for partnerships and collaborations. Here are a few to evaluate:
Design Inside and Outside Spaces
Combine your expertise in interior design with an expert in patio design. It’s a match made in heaven.
Design and Build
When you’re working with clients, you can provide a seamless solution—designing and building. This helps clients know that you understand their vision, priorities, and timeline. Without having to start a new relationship to move from one phase to another, clients can build trust in your ability to execute on their vision.
Remodel and Decorate Home Offices
There’s no question that home offices often emerge from lost spaces such as attics, garages, and basements. Remodeling the walls, floors, or ceilings is only part of the final success. If you can provide interior décor and collaborate with a remodeling expert, you can take your client from idea to finished solution in record time.
Build, Decorate, and Maintain Sanctuary Gardens
Many professionals dream of having a serene sanctuary in their backyard. Yet, between work and family life, they don’t have the time to take on the project from start to finish. If you can collaborate with partners, you can provide a one-stop-shop for creating sanctuary gardens. You may even be able to extend this to plant care, seasonal upgrades, and ongoing maintenance.
Offer Interior Design for Visual Artists
Many filmmakers and photographers are looking for unique settings. If you have access to remote locations and properties, you could collaborate with visual artists. Similar to stage setting, you could set the stage for a film or photo shoot.
Offer Real Estate for Remote Work Locations
After a year of being in lockdown and quarantine, a lot of professionals are itchy to travel. Some companies are offering remote work settings as a perk to attract top talent. Perhaps you can collaborate to boost profitability for real estate properties that are unused or under-booked. Consider how you can collaborate with local businesses to offer your property for their remote work office or get-away.
This is the time to jumpstart your success in real estate and remodeling. If you are looking for opportunities, talk to your colleagues and explore what’s possible in your network.
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