Hardwood Flooring Business Plan

Hardwood Flooring Articles

Replacing carpet or tile with hardwood flooring is today’s trend in houses and offices for many reasons. First of all, wood is easy to clean and reliefs people with allergies, secondly it is an appealing alternative in terms of design. The business plan for this company will guide you in what steps to take in order to start and grow a hardwood flooring business, offering wood floor installation, refinishing, borders, inlays and dustless systems.

subway business plan

Business Model

In this business plan you will understand that all the steps and activities in the business must be analyzed to determine to assess if the most efficient processes are being used. The business has advantages in the market as any type of furnishing harmonizes well with hardwood flooring, and that wooden floors can also be dressed up with area rugs. In the business plan you will learn the skills needed for the job, where workers usually start as helpers for more experienced workers and are given simpler assignments. Clients approach the company to purchase hardwood floors but other features can follow the installation, such as regular maintenance and tile replacement.

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Market Positioning

This Hardwood Flooring Business Plan will help you position your company in the marketplace by paying attention to details, including the quality of customer services and materials, caring for quality standards to be met at all time and a high level of customer satisfaction. Positioning the business will require careful budgeting of projects, reliability in terms of accomplishing pre-established due dates and marketing to construction companies and contractors.

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Operations Plan

The service of a Hardwood Flooring company begins with a floor assessment. There is a process to be followed where whole boards may need to be replaced, and cracks might need to be filled. The steps imply: the floor being sanded and vacuumed and buffed using a super fine abrasive screen. Later, after this has been applied, the pieces are placed and left to dry. The business plan will also help you create a manual for every customer with a brief tutorial and documentation for care and maintenance of their refinished wood surface, along with procedures for installation, inventory and budget drafting.

Marketing Plan

Through the incorporation of experience and skills, the business plan will take your Hardwood Flooring company to achieve a stable growth in sales. Offering high-quality wood floor installation and refinishing services and market them effectively is a key to success. Through fair pricing, careful and detailed work and 100% customer satisfaction, your Hardwood Flooring company will quickly gain a base of loyal customers.

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Market Segmentation

A Hardwood Flooring company cuts and installs different types of wood flooring in clients’ homes or offices. For this business plan the target market will include flooring installers, home improvement designers, builders, contractors, homeowners and many others.

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Promotional Strategies

Promotional strategies in this business plan include a variety of features to make your hardwood flooring business grow fast and be known within the area. This include creating a logo, making some business cards and company shirts, setting up a web site and a portfolio with some pictures of jobs previously done for your hardwood flooring company. Also, it is important to emphasize background the company’s experience in the wood flooring industry, along with every step in necessary to make costumers feel confident about hiring your company. This may involve using social media to publicize works performed and credibility items.

Financial Projections

It is fundamental for the hardwood flooring company to price its services competitively. The business plan will teach you that homeowners will probably be looking other established flooring services and have different contractors’ prices to compare. All the factors you need to be aware in order to set your prices will be explained in the business plan; these include the materials for the job, the cost of the installation, among others. These elements will outline your projected financial statements for the upcoming years.

revenue projections

Revenue Assumptions

The majority of the revenues for hardwood flooring companies com from selling entire projects, along with maintenance jobs. On the other hand, in some cases, the sale of materials for DYI projects will also create revenue opportunities for the business.

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Projecting Expenses

For this business plan the main expenses are also considered and they focus on finding a suitable space in a business district for both offices and a warehouse. They also include the purchase of the required tools and equipment, employee training and advertising.

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