David Tyson’s remodeling company, David Tyson & Associates, has been in business in Charlotte, N.C., for 30 years, but Tyson has spent almost every summer in Maine, where his wife grew up. After he and his wife bought his wife’s 180-year-old Maine family home and the couple decided they will retire there, Tyson began getting the word out about his company. The goal: to do some projects in Maine as he transitions to retirement. Tyson advertised in local Maine newspapers and posted on his website that he is now offering remodeling services in South Freeport.
While renovating his Maine home, Tyson worked with some trade contractors in the area and let them know he is interested in local projects. He assessed the local remodeling market, where the average home is 90 years old, and found that “about 30% to 40% of the houses ... are summer homes,” and the economy gets a boost in summer when these owners visit. To his advantage, Tyson also found that not many remodelers in the area offer design/build services — his focus in the Charlotte market.
He also points out that energy-efficient building is more popular in Maine’s cold climate — with its high cost of heating oil — than in temperate Charlotte. In an effort to boost energy efficiency in his own Maine house, he sealed gaps and has plans for future upgrades so he can use the home as a way to help promote his expertise in this niche.
Tyson’s goal is to serve both Maine and North Carolina — with his son ultimately taking over the Charlotte office while he concentrates on the Maine business until retirement.
—Nina Patel, senior editor, REMODELING.
More REMODELING articles about exit strategies and branch offices:
New Legacy: A gradual, steady transition in leadership
Purchase Plan: A unique arrangement provides a former owner with an active role after the sale