Want to start a hardwood floor business

Question

My friend and I wanted to start a hardwood floor refinishing business. This would be part time to start with, in addition to our full time jobs. He actually did this under someone for a while but that was about 5 years ago. I was just wondering if there was anyone here who owns that type of business and if so what you charge a square foot and how do you like it.

Answer 1

I doubt anyone will tell you what they charge in such a public forum. But, you can figure it out. If you own a house, or know a good friend who does, get a couple estimates. I really hate to suggest you waste someones time estimating a job they won't get, but it does work. You will find that you will do ALOT of estimates and a few jobs. And trust me when I tell you, your competition will get you to estimates for them as well so they can see what you are charging. That is the nature of the beast. There alot of people out there interested in getting work done until they see the price. Sticker shock turns alot of people off from doing certain types of work on their homes.

One thing I would warn you against is trying to be the lowest price in town in order to get work. Once you develop a reputation for undercutting evreyone else, it will be hard to change that, and your long term profitability will suffer. I run a powerwashing business, and I have seen a dozen companies come in and undercut my prices only to be out of business in a couple of years. They can't stay profitable enough to make it through the lean times due to their lowballer practices. I market my service as a Premium Service. We charge some of the highest rates in the area and we not only stay profitable, we stay very busy.

Anyway, Good Luck to you!!