What to Know Before Starting a Waterproofing Business

Business Overview:

Starting a waterproofing business can be a recession-proof, profitable, and easy to start business idea for construction-minded entrepreneurs. The fact is that no one can afford a leaky home, so homeowners who might not be in the market to spend for cosmetic improvements to their homes will still need to maintain the basic structure of their investments—and that’s where your business comes in. As a waterproofing business, you or your employees will assess the homeowner’s situation—usually a leaky foundation—and provide an estimate for the work needed to repair and waterproof the structure. Basic fixes include filling cracks to seal off leaks, but the repairs—and your service menu—can be much more extensive than that, especially if you’ve got the know-how and the tools to solve bigger waterproofing issues. If your price is competitive, your work guaranteed, and your company professional, you will likely sell many of the customers you provide estimates for. If you are not an expert in construction or waterproofing in particular, you can still start this business easily by recruiting skilled employees to work for or with you. In addition to getting experience and experienced workers, you will also need a reliable vehicle that can transport your tools and even do double duty as a moving advertisement for your company. Finally, you will want to have a small home office with basic equipment so that you can receive messages from potential clients while you’re out working, print service contracts on an inkjet or laser printer, and possibly even set up a website for your business. A basic financial-tracking software program will help you keep your finances organized. If this sounds like a doable business idea for you, read on to learn just what you’ll need to get your business off the ground.

A Day in the Life of a Waterproofing Business Owner:

This article brought to you by Business Ideas! If you enjoyed this article, make sure to subscribe to the Business Ideas Newsletter to get ideas sent straight to your email inbox.When you check in at your home office first thing in the morning, you’ll want to note the jobs you have scheduled for the day. Having clear directions to the homes plus the service contracts all ready to be signed will be first on your to do list. Next you’ll want to check your voicemail to ensure there are no potential customers waiting for a response from you or requesting an estimate from your company. Tackling these messages will be next on your list. Then it’s out to your work van where you will want to ensure your vehicle is clean and your business logo is easily seen to attract potential customers. Verifying you have all the tools and equipment you need for the day’s work comes next, followed by a quick call to your employees to ensure you’re all on the same page. If you’re also involved in the labor, you will want to get to your customer’s house ready to work; if not, make an appearance while your employees do the waterproofing. When the job is complete, you will want to be there to make sure your customer is satisfied, to collect payment, and to sign off on the service contracts. Back in your home office, you will want to log on for a quick check of your finances and a glance at your calendar to see what’s in store for you the following day.

About Your Customers:

Customers of a waterproofing business are likely homeowners who have discovered a compromised foundation that needs repair. They may have a serious flooding situation that requires clean-up or just some cracking that needs sealing. Depending on how extensive your service menu is, you can provide basic waterproofing needs or full-service clean-up, waterproofing, and air-quality control. Of course, the more you offer the greater revenue you stand to make, though you’ll need to make sure you and your employees have the know-how to complete the job. Customers will likely be looking for a competitive price but will also want to feel they can trust your company and that you stand behind your work with a 100 percent guarantee.

What You Need to Start:

• Business license, permit, and insurance
• Working knowledge of waterproofing techniques, or employees who are experts
• A reliable work vehicle
• Tools and equipment for waterproofing
• A small home office
• Financial-tracking software
• Advertising techniques

The Good:

• You can begin a waterproofing business with a small investment and operate it on a part-time schedule.
• You don’t have necessarily have to know how to do the waterproofing yourself if you hire reliable employees to do the work for your business.
• The business is recession-proof and lucrative, especially if you offer a variety of waterproofing services.
• Though you’ll need to do some basic advertising, much of your future work can come from referrals from satisfied customers.
• The business is entirely scalable.

The Bad:

• If you are not the laborer, you will need to rely on your employees to keep your business afloat.
• You should check out the competition in your area before opening your business; a glut of waterproofing businesses may not bode well for a new startup.

Resources:

• National Association for Waterproofing and Structural Repair Contractors
• Waterproofing Contractors Association
• Wikipedia on Waterproofing

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