Home staging is an art that few people truly appreciate. When someone steps into a prospective home and finds everything arranged immaculately and tastefully, someone has poured their heart and soul into that effort.
These professionals are known as home stagers, and you could become one by launching your own home staging business. So, how do you build a successful home staging business? Here’s what you need to know to hit the ground running and thrive as a home stager from day one.
Research Your Market
Before entering the home staging industry, research the real estate market and existing staging companies to determine whether such a business would be viable. A successful home staging business requires a steady supply of properties in need of interior design and furniture.
Fortunately, home staging businesses typically remain profitable even when the real estate market slows. Still, market research proves beneficial since you’ll discover what buyers seek in new homes and can tailor your staging efforts accordingly.
Network With Real Estate Agents
Most importantly, begin networking with real estate agents and staging professionals before landing your first client. Real estate agents will become one of your most valuable sources of business.
They can refer clients with staging projects who might hire you to stage homes and improve their selling prospects. Meanwhile, experienced home stagers can share valuable insights, from target market strategies and startup costs to client acquisition techniques.
Attend real estate networking events, conferences, and homeowners association meetings. Wherever real estate agents hunt for new properties is where you should be, too. Exchange contact information at every opportunity.
Build a Business Plan and Figure Out Your Finances
Like most successful small businesses, develop a comprehensive business plan before launching your home staging enterprise. This involves creating a budget and determining how much capital you need to secure resources and materials.
Often, the homes you’ll stage won’t have the furniture or accessories needed to look fantastic. You may need to rent or purchase furniture, requiring you to save money beforehand or secure a business loan.
Additionally, you might need contractors like painters, electricians, or handypersons to improve properties. You can employ these professionals directly, but it depends on how comprehensive you want your staging business to be and what services your real estate partners provide.
Consider Education
A home staging business’s success depends heavily on the owner’s interior design and decorating expertise. Natural talent and passion for interior design might suffice, but consider formal education in interior design or related aesthetic disciplines. This training will provide the skills needed to make your staged homes stand out in the market.
Make a Portfolio for Your Home Staging Business
Creating a portfolio is crucial for attracting new clients and demonstrating your capabilities to potential buyers. If you lack previous staging experience, redesign your own home multiple times to build an initial portfolio.
You need concrete evidence of your staging effectiveness before convincing real estate agents or customers you’re the right choice. As you gain clients, stage homes successfully, and generate revenue, photograph your work and expand your portfolio accordingly.
Create Your Home Staging Business
Establishing a staging business follows the same process as virtually any new venture. You’ll need to:
- Choose a business name that’s memorable, concise, and clearly indicates your purpose.
- Determine your legal business structure (LLC, sole proprietorship, etc.)
- Obtain your business license from your state government
- Open a business bank account and secure financing through loans or credit cards
- Get an EIN (employer identification number)
- Secure storage space if you plan to purchase large furniture
- Hire employees
Get Business Insurance
This is especially important if you plan to hire employees, requiring workers’ compensation insurance. However, securing business insurance, particularly liability coverage, is always wise to protect against lawsuits or legal complications.
Come Up With a Contract Template
Develop a standardized contract template for your staging agreements. This allows you to establish new client relationships quickly and efficiently, adjusting pricing or terms without redrafting contracts for repeat business.
Market Your Home Staging Successes
Your business won’t succeed without aggressive marketing!
A Website Is Key
Today, a professional website for your home staging business is essential. This website should be visually appealing (since staging businesses depend on aesthetic appeal) and feature easy portfolio access.
Invest in an image-heavy website that shows home sellers exactly what you deliver. Use your website to onboard new clients or accept job inquiries quickly and remotely. Additionally, leverage digital marketing to increase your company’s online visibility among potential customers.
Have a Brochure
Consider creating a physical brochure showcasing your services, pricing, and additional photos of decorated homes. This provides tangible proof of your talents and can be distributed in real-world settings.
Business Cards
Business cards offer another effective, low-effort marketing tool. Create thousands and distribute them whenever appropriate, especially at real estate networking events.
Get creative by placing business cards within staged homes. If visitors appreciate what they see, they might take your card and consider hiring you for their own real estate projects!
Start Staging Homes!
You now understand exactly what it takes to launch your home staging business. If you have an eye for design, home staging might be the perfect career for you. Moreover, if you ever want to expand into other industries like rental properties, real estate, or party planning, your staging expertise will prove invaluable. You’ll already know how to arrange properties or venues to look stunning.
Now all that remains is to market your business aggressively and secure contracts. Good luck, and remember to keep your portfolio updated as your business flourishes!
