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Self-Counsel Press - Dana J. Smithers

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142 pages

English

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Description

With the recent economic downturn you might be one of those people who would rather invest in yourself than rely on ‘big business’ for your future security. The good news is, according to recent surveys the home staging industry is poised for growth in the coming years!
The home staging industry is growing in leaps and bounds because most home buyers want a ‘move-in ready home’. Home buyers in today’s market are considered more sophisticated than they were a decade ago. Most buyers say they want to have minimal renovating to do when they move into a new home. Translation: a home that has been staged is going to need less work than a home that has not been staged; therefore it will sell sooner and for top dollar. Your reputation as ‘the stager’ who got this house ready for the market will bring you more business as home staging is a referral generated business.
Home staging is the perfect business that can be started with a very small investment of time, money and energy; it can be a part time or full time business.
Today's typical home-buyer wants minimal muss and fuss when it comes to settling into a new home. Many people have an idea of their "dream home," or keep a list of characteristics they want their new house to possess. Many of these sought-after characteristics are common to most home-buyers; but unfortunately for home-sellers, these characteristics are not always readily apparent in a house well lived-in. Many homeowners are beginning to realize that they could sell their house more quickly and effectively if they knew how to present it in a way that's more appealing to buyers.
That's where you come in!
Start & Run a Home Staging Business is the perfect step-by-step guide for anyone who wants to start their own business putting their design talents to use. This book provides tips for home staging itself, including making a room look more spacious and appealing to buyers, as well as marketing tips for making your expertise seem appealing to homeowners who may not be generating the amount of interest they need to sell their home.
Home staging is a rapidly growing industry as homeowners realize their emotional investment in the arrangement of their home may not be what homeowners are looking for. Become part of the growing trend in home staging and put your skills on the market!
Introduction xiii
1 Getting Started 1
1. Determining If This Is the Right Business for You 1
1.1 Creative talents and physical abilities 1
1.2 Skills and attributes 2
2. Setting Your Goals 4
2.1 SMART goals 4
2.2 Determine your revenue streams 4
2 Developing Your Business Plan 7
1. What Goes into the Business Plan 7
1.1 Executive summary 8
1.2 Defining your vision and mission statements 8
1.3 History and background 10
1.4 Operations and description of the business 10
1.5 Market research and sales plans 12
1.6 Financial plan 12
iv Start & run a home staging business
1.7 Forecasts and projections 13
2. Revisiting Your Business Plan 13
3 Market Research 16
1. Researching the Competition 16
1.1 Your competitors as collaborators 17
2. Researching Your Target Markets 17
2.1 Home sellers 18
2.2 Realtors 21
2.3 Home builders 21
4 Legal Business Requirements 23
1. Business Name 23
1.1 Deciding on a tagline or slogan for your business 24
1.2 Business name approval 24
1.3 Business name registration 26
2. Business Number 26
3. Choosing Your Company Structure 27
3.1 Sole proprietorship 27
3.2 Partnership 27
3.3 Incorporation 28
4. Business License 29
5. Business Taxes 29
5.1 Federal sales taxes 29
5.2 State and provincial sales taxes 30
5.3 Income tax 30
5 Insurance 31
1. Home Insurance 31
2. Business Insurance: Commercial Liability 32
3. Cost of Your Inventory Coverage 33
4. Rental Furnishing Company’s Coverage 33
5. Workers’ Compensation 33
6. Critical Injury or Disability 34
7. Vehicle Insurance 34
Contents v
6 Branding Your Business 35
1. Why Your Brand Is Important 35
2. Establishing Your Brand Image 36
3. Your Brand Image Will Change over Time 36
4. Trademarking Your Brand 36
5. Key Marketing Pieces Needed to Secure Your Image 38
7 Marketing and Advertising Your Business 40
1. Marketing Strategies 41
2. Networking 41
2.1 How to network 42
2.2 Tips for positive networking 43
2.3 Benefits of business networking memberships 44
2.4 Social media networking 47
3. Advertising 48
3.1 Article submissions 49
3.2 Media releases 50
3.3 Other creative advertising ideas 50
4. Presentations 51
4.1 Different types of venues for public talks 51
4.2 Types of presentations 52
4.3 Paying workshops 55
5. Trade Shows 56
6. Auctions and Golf Tournaments 57
7. Open Houses 58
7.1 Realtor open houses for home buyers 58
7.2 Realtor open houses for realtors 58
7.3 Other realtors’ open houses 58
8. Retail Locations for Promoting Your Business 58
8.1 Fitness centers or gyms 58
8.2 Home decor stores 59
8.3 Coffee shops and restaurants 59
9. Television 59
vi Start & run a home staging business
8 Marketing Tools 60
1. Promotional Materials — Print 60
1.1 Business cards 60
1.2 Postcards and rack cards 62
1.3 Flyers 62
1.4 Brochures 63
1.5 Greeting cards 63
1.6 Portfolio 63
1.7 Marketing binder 64
1.8 File or presentation folders 64
1.9 Direct-mail campaigns 64
2. Promotional Materials — Electronic 65
2.1 Website 65
2.2 Social networks 67
2.3 Ezines and e-newsletters 67
2.4 E-articles 68
9 Start-up Costs and Monthly Expenses 69
1. Income 69
1.1 Calculating annual income to weekly income 70
1.2 Calculating monthly income from weekly income 70
2. Standard Start-up Costs: Expenses 70
10 Services Offered by Home Stagers 76
1. Consultations 76
1.1 Free consultations 77
1.2 Realtor gift certificate consultations 80
1.3 In-depth home staging consultation 80
1.4 Color consultations 82
2. Recommendations and Reports 82
2.1 Client records recommendations 83
2.2 Your recorded recommendations 83
2.3 Detailed recommendation report 83
2.4 Open house or viewing checklist 84
Contents vii
3. Professional Organizing and Prepack Services 84
3.1 Downsizing recommendations 94
4. Sourcing for Rental Furnishings 95
4.1 Sourcing from rental furnishing companies 95
4.2 Sourcing from your own inventory 98
5. Shopping 101
6. Hands-on Staging or Installation 101
7. MLS and Internet Photos 102
8. Open-House Ready Check-in 102
9. Pack up — Destaging 102
10. Other Related Home Staging Services 103
10.1 Interior decorating or interior design 103
10.2 Project management 103
10.3 Move-ins 103
11 Pricing Guidelines 105
1. Hourly Pricing 106
2. Detailed Recommendation Report Pricing 106
3. Proposal or Bid Pricing 107
3.1 Bid for services only 108
3.2 Services with rentals 108
4. Exclusive Realtor-Arrangement Pricing 108
12 Sales Cycle for Home Staging Services 115
1. Typical Sales Cycle 116
1.1 Prospecting 116
1.2 Qualifying 116
1.3 Consultation 118
1.4 Features and benefits 119
1.5 Testimonials 119
1.6 Handling objections 120
1.7 Information Packages 121
1.8 Closing the sale 126
1.9 Invoicing 126
viii Start & run a home staging business
1.10 Signing the agreement 127
1.11 Receiving final payment 135
2. Follow-up 135
13 Hiring Contractors versus Hiring Employees 136
1. Home Staging Contractors 137
1.1 Pay rates for home staging contractors 137
1.2 Qualifications of home staging contractors 138
2. Home Staging Employees 139
2.1 Pay rates for employees 139
3. Other Considerations When Hiring Contractors or Employees 140
14 Building Strategic Alliances 141
1. Identifying Your Strategic Alliances 141
2. Disclaimer for Strategic Alliances 143
3. Discounts and Referral Fees from Strategic Alliances 143
3.1 Marking up products 143
4. Joint Ventures 143
15 Bookkeeping and Invoicing 145
1. Setting up Your Business Bank Account 145
2. Bookkeeping and Filing 146
2.1 Software packages 146
2.2 Bookkeepers 146
2.3 Accountants 146
2.4 Filing systems 146
3. Forms of Payment 147
3.1 Cash or check payment 147
3.2 Credit card payments 147
3.3 Internet and online banking 148
16 Your Home Office 149
1. Setting Up Your Home Office 149
1.1 Home phone 149
1.2 Cell phone 149
Contents ix
1.3 Toll-free numbers 150
1.4 Computers and software packages 150
1.5 Desk setup 150
2. Professionalism at Home 151
2.1 Dress the part 151
2.2 Set office hours 151
3. Getting Rid of the Home-Office Blues 152
17 The Stage Is Set 153
1. Celebrating Your Successes 153
2. Working with Affirmations 153
3. Get Connected 154
4. Working with Coaches or Mentors 154
Samples
1 Revenue Streams 6
2 Newsletter Sign-up Sheet 52
3 PowerPoint Presentation 53
4 Realtor Presentation 55
5 Calculating Annual Income from Weekly Income 71
6 Calculating Monthly Income from Weekly Income 72
7 Features and Benefits of Home Staging 120
8 Record Keeping 147
Forms
1 Client Consultation 78
2 Client Consent 80
3 Recommendation Report 84
4 Detailed Recommendation Report 85
5 Open House or Viewing Checklist 91
6 Inventory List 97
7 Inventory Cross-Check List 99
8 Proposal Estimate for Services Only 109
9 Proposal Estimate with Rental Inventory 112
x Start & run a home staging business
10 Generic Information Package 123
11 Invoice for Services Only 128
12 Invoice with Rentals 129
13 Rental Inventory Agreement 130
14 All-in-One Rental Services Agreement 132
Exercises
1 Self-assessment for Home Stagers 3
2 Determining Your Vision 9
3 Determining Your Company's Mission Statement 11
4 Business Plan 14
5 Comparison Chart for Existing Home Staging Businesses 18
6 What Is Your Competitive Advantage? 19
7 What Type of Clients Do You Want to Work with? 20
8 Choosing Your Company Name 25
9 Your Brand's Characteristics and Personality Traits 37
10 Creating Your Elevator Speech 44
11 Networking Comparison Chart 46
12 Business Cards: Your Likes and Dislikes 62
13 Websites: Your Likes and Dislikes 67
14 Determining Your Desired Weekly Income 71
15 Determining Your Desired Monthly Income 72
16 Six-Month Worksheet for Income versus Expenses 75
17 Home Staging Services You Will Offer 104

Sujets

Entrepreneuriat

entrepreneur

Emprendedor

Business

Economics

Employabilité, métiers et formations

Small Business

Home-Based Businesses

New Business Enterprises

Informations

Publié par	Self-Counsel Press
Date de parution	01 novembre 2023
Nombre de lectures	0
EAN13	9781770407343
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0650€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

Start & Run a Home Staging Business
Dana J. Smithers
Self-Counsel Press (a division of) International Self-Counsel Press Ltd. USA Canada

Copyright © 2011–2023

International Self-Counsel Press All rights reserved.
Contents

Cover

Title Page

Introduction

Chapter 1: Getting Started

1. Determining If This Is the Right Business for You

Exercise 1: Self-assessment For Home Stagers

2. Setting Your Goals

Sample 1: Revenue Streams

Chapter 2: Developing Your Business Plan

1. What Goes into the Business Plan

Exercise 2: Determining Your Vision

Exercise 3: Determining Your Company’s Mission Statement

Exercise 4: Business Plan

Chapter 3: Market Research

1. Researching the Competition

Exercise 5: Comparison Chart for Existing Home Staging Businesses

Exercise 6: What is Your Competitive Advantage?

2. Researching Your Target Markets

Exercise 7: What Type of Clients Do You Want to Work With?

Chapter 4: Legal Business Requirements

1. Business Name

Exercise 8: Choosing Your Company Name

2. Business Number

3. Choosing Your Company Structure

4. Business License

5. Business Taxes

Chapter 5: Insurance

1. Home Insurance

2. Business Insurance: Commercial Liability

3. Cost of Your Inventory Coverage

4. Rental Furnishing Company’s Coverage

5. Workers’ Compensation

6. Critical Injury or Disability

7. Vehicle Insurance

Chapter 6: Branding Your Business

1. Why Your Brand IsmImportant

2. Establishing Your Brand Image

Exercise 9: Your Brand’s Characteristics and Personality Traits

3. Your Brand Image Will Change over Time

4. Trademarking Your Brand

5. Key Marketing Pieces Needed to Secure Your Image

Chapter 7: Marketing and Advertising Your Business

1. Marketing Strategies

2. Networking

Exercise 10: Creating Your Elevator Speech

Exercise 11: Networking Comparison Chart

3. Advertising

4. Presentations

Sample 2: Newsletter Sign-Up Sheet

Sample 3: Powerpoint Presentation

Sample 4: Realtor Presentation

5. Trade Shows

6. Auctions and Golf Tournaments

7. Open Houses

8. Retail Locations for Promoting Your Business

9. Television

Chapter 8: Marketing Tools

1. Promotional Materials — Print

Exercise 12: Business Cards: Your Likes and Dislikes

2. Promotional Materials — Electronic

Exercise 13: Websites: Your Likes and Dislikes

Chapter 9: Start-up Costs and Monthly Expenses

1. Income

Sample 5: Calculating Annual Income from Weekly Income

Exercise 14: Determining Your Desired Weekly Income

Sample 6: Calculating Monthly Income from Weekly Income

Exercise 15: Determining Your Desired Monthly Income

2. Standard Start-up Costs: Expenses

Exercise 16: Six-Month Worksheet for Income Versus Expenses

Chapter 10: Services Offered by Home Stagers

1. Consultations

Form 1: Client Consultation

Form 2: Client Consent

2. Recommendations and Reports

Form 3: Recommendation Report

Form 4: Detailed Recommendation Report

Form 5: Open House or Viewing Checklist

3. Professional Organizing and Prepack Services

4. Sourcing for Rental Furnishings

Form 6: Inventory List

Form 7: Inventory Cross-Checklist

5. Shopping

6. Hands-on Staging or Installation

7. MLS and Internet Photos

8. Open-House Ready Check-in

9. Pack up — Destaging

10. Other Related Home Staging Services

Exercise 17: Home Staging Services You Will Offer

Chapter 11: Pricing Guidelines

1. Hourly Pricing

2. Detailed Recommendation Report Pricing

3. Proposal or Bid Pricing

4. Exclusive Realtor-Arrangement Pricing

Form 8: Proposal Estimate for Services Only

Form 9: Proposal Estimate with Rental Inventory

Chapter 12: Sales Cycle for Home

1. Typical Sales Cycle

Form 10: Generic Information Package

Form 11: Invoice for Services Only

Form 12: Invoice with Rentals

Form 13: Rental Inventory Agreement

2. Follow-up

Sample 7: Features and Benefits of Home Staging

Form 14: All-in-One Rental Services Agreement

Chapter 13: Hiring Contractors versus Hiring Employees

1. Home Staging Contractors

2. Home Staging Employees

3. Other Considerations When Hiring Contractors or Employees

Chapter 14: Building Strategic Alliances

1. Identifying Your Strategic Alliances

2. Disclaimer for Strategic Alliances

3. Discounts and Referral Fees from Strategic Alliances

4. Joint Ventures

Chapter 15: Bookkeeping and Invoicing

1. Setting up Your Business Bank Account

2. Bookkeeping and Filing

Sample 8: Record Keeping

3. Forms of Payment

Chapter 16: Your Home Office

1. Setting Up Your Home Office

2. Professionalism at Home

3. Getting Rid of the Home-Office Blues

Chapter 17: The Stage Is Set

1. Celebrating Your Successes

2. Working with Affirmations

3. Get Connected

4. Working with Coaches or Mentors

Download Kit

Acknowledgments

About the Author

Notice to Readers

Self-Counsel thanks you for purchasing this ebook.
Introduction

This home staging business book is written for entrepreneurs just starting out, and for experienced home stagers who want to refresh their business knowledge. The focus of this book is on how to start and run a profitable home staging business, although the information could be used by anyone in a design-related industry. It does not cover the physical aspects of staging a property.
The book takes a step-by-step approach to answer the why, how, where, when, and what of starting and running your home staging business. There is an opportunity for you to really take a look at why you want to have your own home staging business and to set goals that will propel you forward. By having a road map for your business you are more likely to succeed than having no idea of what you are trying to achieve.
The accompanying download kit (link to access this is at the back of the book) provides you with home staging forms and exercises to ensure your success as a home stager. You can change the forms in any way you want to suit your needs best — mix and match or use as is with your branding inserted.
Home staging makes a great part-time or full-time business opportunity. You may find as you grow your business that you will need to hire employees, but most likely in the beginning you will work with reliable contractors, and some may even be other home stagers in your area.
If you want to really expand your home staging business, you may decide to invest in some significant rental inventory (such as furniture). You can still create a very lucrative staging business by providing your own small inventory and renting from rental furnishing stores in your area. If you do not have any rental stores in your area, you may have to purchase your own inventory, or you may decide not to work with properties that require larger inventory.
Many savvy sellers over the years have been preparing their property to get it ready for market; in essence, they were doing some home staging. Home staging as a professional service industry began in the mid-1980s in the United States and United Kingdom. It has gradually emerged to become a well-recognized profession throughout Canada as well. Each year the demand for home stagers increases. Staging is now a must-have marketing tool for successful realtors and sellers.
Many people do not understand what services home stagers can provide for them. The purpose of staging is to create broad buyer appeal for the seller’s target market so that the property sells for top dollar and in the quickest possible time. Home stagers do this by offering services such as consultations, report recommendations, shopping services, sourcing for rentals services, installation services, hands-on staging, photography services, and professional organizing. Depending on the skills you already have, you may also be able to confidently add project management and home renovations to your business model. You can create a niche market providing the home staging services you want to offer in your area.
Home staging is a relatively inexpensive start-up business. Unless you are providing significant inventory and need to rent a warehouse, your staging business will more than likely be home-office based. You may incur a nominal rental cost if you decide to rent a small storage locker. Initially your biggest expense will be spent on your marketing tools such as creating your website and promotional materials. However, this book will introduce you to economical ways to get started with marketing your new business.
You do not need to have a background in interior design to become a successful home stager; if you have completed some interior decorating courses, professional organizing, or other industry-related training, these can be assets but are not necessary. You can be taught the business aspect of starting and running your business, which is the intention of this book.
Having taught and mentored hundreds of home stagers since 2004, I have found that the most successful home stagers have been born with the “gift” of knowing what looks great. Many closet home stagers have been helping their friends and families for years without being paid for their work.
Regardless of whether you are looking for a part-time or full-time career in home staging, this book will give you enough insight into running and operating your home staging business. It will help you determine if this is something you will feel confident doing. It is a fun and creative business to be in if it is the right one for you!
Chapter 1
Getting Started

As you have probably noticed, there are many popular television shows on home staging. The people on these shows make it look so easy and they always have so much fun! If you think this i