How to Start a Home Decorator Business

Start a home decorator business by following these 10 steps:

1. Plan your Home Decorator Business
2. Form your Home Decorator Business into a Legal Entity
3. Register your Home Decorator Business for Taxes
4. Open a Business Bank Account & Credit Card
5. Set up Accounting for your Home Decorator Business
6. Get the Necessary Permits & Licenses for your Home Decorator Business
7. Get Home Decorator Business Insurance
8. Define your Home Decorator Business Brand
9. Create your Home Decorator Business Website
10. Set up your Business Phone System

We have put together this simple guide to starting your home decorator business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out othersmall business ideas.

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

• What will you name your business?
• What are the startup and ongoing costs?
• Who is your target market?
• How much can you charge customers?

Luckily we have done a lot of this research for you.

What will you name your business?

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit ourHow to Name a Businessguide or get help brainstorming a name with ourHome Decorator Business Name Generator

If you operate asole proprietorship, you might want to operate under a business name other than your own name. Visit ourDBAguide to learn more.

Whenregistering a business name, we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability.

It's very important to secure your domain name before someone else does.

What are the costs involved in opening a home decorator business?

Because a decorator relies primarily on selling their time, the costs can be minimal to get going. Owners should have a professional website showcasing their work — even if it’s just simulated images on a basic computer program. A good website can cost a few hundred dollars per year if the decorator designs the site themselves. They should have business cards and a physical portfolio to show their clients. Finally, decorators will need some type of commercial insurance to protect themselves in case they make a mistake in their client’s homes (e.g., moving a piece of furniture and accidentally breaking an expensive vase.) Decorators can work from their home to maximize initial profits.

What are the ongoing expenses for a home decorator business?

Expenses for a decorator include insurance, website upkeep, employee salaries, and the rent or mortgage for their office space (if applicable).

Who is the target market?

Upper and middle-class homeowners will likely be the primary target. Home decorators are highly coveted by many people, but high rates can sometimes make them an underutilized profession for those without substantial incomes.

How does a home decorator business make money?

Home decorators typically charge people for their professional advice and efforts either by the hour or by the room.

How much can you charge customers?

Home decorators charge based on their experience and reputation. To simply spruce up a room and give a few final touches, they may charge $100 for an hour or two worth of work. For a complete redesign, they may charge $500 for a full day. Established decorators may charge much more than this — especially if they specialize in finding inexpensive furniture or in restoring old pieces.

How much profit can a home decorator business make?

家庭装饰有很高的利润率,所以pay can be quite substantial. If a decorator has 200 clients in a year at an average of $400 per client, they’ll make about $650,000 per year, assuming their business expenses run around $15,000 a year.

How can you make your business more profitable?

修饰符可以考虑成为室内设计师s if the demand is high enough in their area. This will mean more schooling and official certification, but the rates a designer can charge will be higher than that of a decorator. Or they can consider adding one-off services to clients, such as furniture restoration.

STEP 2: Form a legal entity

The most commonbusiness structuretypes are thesole proprietorship,partnership,118bet金博宝 , andcorporation.

Establishing a legal business entity such as anLLCorcorporationprotects you from being held personally liable if your home decorator business is sued.

You can金宝搏188是什么公司yourself and pay only the minimal stateLLC costsor hire one of the118金宝app for a small, additional fee.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

There are specific state taxes that might apply to your business. Learn more aboutstate sales taxand franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to aspiercing your corporate veil.

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Get a business credit card

Getting abusiness credit cardhelps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history, which can be useful to raise money later on.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with ourLLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate a home decorator business. Learn more about licensing requirements in your state by visitingSBA’s reference to state licenses and permits.

Certificate of Occupancy

A home decorator business is generally run out of a home or small storefront. Businesses operating out of a physical location typically require aCertificate of Occupancy(CO). A CO confirms that all building codes, zoning laws and government regulations have been met.

• If you plan to lease a location:
• It is generally the landlord’s responsibility to obtain a CO.
• Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a home decorator business.
• After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening,it is recommendedto include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
• If you plan to purchase or build a location:
• You will be responsible for obtaining a valid CO from a local government authority.
• Review all building codes and zoning requirements for your business’ location to ensure your home decorator business will be in compliance and able to obtain a CO.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully.Business Insuranceprotects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face,begin withGeneral Liability Insurance. This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need isWorkers’ Compensation Insurance. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

Is this Business Right For You?

This business is excellent for someone who appreciates how and why different pieces work in different rooms. Decorators need to be creative and flexible, shifting their perspective based on both the physical characteristics of the room and the wishes of their clients. They should enjoy working with people, as they’ll need to understand a client’s personality before suggesting patterns or arrangements for them.

What happens during a typical day at a home decorator business?

Decorators will spend the majority of their time going through different options for the many rooms they’ll plan. However, they’ll also need to make time for client consultations, marketing efforts, and invoicing matters.

What are some skills and experiences that will help you build a successful home decorator business?

Decorators need to be creative and thoroughly in-tune with the basic elements of design. It’s not necessary to have formal education, unlike in the case of an interior designer, but it may help to take a few classes to get a better handle on how function meets form.

What is the growth potential for a home decorator business?

Growth potential can be staggering for the right home decorator. Even the most modest of homes can benefit from a decorator's critical and creative eye, and because trends change often enough, even home decorators entering a saturated market may find they can grow their business quickly with a little ingenuity.