Damage Restoration Service

Start-up cost: $15,000–$20,000

Potential earnings: $40,000–$65,000

Typical fees: Varied according to damage; can be as little as $500 and as much as several thousand

Advertising: Yellow Pages, coupon books, networking with Realtors and contractors, possibly a Web site with a photo gallery featuring “before” and “after” photos of your best restoration work

Qualifications: Should have extensive knowledge about building structure and repair and codes and regulations regarding hazardous chemicals

Equipment needed: A complete set of tools, painting/wallpapering equipment, varnishes and woodworking equipment, special solvents for cleaning up waste byproducts, computer and cell phone

Staff required: No

Hidden costs: Insurance

What You Do

When a hurricane or other natural disaster strikes, any kind of professional who can fix homes or offices is called in to assess the damage, create an estimate, and work with insurance companies to get the job done. A damage restoration service is just one of the many services that can help fix the havoc that nature wreaked on a property. But it doesn’t need to be a major natural disaster for your services to be called upon; more often than not, a fire or severe storm warrants repair work. Both fire and flood can cause structural damage to a building, but they can also ruin floors and walls. As a damage repair service professional, you’ll spend the majority of your time fixing walls, ceilings, and floors, so you’ll need to be familiar with every kind of chemical that cleans, repairs, or restores such surfaces. If peeling paint and waterlogged walls are up your alley, you’ll enjoy each of the projects that comes your way. One thing is certain: this kind of work is never without its challenges.

What You Need

The smartest thing you can do is lease your equipment (and possibly even your tools) until you’re sure of enough business to cover expenses. Leasing can cost you between $150–$300 per month, as opposed to a large initial outlay of cash ($10,000 or more) for repair equipment. Your charges will depend on the extent of damage done to the building; some repair jobs bill at a mere $500, while others is $1,500–$80,000.

Keys to Success

This business can be quite lucrative if you’re in a hurricane- or tornado-prone area, but sporadic in other areas of the country. You might consider adding on related services, such as wallpaper installation or faux finishes, to keep the money rolling in.