How To Start A Home Building Business in
Maine
Wondering how to start a home building business in Maine? Looking to start a home builder business? Nate Jones Entrepreneur is here to help you with a free home building business plan below. Starting your custom home building business in Maine the correct way is important.
How much does it cost to start a home building business?
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$20,000 Marketing (Online, Physical, Mailers, Conferences, etc.)
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$500 - Website and Social Media Creation
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$10,000 - Home Blueprints
- $5,000 - Insurance - If you need insurance, reach out to Wexford Insurance. wexfordins.com they work with numerous home builders.
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TOTAL START UP COST: $35,500
How much money can you make building a custom home with a home building business?
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Average Gross Profit Per House: 20% - Average Net Income: 10%
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Average Custom House Price: $700,000
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Average Profit Per House: $140,000 - Net Income: $70,000
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Average Home Construction Time: 10-12 months
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TOTAL REVENUE: $840,000 a year.
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6 Houses a Year: Profit = $840,000 - Net Income: $420,000 a year.
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Are Custom Home Builder Businesses Profitable?
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Yes, if you can accurately project your raw material costs, fixed costs, and payments to subcontractors, you can easily profit 20% of the cost to build the house.
Positives of a Home Builder Business
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This business is semi-passive. If you subcontract out 100% of the work, you will just need to routinely check up on the job site for action items being completed.
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This business does not require a ton of employees since you are subcontracting a lot of the work out.
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If planned correctly, this business should always be profitable.
How do you get home building jobs?
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Create a website with SEO (Search Engine Optimization) and post on social media apps.
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Network with local realtors, home shows, contractors, community leaders etc.
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Sign up with Contractor Back Office (contractorbackoffice.com) to get leads for home building jobs.
How to Start a Home Building Business
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Save up money for expenses and down payments.
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Form your LLC with the Federal Government and Local Government
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Create your website and social media pages
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Purchase Insurance
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Find a Lawyer to draft your customer service contract
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Implement local marketing.
Portland - Lewiston - Bangor - South Portland - Auburn - Scarborough
Need Help Finding a Business Idea?
Download my
E-Book
Are you wanting to start a business but don't know which one or where to even look? Great news, I have done the hard work for you. In this book, you will learn the following:
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How to find a business idea that fits your lifestyle.
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How to uncover business ideas that no one else is starting.
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How to potentially buy your first business instead of starting one.
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How to start your business and set it up to succeed.
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How to scale your business so you have a life.
Looking for a Business Idea?
Are you looking for a business idea? Want to be an entrepreneur but don't know what business to start? This course, Business Idea Blueprint is for you! In this course I will help you find a business idea there is actually an opportunity in. Also, I will help you determine which business is right for you and how to get it off the ground and running!