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Business of Home Staging is the podcast for aspiring home stagers and entrepreneurs in any field looking to grow and scale their businesses. Hosted by Joké Durojaiye, a Small Business Consultant, Business Coach, and Mentor with extensive experience as a Real Estate Broker. Joké is an award-winning home staging expert, a Director on the National Board of the Real Estate Staging Association, a Licensed Real Estate Instructor, and three-time nominee for the Most Influential People in Real Estate Staging.
Whether you're in the industry or just curious about what goes on behind the scenes of a home staging business, this podcast delivers practical, field-tested lessons from a fully functioning small business. It offers proven methods to build a thriving business in any industry. The business insights, personal stories, mindset, check and strategies in this podcast applies to most small businesses.
Each episode is packed with no-nonsense, actionable tips on attracting clients, streamlining your staging processes, and boosting profitability. Whether you're dreaming about starting your own home staging business, preparing to launch, or are a seasoned pro ready to scale, you'll find proven strategies and inspiring, candid conversations designed to fast-track your success.
This is not a get-rich-quick business. If you are ready to roll up your sleeves and get things done, tune in to turn your creativity into a profitable reality!
Business of Home Staging LLC does not guarantee any specific results and is not responsible for any losses incurred from the use of the information provided in this podcast. The content shared is based on the author's experiences and personal insights. Neither the company nor the author offers financial, tax, legal, or professional advice. Listeners are advised to conduct their own research and seek guidance from a qualified accountant, financial advisor, attorney and other professional.
Today, let's talk about the 5 strategies that make a huge difference in managing the seasonal flow. Some of these you can do around the year and some in the last quarter. Hey, friends. Welcome to the business of home staging podcast. This is your backstage pass to business intelligence for creatives.
Joké Durojaiye:Are you driven by your passion for design and decorating so much that you're happy to do it for free? That was me until I made 6 figures in my 1st year as a homestager. Yes. Real estate staging is serious business with a potential for 6 or even 7 figures in revenue. Your talent is a great start, but building a profitable business requires so much more than creating beautiful spaces.
Joké Durojaiye:Get the boost of confidence you need to monetize your talent, keep your phones ringing, and your pipelines full. Grab the popcorn as I pull back the curtains on the best kept secrets with inspiring conversations and success stories of challenges, wins, and everything in between. I've made so many mistakes so you don't have to. If this Nigerian girl can do it, you my friend can do it too. Let's go.
Joké Durojaiye:Today's topic is one that home stagers know all too well, the roller coaster of the real estate market and how to keep your business steady during the seasonal slowdown. Once the kids settle into the school year in September, buying and selling homes is no longer priority for most families with kids. This results in a dramatic slowdown with fewer opportunities for staging. The focus shifts to getting ready for the holidays, and the business of home staging and real estate is feast of famine. It took me a while to finally start paying full attention to this to help me prepare and plan ahead.
Joké Durojaiye:I used to find myself broke and extremely stressed during the last quarter of the year as demand for sages slowed down. Meanwhile, the expenses kept coming. In fact, expenses are higher because our warehouse is bursting at the seams so we may end up renting extra storage to contain the overstock. This cycle can create serious stress if you're not prepared. So today, let's talk about the 5 strategies that make a huge difference in managing the seasonal flow.
Joké Durojaiye:Some of these you can do around the year and some in the last quarter. One of the ways that we continue to generate revenue in the last quarter of the year is by renting our saving inventory for homes that we staged before the holidays that are still sitting on the market because of the slower paced market. We continue to collect rent on the inventory that's out. Sometimes it has been our saving grace, honestly. So let's get into the 5 main strategies.
Joké Durojaiye:1, we have already established that you cannot rely only on staging to carry you through every season. Because we know that it's a cyclical business, you need to offer different services, and the opportunities are right there in front of you. One client relationship can open doors to a whole range of services. Have you ever heard a client say something like, if my house had looked like this before, I might not have mold. Instead of just smiling and saying thank you, follow-up after the job is done with an email or whatever you wanna send, offering a design consultation for their next home or space.
Joké Durojaiye:And this is not just a one time opportunity. Clients who trust you enough to stage their home and are happy with the result are often excited to work with you on other projects. But you have to ask whether that's organizing a room, redesigning, or refreshing their new space, additional services can create consistent income and keep you on top of mind when the staging side of things slow down. Let's pause for a moment and think about the fact that most businesses are built on providing solutions to problems. And here, we have in front of us somebody who is acknowledging that they have a problem.
Joké Durojaiye:The problem of not knowing how to set up their home in a way that is functional and aesthetically pleasing. But you have the knowledge and the expertise to solve that problem for them. So why are we not offering the solution immediately? And imagine that these are clients who already know, like, and trust you, because it takes time to build that know, like, trust factor. According to Salesforce, the authority on sales and all things customer relations management, it takes 6 to 8 touches to convert a lead into a paying client.
Joké Durojaiye:But here we are right in front of us. We have a ready made client who is ready to do business with us, who have already experienced working with us and interacted with our work. They love your work. So this is a golden opportunity. And it may not necessarily turn into immediate business, but making your offer and letting them know that you have a solution to that problem may may not be readily apparent to them.
Joké Durojaiye:After all, you're staging their house to sell. What's to say that you can create a house that they can live in? Unless you let them know. And once they know, even if they are not ready to do it now, you have put yourself top of their mind when they are ready to do a home makeover, restyling of their home redesign, whatever it is. And guess what?
Joké Durojaiye:They're also going to pass that information on to their friends and family. I could not tell you how many people I have worked with. There are referrals from people that I've never even worked with before just because I've interacted with them, and I don't shut up about what I can offer and what I can do. In future episodes, I will be talking all about all the opportunities that we're missing on how we can continue to generate business. Because I hear all the time in the streets, like, I have no business.
Joké Durojaiye:I don't know how to do my marketing. There's so many different ways or easy ways that you don't even have to step out of your comfort zone. It's already there in front of you, and you can take advantage of it. Promote these extra services throughout the year so that by the time you get to the last quarter of the year, potential clients are already familiar with what you're offering and all the various things that you can do. If you missed it, check out episode 1 because it dives deeper into the ways that you can diversify your income.
Joké Durojaiye:Your bank account, your spiritual and mental health will thank you. Number 2, leverage the highs and prepare for the lows. Understanding and leveraging the real estate market's ups and downs is powerful. Typically, January to September is busy, I mean, with fluctuations in between, but it's a lot more steady than the last quarter of the year. Demands fluctuate, but overall business can be steady.
Joké Durojaiye:And this is a great time to plan ahead financially so that when things slow down, you're not scrambling. A lot of home sager that I see, they focus on repairing furniture, organizing their warehouse, which are all wonderful things that will help you start on a fresh have a fresh start in the new year or when things start to get busy again. But beyond keeping the bedding organized and doing all kinds of crafts, A good tool if that helps you slow down and recenter yourself, by all means, those are all good things to do. But beyond just all of those things, think about strategies that can help you plan ahead financially so that your business can be stable and keep on giving. Because the thing is that we always default to the shiny objects and the feel good things.
Joké Durojaiye:And these are not sexy things, but they need to be done. All the boring things that keep the wheels turning in the background, so pay attention to those. And one of the biggest expense we all face is that huge warehouse rent, and it doesn't take a break just because projects are scarce. Try adding a little extra on your rent during the busy month. Think of it as building a buffer.
Joké Durojaiye:Each month you're setting aside extra so that by September or October, you've prepaid a month or 2. The amount doesn't have to be huge. A little extra goes far and can add up to take the pressure off when things slow down. For me, I typically pay on top of my monthly rent. I've already divided what it would take for me to be paid off by the end of September.
Joké Durojaiye:So October, November, December rent is completely paid by the time I get to September. So let's say your rent is $1,000 a month. I would love for that to be true. Let's say you wanna add 1 month to it. You can divide add 1 portion every month.
Joké Durojaiye:That is instead of paying $1,000 a month, you're paying 1,100. And by the end of September, October is paid full. By the end of the season, you've built up enough reserve to cover 1 month, 2 months, 3 months without having to worry about it. If you find it hard to do that and put 1 tenth or 1 12th of the money aside when things are busy, imagine when it is due in full and business has dried up. If you're serious about staying prepared, think about other expenses you can prepay during the high season.
Joké Durojaiye:For example, consider setting aside money for insurance, utilities, and even some business taxes. It might feel like a stretch. But when the slow season arrives, you'll be grateful that you don't have to worry about those extra costs. I'm saying this because we're in a business that's capital intensive. And most of us focus on fulfilling orders in the now, which means that we're constantly procuring inventory to fulfill those orders while ignoring all the other things that we eventually catch up when no one is requesting staging services, and they have nowhere for all that furniture to go but sit and make no money.
Joké Durojaiye:I am talking from my own experience. I would be buying all the stuff just to fulfill orders. Knowing that these essential expenses are already covered takes a huge load off during the quieter time so you can focus on what's next. You can certainly save or invest towards these expenses. The point is to think about it and plan for it before it is upon you.
Joké Durojaiye:I am only sharing what has worked for me. Something else may work for you as long as you're thinking about it, you're preparing and planning. It doesn't matter what method or how you choose to do it. Number 3, set up a line of credit for security. Here is a strategy that has made a huge difference for me.
Joké Durojaiye:And this came during the pandemic when everybody was in a panic. And we didn't know what was the next thing, what was gonna happen, are we still gonna be in business. And after that, I realized that I needed some kind of cushion because all along, I'd run my business on just personal funds and rolling it over and growing it and growing it. But you get to a point where if you wanna keep growing you need extra funds. So I found that a line of credit was the safest thing for me.
Joké Durojaiye:I did not take a PPP then PPP loan then just because I felt like there were so many other people who are deserving of it, who needed it more than I did. But what I did after the pandemic was to apply for a line of credit. And what I like about a line of credit is that it has a lot of flexibility because you only pay interest on what you actually use, unlike any other traditional loan where you are paying on the entire balance from day 1. So this way, if you need a boost, you have that reserve without a high cost attached to it. And the time to apply for a line of credit is when you are financially strong and creditworthy.
Joké Durojaiye:Because when you get to a point where you you don't have money, they're not gonna give you money. They only give you money when you have money. It makes no sense, but, hey, that's how it works. It's showing that you're financially responsible. Responsible.
Joké Durojaiye:So even if you're just starting out or you're trying to grow, get that loan before you need it and get it while you qualify. Again, it's flexible, and, you don't have to pay interest unless you actually use it. So that way when the market cycles turn and the pace slows, you've got a financial cushion to sit on. It's always a good feeling. And let me tell you that I am not a financial expert.
Joké Durojaiye:I am not an accountant, a CPA, tax adviser, or any such thing. I'm merely speaking from my own experience of what's worked for me just to get you thinking and the wheels turning about how you can prepare and plan for your own business. Okay. Number 4, promote early and don't wait for things to get quiet before you start to promote. By September, it's a smart thing to start rolling out seasonal services and campaigns to keep things moving.
Joké Durojaiye:Clients may not realize all the services you offer until you sell it out. So take the opportunity to show how you can make their holiday prep easier or new spaces more inviting, getting ready for the holidays, and, you know, having company in their home. Whatever it is that people need, you have to start thinking ahead and giving it to them and offering them and letting them know that, hey. I'm here. I can do that too.
Joké Durojaiye:And right now, we are already rolling a holiday campaign. And this year, we're collaborating with a colleague in the area so we can use our combined resources. I can never overemphasize the power of collaboration over competition. And in future episodes, I'll be talking more about that. So other things, you can do is invest in education.
Joké Durojaiye:Each year, I use this time to sharpen my skills or explore new ones. Now when I say business leadership course or engage in the services of a coach to help you bridge the gap of the things that you need help with keeps my mindset strong, and it helps me make smarter business decisions. I budget for this learning throughout the year so I can learn new skills and new topics without stressing over the course of it. So working with a coach during this time can be valuable. This has had a major impact on my business and personal growth.
Joké Durojaiye:And it typically happens around this time of year because when things slow down, you're busy, busy, busy going, and then things slow down. The tendency is for our brains to go to sleep and just no one to do anything. And that's the way that I keep myself engaged by learning new things and that I can apply to my business. And I charge my people with the same thing, come up with plans and different things that they wanna do to help us be more efficient because that's the time that we can actually breathe and have the brain power to do those things. So they come up with different ideas that we look at together, and then we approve, and then we do them so that when we get busy, we have we have improved.
Joké Durojaiye:Coming from where we were this year, we have taken it to the next level of efficiency and how we do stuff. And they are also growing in the process. And then build your network. As part of learning and education, seize the season for all kinds of events that you can take advantage of. A lot of real estate brokerages are having end of year parties, client appreciation parties, Connect with past clients.
Joké Durojaiye:Find new ways to strengthen those relationships. That way, when the market hits up again, you'll be the 1st stage I'd think of. Get out from behind your computer. Attend a few or numerous of the numerous events that are everywhere this time of year. Don't wait for someone to invite you.
Joké Durojaiye:Create your own event, client appreciation party, team bonding events, collaborate with one of your agents to host client appreciation parties. There's so much that you can do. And even just go on Eventbrite. There are events happening everywhere every day. I kid you not.
Joké Durojaiye:Go look there, and you'll find something in your area that you can go to to network, bring your cards, and exchange information. You never know where that's gonna take you. And my eyes opened to this last year. It was a vision boarding. We got together.
Joké Durojaiye:We meant to just create vision boards and just enjoy the season. And we met new faces, and there were people who were not part of the group or they were not known to us or known to even the the host of the event. Because when we were talking, I found out that they found the event on Eventbrite, and they came. And we met them, and we've made a connection. So you just never ever know.
Joké Durojaiye:Sitting behind that computer, especially when things are slow and you're not busy, it can make you brain dead. I know this for myself, and that's why I choose to this time of year, I'm doing all the learning that I can to keep myself fresh. Alright. So that's my personal tip for staying financially strong and mentally ready. Beyond managing the cash flow, the slow season is a great time to catch up on learning, resets, networking, and all the things that we're too busy to do while we're busy doing all the other things.
Joké Durojaiye:So staying ready for the roller coaster. The real estate market will always have ups and downs. It's a cyclical market. It's seasonal. It's not changing.
Joké Durojaiye:That's the way it is, and it affects our staging business. But with a few strategies in place, you can ride out the roller coaster with less stress by diversifying your services, prepaying expensive, or saving and investing for them, having a line of credits that you can come to if you need it. And if you don't need it, you don't need to pay anything for it. Promoting other services proactively early and often and always. You're setting up yourself for success regardless of the season.
Joké Durojaiye:You should be doing all of this throughout the year to build up for rainy days and stress less. I've included the editable spreadsheet link that I use to help me calculate how much I wanna have in reserve for my rent because it can be a totally different thing for you. For me, it's the rent. So I had to find a way to make it easy for me. So I've created that.
Joké Durojaiye:If you'd like, you can go in the show notes and click to download the spreadsheet and customize it to your needs. Thank you for tuning in today. Setting up your business for success takes hard work, but you've earned the right to enjoy the holiday season with more peace and less worry. You've been listening to the Business of Home Staging podcast. Remember to share, like, and subscribe.
Joké Durojaiye:For more business resources or if you need help getting started in the world of home staging business or any business for that matter or you're looking for growth strategies, reach out to me on the business of home staging.com so we can create a roadmap to get you from where you are to where you want to be. Thank you for joining me on this episode and keep doing all the things until next time.