Are you thinking about becoming a flooring contractor? Flooring contractors are skilled professionals who install and repair various types of flooring materials such as wood, tile, and carpet. While the earning potential of a flooring contractor can vary based on factors such as experience, location, and specialization, there are some general trends to keep in mind.
The Bureau of Labor Statistics states that the median annual wage earned by flooring installers, tile, and marble setters was $44,190 as of May 2020. The highest 10 percent made more than $76,320, while those in the lowest 10 percent were less than $25,580.
Note that these figures may not reflect the earning potential of a flooring contractor who's self-employed or owns the business. Self-employed contractors can set their own rates and take on more clients, potentially earning more than those who work for a company.
The earning potential of a flooring contractor can also vary based on their specialization. For example, those who specialize in installing high-end hardwood flooring may be able to charge more than those who primarily work with carpet or vinyl flooring.
To increase their earning potential, flooring contractors can consider expanding their skillset and offering additional services such as floor repair or refinishing. It can attract more clients and allow contractors to charge more for their services.
Overall, the earning potential can be lucrative. However, contractors must stay informed about industry trends and pricing standards to ensure they provide competitive rates and earn a fair income..