A SINGLE-MUM has revealed how she runs a business bringing in £1.5million a year – and anyone can do it as you don’t need a degree or official qualifications.
Liv Conlon has honed her interior design skills though and banks some serious cash by styling properties to increase the chances of landing a sale – even helping out celebs.
Liv ConlonA mum has revealed how she earns £1.5million a year in a job that anyone can do[/caption]
Liv ConlonLiv is the single mum of six-month-old Cash[/caption]
Liv ConlonLiv stages properties so they’re ready to sell[/caption]
The 25-year-old who runs her own companies ThePropertyStagers and StagerBoss, rakes in as much as £300,000 for a single job.
Home staging is a US trend that viewers of reality show Selling Sunset are likely to be familiar with.
People looking to sell their homes are willing to fork out some extra cash to style the property, increasing the likelihood of a sale or the price they get – or both.
Demand is growing in the UK, often among wealthier people who have money to spend.
Liv kickstarted the business back in 2015 after leaving school, helping her mother, Ali, 57, stage a property that she’d bought at auction and was trying to sell.
While an estate agent had suggested dropping the asking price, Liv instead suggested staging, which she’d heard about from property investment courses.
But they struggled to find one.
“I was aware of staging but I realised the rest of the UK hadn’t heard of it,” Liv told The Sun about spotting the opportunity.
“I asked my mum for the budget, and I staged the property myself.
“The results spoke for themselves and quickly silenced the ‘price dropping’ agent.”
Despite no direct experience in interiors, the mum-of-one picked up her eye for style as a child when she was dragged around home decor shops and was a regular viewer of home renovation shows.
Liv presented the open-plan kitchen as a dual living space, freeing up another room that was presented as a second bedroom, which can add serious value to a property.
Within three days it was snapped up for £5,000 above the asking price.
By 2017 Liv’s home staging company was worth £1million and people began asking how she had achieved it.
After being inundated with messages on social media, she decided to launch a second business, StagerBoss, to help others get into the business of staging.
She’s now helped stage and sell 2,500 properties, including one in Forest Row, in Sussex, owned by a member of Led Zeppelin.
How much Liv makes depends on the job.
In the early days, she was paid £995 for presenting a one-bed flat. But she has earned as much as £300,000 styling a block of 169 apartments.
The entrepreneur was even tasked by a property developer with helping show a former prison in Liverpool which had been converted into apartments.
“It was incredible,” Liv said. “Each apartment was unique with exposed brick walls and there were even bars still on the windows.”
The length of each job can vary too, from a couple of hours to a full 24 hours to style the home.
She agrees to a set fee upfront for staging the “kit”, usually for a period of six weeks.
A kit is usually made up of all the items needed to stage a house, including furniture, artwork, accessories, soft furnishings and cushions.
The kit is hers, but can be used again and again.
Once the property sells, Liv moves the items to another client’s property.
“It’s a logistically challenging business due to consistently moving the kits, it’s very fast-paced,” she explained.
Liv says you can rent a kit around eight times per year based on six-week rental periods and time to turn them around in between.
Her business now makes anything between £1.2million to £1.5million in revenue per year.
How you can make big bucks from home staging
When it comes to getting started in the property staging biz, Liv has revealed her top tips.
While you don’t need a degree or qualifications to run a homestaging business, Liv says you do need an eye for design and a good work ethic.
Not only that, but she says communication skills and a high-stress level are key.
Other than that she reckons you need very little to get started and find clients.
She managed to get to a seven-figure turnover without forking out for advertisements.
Instead, she says it’s important to build yourself a brand on social media and showcase your expertise.
She explained if you’re starting your own business with your own funds, with the first property you stage, you can use the client’s upfront payment to purchase your first kit.
Given the client is only renting the kit for six weeks, you now own this kit to stage other properties and can keep doing so.
Liv explained: “The earning capacity is limitless.
“If you’re looking to replace the average UK salary, around £31.5k, you would only need to stage one to two properties per month to replace that.”
She has also revealed her key do’s and don’ts of home staging if you fancy giving it a go.
Do’s:
Think of the end user and style the property accordingly
Use mirrors to make rooms look bigger
Use double beds in all bedrooms if possible
Use darker pieces of furniture and splashes of colour
Don’ts:
Used oversized furniture
Implement your own taste
Clutter the property
Of course, if you are looking to start a homestaging business you do need to bear in mind some of the risks.
The costs of actually running the business could end up being pretty high, these are for services like moving furniture, storing it and maintaining it.
You also need to make sure you’re sensible with the cash, especially if you get paid after the job is done.
You don’t want to go crazy overspending on homeware and furniture before you’ve actually been paid.
It’s really important to note that a property might not sell right away so you might not be able to move on to your next job as quickly.
Your money might be tied up in this before you break even, and you’re not always guaranteed work
Although Liv did point out that you can extend the staging period until the home does sell.
Also make sure you have a clear and legally-sound contract drawn up to make sure you do get paid at the end of the job.
What to bear in mind if you’re setting up a business
If you’re thinking about starting your own business, whatever it may be, there are some things to consider.
You’ll likely be working long hours and weekends too, particularly at the beginning.
It’s also important to bear in mind that for some periods you might be dealing with an irregular income.
Perhaps most importantly, you’ll have to do your own bookkeeping and tax return.
If you’re thinking of setting up your own business, you’ll also need to register for Self Assessment to pay your own taxes.
If you have a turnover of more than £85,000, you’ll need to keep digital tax records and submit VAT returns using HMRC’s Making Tax Digital system.
If you’re VAT registered, you’ll need to charge VAT on the goods and services you supply.
However, you can claim back VAT you pay for goods or services relating to your business.
Do note as well that you’ll have limited or no access to employment benefits, such as paid leave or sick pay.
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