There are a few differing view points on creating business plans. Some people say “if you fail to prepare, prepare to fail” and advocate heavily towards creating a business plan. Others will say it’s just fluff work to keep you distracted from actual work, such as sorting inventory and cold-calling realtors.
No matter what your view on this is, it’s a good idea to quickly review what is in a home staging business plan if for nothing else but to ensure you have thought about your business thoroughly before diving in head first.
Let’s take a look at what’s generally in a business plan, and how these sections relate to home staging. You’ll find our home staging business plan PDF available for download in our resources section.
Recommend Sections in a Home Staging Business Plan
Every home staging business plan is going to follow a different format, but in general, they should all cover the same topics.
- Executive summary
- Business details
- What we do and how we do it
- Business background
- Our goal/mission
- Our strategy
- Current and planned team
- Market analysis
- Competitor analysis
- SWOT – Internal and external forces
- Marketing strategy and budget
- Assets held and planned
- Financial plan
- Business continuity planning
- Legal and regulatory compliance
All home staging business plans have a different purpose. They can be great tools to get your own thoughts down on paper to make sure you’ve considered everything before starting your home staging business. In these cases, you are the audience of your own business plan.
In other cases business plans are used to seek out new partners or investments, and in these cases, your audience is obviously other people.
Your target audience will dictate what you put in your executive summary.
Generally you’ll want to give a brief overview of the business so it becomes clear in your head. Touch on topics such as the current market, your goal, existing competitors, and a brief comment on your marketing/outreach strategy.
Since these are all topics that you’ll cover in detail later in your business plan, it is often a good idea to leave your executive summary until the end.
This section of your home staging business plan doesn’t need to much explanation – it is simply the key points of the business. Include a table with information such as:
- Business name
- Date is was established
- Legal structure of the business
- Contact name
- Contact number
- Email address
- Physical address
- Postal address
- Linkedin page
- Facebook, Twitter, and Instagram pages
- Youtube account
- Blog URL
For external readers (eg potential investors or partners) this section simply provides details of your home staging business so that they can look you up and verify they are dealing with a legit entity, and also find out more about you.
What we do and how we do it
Explain what your business actually does. You might understand home staging inside-out, but do your readers?
Briefly spend a moment (on one page) to explain:
- Who your target customers are. Are they realtors, property developers, or private individuals?
- What you actually do. Explain the service you provide
- How you do it.
- Why this service is valuable to your customers
- How you plan to be different from other home staging companies in your area
Do your best to keep this short and too the point. Each bullet point can be just a few paragraphs, or even a few sentences. This section should give the reader there “ah-ha!” moment so they can continue to the rest of the document with a good overall understanding of your plan.
Split this section of your home staging business plan into two: the business history, and the current position.
Business history: Partners and investors will want to know the background of the business, and also your own personal journey. Where have you come from, and how did you get to this point in time? Summarize where the business idea came from. Are there any major milestones in the life of the business to date? What was the initial investment? Do you have some existing staff members worth mentioning? Do you have any key clients or relationships that are bringing you regular sales?
Current position: What does the business look like today, assuming it is already established? How many locations do you have? What areas do you currently serve? How many employees are there, and how many customers on an average month? What is the current turnover of the business? Does the business owe any money? To who?
This section can be as short as one or two paragraphs. What is your vision for the business? It’s best to be precise here (look up what a SMART goal is). You might state something along the lines of “Provide exceptional home staging services in the Orlando area and grow to a business servicing 40 clients a month within 5 years”.
Notice how its a big, lofty goal? It’s not “Get a customer within 3 weeks”.
Your goal or vision in this section could be split into a goal for this year, the next three years, or even a ten year goal.
Now you’ve set your main goal for the business, what is the strategy to achieve this? Outline the main steps or jobs required to set you on the right track for achieving this goal.
Do you need to hire more people? Or reorganize your team?
Do you need to venture into another market? This could be a neighboring town or suburb, or perhaps focusing on a different section of your existing market (eg if you haven’t approached property developers yet, should you be?).
What aspects of your marketing need to change or grow to reach your goals? Can you do this yourself, or do you need a staff member, or an advertising agency?
Tip: The rest of your business plan is going to go into the explanation of each of the steps you describe here, so sometimes it’s best to leave this section till the end. Then you’ll have the answers to include on this page.
Current and planned team
Many home staging businesses start of with just the founders. They manage generating leads, writing proposals, delivery, the warehouse, the actual staging, and more.
But if you plan to grow, soon enough you’ll need to delegate some roles and consider taking on part-time or full-time staff.
When it comes to home staging, your team is one of your biggest assets. They interact directly with clients, and put their own personal style on each project they complete.
If you are planning to use your home staging business plan to find partners or raise capital, then keep in mind that many investors make their decisions based on the strength of the team and people leading the business.
Split this section into two:
- Your current team: Include their name, role title, key responsibilities, qualifications, experience, and track record within the industry. If your business is already 3 or more people, you can include a small organization chart showing how the roles all fit together.
- You planned team structure: You’ve set your business goals and long term vision – now what staff do you need in place to achieve this? Create a new organization chart showing these roles, then briefly bullet point the new role titles, and their key responsibilities.
If you find your current staff or founders don’t have any qualifications in this industry, consider taking a home staging certification course from The Home Staging Institute. They can be completed in just a few weeks of study and will help showcase that you have expertise in the field of home staging. The courses are affordable too, starting at just $177.
In this section you can also note any mentors, consultants, and advisors you are currently using, or plan to use in the future.
The market analysis section of your home staging business plan can be one of the larger sections, and often requires a fair bit of thought and research.
There are five sections that you should consider including in this part of the plan, as follows:
- Market research: Explain the research you have undertaken to build this market analysis plan. What methods have you used? Do you plan to build ongoing market research into your daily business tasks? This section is where you share how you got your market knowledge so the reader has confidence in you you are going to tell them in the next four sections.
- Market opportunity: Describe the gap in the current home staging market that you’ve recognized. Ideally you won’t be striving to be “just another home staging company” and can be more precise. For example the gap might be “We’ve found the Portland area is underserved for mid to high-end staging companies for the premium real estate market”. Then explain whether any competitors are likely to be aware of this opportunity, and are they making any attempts to enter this market? Or do you feel they are blind to this opportunity? What potential revenue does this market opportunity represent?
- Market structure: Explain where your business will fit into the current competitive landscape. Are there any inefficiencies in the current market that will give you an edge over the competitors?
- Market size & outlook: This particular section often contains a bit of guesswork. Do you best to understand the size of the market. How many homes need staging in your target area each month? How many home staging companies are currently serving this demand? Is the market saturated, and you’re going to try to take business from competitors? Or is the market underdeveloped, and you need to convince people that don’t currently use home staging services the benefits of staging their homes for sale?
Use websites such as Zillow to figure out how many homes are currently for sale in the postcodes you are targeting. What percentage of these do you feel are currently using a home staging service? This will give you an idea whether your area has demand for 50 staging jobs per month, or 500.
- Customer mindsets & behaviors: Who are your customers, and what are their current buying behaviors. If you are target realtors, how do they choose which home staging company to use? How will you target these customers so they begin using your services?
SWOT – Internal and external forces
Marketing strategy and budget
Assets held and planned
Business continuity planning
Legal and regulatory compliance
Your home staging business plan is a thorough document that outlines the long term vision of your business, and your strategy to achieve it.
It’s a document that you shouldn’t do once, then lock away to never look at again. We encourage you to revisit it monthly or quarterly to check in whether you are still on the right track, or if your goals are still relevant. Treat it as a living documents which you can edit and amend at any point in time.
Your business is always evolving, and your business plan can too!
If you want to download our home staging business plan PDF head to our resources section. You’ll find the business plan link there, along with a number of other home staging resources available for free or a small price.