Starting and Running a Successful Basement Waterproofing Company

Understand the industry

In any industry, before starting it is important to understand how the industry works. Understanding the wet basement repairs industry means first understanding the basic requirements of entry in the business. In most countries and states, the requirements are a basic qualification, like a degree or diploma. Depending on the area, one might be required to have passed a qualification exam to be certified.

Money matters:

Research shows that most startup businesses close up after the first year in business. This is because many people are focused on the money and not enough on the various possibilities they might encounter. The amount of success the startup will experience depends on the amount of market research they conduct. Successful wet basement contractors create sound business models, which they then vet thoroughly. Assess the key factors that could improve the success factor of the business or pose risks to it.

Funding:

Another one of the biggest sources of failure is funding. The sources of funding have to be clearly outlined before the start of the business. Funding has to be steady before the business generates enough revenue to stand on its own and pay its debts. Funding options include banks, which will require a sound business plan and some guarantors. Angel investors can come in and support the business idea if it is strong enough. An entrepreneur might also seek help from friends and relatives.

Specialization:

There are different areas even in the wet basement waterproofing industry. for the beginner, it might be prudent if they started small, specializing in a particular area before expanding to a more wholesome contracting company. Small wet basement contractors could start with interior basement waterproofing services, for instance, before expanding into a company that offers the full range of exterior and interior waterproofing and landscaping and excavation.

Leverage local networks:

A clear understanding of one’s preferred business model is important even as they formulate a strategy. There are four major business model options available, a trust, partnership, sole proprietorship and company. Before deciding which way to go, it is important to understand the local landscape and to understand the target market and other competitors in the region. Few businesses prosper without marketing. The role of marketing is to let the target market know about the services offered. A strong local marketing network combined with quality service delivery sets the business up for a continued recommendation through word of mouth marketing. Set up a referral network with related companies and advertise in print, television, radio and online.

The Unwritten Rules of Wet Basement Waterproofing

That a wet basement is unpleasant and uncomfortable is a gross understatement. For many homeowners, a wet basement is one of the biggest nightmares one could face, especially if they use it as a storage apace for valuables or as a family room. Homeowners will often want to deal with the wet basement problem as fast as possible, and rightly so. Even then, it is important to keep the following rules in mind before beginning the process.

Research:

The more information one has about the problem and the possible solutions, the easier and more effective the wet basement waterproofing exercise will go. There are three major methods of waterproofing basements, using interior sealants, exterior waterproofing and drainage. Every home and wet basement situation is different, so it is important to understand exactly what the problem is before choosing an appropriate solution.

Temporary Solutions:

Be wary of solutions that seem too good to be true. The simplest solutions are normally temporary ones. The market is full of numerous wet basement waterproofing companies, each offering solutions they claim to be the best in the market. One will likely be bombarded with advertisements and sales pitches each trying to outdo the other, make sure whatever method is chosen is one that lasts long and is effective.

Ignoring the Problem:

Sometimes, the source of the leak or the amount of water seepage might be too little or seasonal. Given the amount of effort involved in the typical wet basement waterproofing exercise, most people end up ignoring the leak or postponing it. It may seem small and insignificant, but remember even the biggest problems often start small. Deal with the interior cracks and leaks before they develop into much larger issues. It might seem expensive now, but in the long run it ends up even saving the homeowner some money.

Gutters and Downspouts:

It seems unlikely, but one of the most common sources of wet basement problems is the gutters. Backed up gutters do not work as efficiently, and instead of ferrying rainwater to the areas of the home where there is proper drainage, they dump the water along the edges of the house. This accumulation of water eventually leads to so much hydrostatic pressure that the concrete on the walls of the basement begin to crack and let in the soil water from the exterior of the basement.

Additionally, do not allow downspouts to direct rainwater around the home’s foundation. Most of the time, it is not only the internal waterproofing that matters, but also the external.