Are you considering becoming a professional home stager? You have done your research and met other professionals in the field of home design and real estate. Now what? Before you jump right into building your home staging business, you must first have a plan. It will help you stay on track and focus on your business goals.
A business plan will help you put your business goals and strategies on paper. Whether you’re writing a detailed formal business plan to submit to your loan officer, or it’s just notes and reminders you jotted down in a notebook, a business plan will help your business thrive in the long run. . Below are the main parts of a business plan. You can omit some of these parts if you are not writing specifically to request funding.
It comes first, but you have to write it last. After all, it’s hard for you to write a summary of something you haven’t even written. This should contain all the important points of your business plan, but remember to keep it short, understandable, and to the point for potential investors who are too busy to read the entire document.
2. Description of the business.
This includes a description of the nature of your home staging business, how you plan to start your business, a profile of the business owners, the location of your business headquarters (can be your home or a small office) and facilities owned by your company.
3. Home Staging Services.
It is important that potential investors understand the types of services you are selling. Specify if you only offer consulting services or if you also provide other home staging services such as furniture design and rental. Also identify the competitive advantage of your services over other home staging services already available.
4. Market analysis.
This section requires you to do a bit of market research. Focus on describing your market and the current demand for home staging. Remember to include an assessment of your competition. This will help you decide what marketing strategies to take when you start selling your services.
5. Marketing strategies.
It is an essential part of the formal business plan. This section describes how you will promote your business, the costs of your marketing strategies, and how you will determine if these strategies have been effective.
6. Financial data.
If you are still planning to open your home staging business, this section includes your projected short and long term profits. For formal business plans, you may need to enlist the help of an accountant to draft this part.