Starting a Home Staging Business – 5 Essential Truths You Need to Know Before Taking the Plunge
A home staging business can be a really good thing. I know…my staging business is in the 4th year of grossing $100,000+. Pretty cool.
Like any business, it didn’t just happen. Not without a LOT of time, effort, investment, marketing, mistakes, and other hurdles.
So I’m going to give you some pointers about starting a home staging business, BEFORE you get started. (Well, I hope you’re reading this before you take the plunge, but if not…it’s never too late to learn).
After reading these words of wisdom, the decision is up to you, of course. I just hope that I can help you make the right decision for YOU.
Okay, down to business. I’m going to share some important truths that I learned the hard way.
Essential Truths About Starting a Home Staging Business
1. A home staging business, like any other entrepreneurial venture, is risky.
There is no guarantee that you will be successful, no matter how much you LOVE to decorate, how much your friends tell you that you have such talent, no matter how much you want to do well.
No, it’s definitely a risk that takes time to develop, nurture and grow. This doesn’t mean that you have to throw in the towel before you ever start your venture, you just need to enter into this business with your eyes open and your timetable realistic.
2. It takes some money to start up a home staging business, no two ways about it.
Having a dream and a prayer just won’t cut it. You need to have some staging inventory, some marketing funds and a way to meet your personal budget while your business is getting off the ground.
How much money do you need? Well, that is up to you, your financial obligations, the area in which you live, the competition, and how long it takes you to get on your feet.
I would recommend that you have about six months of cushion for your personal financial obligations, at a minimum. If you have a spouse or partner who can help with ongoing expenses, that’s a big help.
3. The home staging industry does not have a long history, so there are no “tried and true” parameters for you to use to jump start your business.
It would be great if you could use the proven data gathered over the years and say, “if I do this, and this, and this, I’ll know that my home staging business will succeed.” Nope.
Home Staging is an emerging industry.
Most home stagers have developed their own methods for:
- pricing jobs (a HUGE question from every new stager),
- determining how much inventory to retain vs. how much to rent (another hurdle),
- which type of home staging works best for them…vacant?…occupied?…new construction?…luxury?…
No set answers for you, my friend. Not insurmountable, of course, but you need to know that you’re charting your own course here.
4. A love of home decorating is not enough to succeed in the home staging industry.
Does that passion help? Of course.
How cool is it to be able to earn a living doing something you love to do? I am grateful to the Lord every day that I can live out my passion for decorating through my home staging business and pay the bills, plus enjoy a comfortable life.
But, this is a business, with all of the moving parts.
- the business itself, which needs to be established, developed and tracked,
- the marketing of the business so you can acquire some clients who will pay you,
- the accounting side of the business, to keep track of all of the legalities,
- the payment side of the business, so clients can pay their bills,
…lots of territory to cover.
Each one of these essential components is a lesson in itself. I am just briefly mentioning them here, to give you food for thought. And no, you don’t have to have ALL the answers right here, right now. But you DO need to be aware of the components of a successful home staging business.
5. A staging designation or certification is very helpful, but your success is not guaranteed by the amount of money that you put into the training program you select.
Don’t get me wrong. Training is very helpful, and there are some great programs, seminars and certifications out there. Just be aware that no matter how much money you pay, how many promises the author or presenter makes, the bottom line is that it’s up to YOU to be successful.
Do you have the drive, the tenacity, the willingness to go above and beyond for your home staging business? Can you accept the disappointment of the No’s and persevere until you get to the Yes’s and the new clients?
So What’s the Conclusion?
Ultimately, only you can determine if starting a Home Staging business is the right decision. And as they say, “you’ll never know if you don’t try”.
Just make sure that you have considered all of the pro’s, con’s and realities of this type of entrepreneurship before taking the plunge. And if you do, I wish you success!