A Manifesto For The Home Renovation Industry
Home Renovation is Broken
For decades now, home renovation has been the bane of the real estate and construction industries. The process for homeowners is opaque, random and confusing. And it's no better for professionals.
Companies like AngiesList, BBB and HomeAdvisor are often hailed as solutions by a public eager for change. But the reality felt by those on the ground is that nothing has changed - unplanned costs to homeowners doing renovations in 2016 totaled $56B while the same year saw 644,000 failed projects. The tension on the ground between homeowner and professionals persist. The level of distrust between them remains high.
Maybe vetting professionals and matching them with just anyone is not the answer?
The Real Problem
After years of research, questioning, experimenting and building solutions, the team at Bolster has come to believe that the core reason the renovation experience remains so painful for everyone is that the process itself is broken and that this prevents owners from getting to understand and believe in the true cost of their project. That's right, the conventional notion that it's all about bad contractors running off with deposits does not stand up to scrutiny. Instead we see a lack of transparency and analytics about the true costs of renovating forcing owners and professionals to engage unwittingly in a vicious bidding process that results in professionals accepting and trying to deliver under-resourced projects that are destined to fail before they've begun.
Here's a breakdown of our thesis:
- Owners have no reliable way of knowing how much their renovation project actually costs to do correctly;
- When presented with figures from qualified professionals they typically don't believe the accuracy of the costs;
- The owner finds a contractor (usually inexperienced, desperate for work or struggling financially) willing to provide a lower price;
- The project encounters difficulties, delays and cost overruns;
- The professionals and owners blame one another while the true culprit, the underlying renovation process, gets off scot-free.
There needs to be a better way.
Someone needs to redesign the renovation process.
That someone, appears to be us.
A Better Way
Bolster is building a full-stack home renovation solution atop a powerful new process, one where:
- The best Professionals are paired with only Qualified Owners
- Pricing is revealed in its purest form and guaranteed to be accurate
- Owners, Architects and Contractors collaborate with one another
- Projects are delivered successfully with less cost, effort and surprise
- The User Experience is positive for all parties
Our approach is new. Many "experts" think it's impossible and that the industry is just too broken and too convoluted to fix. To that we say we'd rather fail being bold than succeed being mediocre - America doesn't need another AngiesList.
What We Believe
We discovered some time ago that architects, engineers and contractors unintentionally operating in such a way that makes it extremely hard for owners to understand what actions are being performed on their project and how they are being charged for them.
To be transparent in home renovation therefore requires being able to untangle and quantify each and every atom of action and cost which takes a deep commitment to digging deep, making new connections, then analyzing, interpreting and communicating these in such a way that our customers believe and are empowered to make smart decisions from.
No one is better placed to reveal the truth to owners about their project’s scope and cost and absorb any and all possible financial risk associated with their project than those tasked with pricing and delivering it.
This is why we become a shareholder in each of our customer's projects by partnering with some of America's leading insurers and voluntarily having them hold us financially accountable for our performance on each and every project. Learn about our Financial Guarantee.
Quality over Quantity
Renovation is a mini-marriage, and regardless of how talented a professional is, working with a bad client brings them down which in turn hurts the next client and so on. This is why we can only renovate with qualified owners.
Questions over Answers - We embrace our ignorance and love asking interesting questions. There's a reason why everything interesting begins with "why".
Listening over Talking - There's a reason we have two ears and only one mouth. We just like this.
Renovation is a Science - While science and art are more similar than different, treating the renovation process as a science gives hope to the idea there's an objectively better way to do it AND that it can be taught to owners in a timely manner.
Architects and Contractors Belong Together - Architects and Contractors were once one thing: a Master Builder. Architects design better with the help of a Contractor, Contractors build better with the help of an architect. Simple.
People over Processes - We make a big deal of our process. But if something goes wrong, you'll be glad to know we personally vetted and trained only good, honest people. No jerks allowed.
Full Stack Means They'll Come Back - You either take responsibility for the full renovation experience or you don't. If an owner has a bad experience with a professional, they'll blame the recommendation engine (e.g. AngiesList). However, if they do have a good experience they'll recommend the professional. It's a lose-lose and the reason we chose to take responsibility for the full experience from start to finish.
Unfiltered Truth - We are brutally honest with each other because it helps us build better user experiences. Only when you are honest and direct, can you uncover, confront and solve problems in a meaningful and useful way.
Share Our Passion? Get In Touch!
We believe there is a better way to renovate. One that sees homeowners get the project they expect at a fair price and delivered 100% on time and budget.
To make this happen we're dedicated to building the best product the renovation industry has ever seen. This in turn means building an amazing and diverse family of professionals, owners, and entrepreneurs that share our unique passion for truly transforming (and one day leading) the $100B major home renovation services industry.
If this sounds like something you want to be a part of, get in touch.
Fraser Patterson, Founder & CEO
Contact me: email@example.com
Professionals: Start Your Application
Owners: Start Your Renovation