How to start your own Carpet Binding business

If you are interested in getting started in the world of carpet binding we have put together a short primer to help you avoid some of the same mistakes we made starting up.

Getting Started:

In today’s world of expensive franchises it’s nice to know there are still some profitable opportunities still available to those without extensive financial backing and carpet binding is one of them.

Before you go and apply for a loan or generally get to excited about your new business try and do some basic research to see how tough your market is to enter. Generally we would recommend going through the local yellow pages just to see how many carpet stores serve your area and if any of them offer binding services or if there is a dedicated carpet binding shop in town and write all this information down.

Once you have list of potential customers and competitors call around and see what the going rate is for the various services, for example say you have a 10’ x 10’ piece of leftover carpet and you are wondering how much they charge to do the binding or in the case of a carpet retailer ask them to refer you to a binding shop.

After you have completed making these phone calls you should have a good idea of what the walk-in rates are for your area and an idea of which retailer is using which competitor. In some cases we would recommend purchasing a remnant carpet and actually visiting your competition and just asking friendly questions to get a feel for what work they do most often and if possible watch them do the work to get an idea of what machines they have and how they do various jobs.

Now that you have all your local research done it’s time to do some financial planning.

Next Page (Financial Planning)

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