Business OverviewCapitalize on your carpentry and construction skills and cash in on the ever growing multibillion-dollar home improvement industry by starting your own renovation service. Small additions, basement remodels, carport conversions, painting and drywall, fencing, siding, and general cosmetic changes all fall under the umbrella of home renovations. You can keep your start-up costs to a minimum by renting more expensive tools and equipment on an as-needed basis, and buy these items from the profits you earn. You will need to brush up on your estimating skills, so calling other renovation contractors in you area and asking about costs for the various improvement service they offer is a good way to get handle on the competition's pricing. Skills that you may lack can be contracted out to qualified tradespeople, especially the more specialized work like tile flooring, electrical and plumbing, and insulating. Quality workmanship and reliability are essential to prosper in this industry, as it is not uncommon for top renovation companies to do strictly repeat and referral business, without the aid of any advertising.