Home Repair Business Plan

The business that I plan to start up, Ace Home Repairs, is a recession-proof business that will provide profits quickly and continue to grow. In my local area, there are never enough home repair contractors, and customers often have to wait a week or more for service. I plan to start my business up as a sole proprietorship because that structure carries some helpful benefits with it. I can start the business with less capital, since I will not need a lawyer to establish a sole proprietorship, and handling money will be much easier as well, because I will not need to set up a payroll system (Zahorsky, 2008). All I will need is a separate bank account so that I can keep my business and personal funds separate (Zahorsky, 2008). After the business gets under way and becomes successful, I will likely choose to incorporate it to overcome the disadvantages associated with a sole proprietorship, however, such as personal liability for debts and the company's actions and the less stringent financial controls (Zahorsky, 2008). In addition, I would like to have a partner to share the burden of decision-making with, and a corporation will be easier to raise capital for than a sole proprietorship (Zahorsky, 2008).

The services that my company will provide include house repairs on items such as roofing, plumbing, garage doors, and siding. These are services that consumers need year-round, and the worse the economy, the more likely that they will seek repairs rather t

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Category: Business - H