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SME Design
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Hello Nick,
I can report on my experience with a couple of clients in this niche but one in particular. This client of mine previously performed all home renos and handyman work.
He now focuses on Bathrooms and will do Laundry at the same time.
Why? Higher margin and focus on these specialist areas.

I will answer based on my clients experience not my opinions.

My client has 3-6 months work ahead of him. All work is from his high ranking website and word of mouth.
He did advertise, but when the website started ranking number one for the major searches, further advertising was not required.
We focused on his experience of 20 years as a carpenter specialising in renos.

No showroom required.

The website has copy such as
Saving You Money – Low Overheads
Another thing I can tell you is that our overhead costs are kept low. We accomplish this in a couple of ways.
First, we don’t have a huge warehouse with a giant showroom displaying millions of dollars of inventory to impress you. The savings from that gets passed on to you.

Our reputation and that of the exceptional products we use on my bathroom renovation projects allows me to pass even more savings on to you.
Consult directly with the proprietor.

How would I take the business from ‘building contractor’ mode, to ‘management of renovations’

I would suggest expanding slowly and have a look at how the building companies do it.
You would slowly become less “on the Tools” over time.