Business Idea 2011 Essay

Submitted By eadaugherty22
Words: 544
Pages: 3

Eric Daugherty My business idea is a home remodeling company that purchases homes that are cheaper than market value, remodeling them to meet current market trends and expectations. My business idea includes many different types of operations. First, and most important, this company would need to have employees who are well aware of current housing market trends and how to obtain affordable properties in order to “flip” them and create revenue. The company will begin with few employees. I would maintain the business functions of the business and contract out different jobs, such as: electrical, flooring, lighting, plumbing, etc. These jobs would most likely just require the hiring of one general contractor. Only HBA approved businesses will be used in this aspect of the business to ensure quality work is done to generate the highest amount of income as possible. The types of homes that would be purchased for renovation would be either foreclosed homes or homes that are run-down and in need of a dramatic change because these would come the cheapest and have the most potential for profit. This business will be located in the Mahoning Valley and will be looking throughout the valley and expand further if a good opportunity is identified outside of this vicinity. The customer that will be targeted in the beginning of this business will be small families as well as individuals who are looking to purchase their first homes. The age range these types of people fall into is 20-35. This age range is very flexible, however, and can be easily changed for whoever is looking to purchase a home of this size. Both men and women demographics will be targeted with this type of business. The income level is also a very flexible part with this variety of business. Generally, we would be looking for financially stable individuals or couples with enough credit to obtain a loan from a bank and be able to purchase these homes as fast as possible in order to move onto the next project in hopes to make more profit. As was…