Making repairs at home is inevitable. Eventually something will break. But many people prefer to avoid having to fix things themselves. That’s where a handyman comes in handy. Having someone come in and do whatever is needed while offering an affordable service is always a great alternative.
What is Handyman Business
A Handyman Business is a versatile service that offers a range of home maintenance and repair solutions. These professionals, often referred to as handymen or handywomen, are skilled in various trades, including carpentry, plumbing, electrical work, and general maintenance tasks. Homeowners and businesses hire them for tasks such as fixing leaky faucets, repairing drywall, installing fixtures, or even painting.
The appeal of a Handyman Business lies in its ability to address diverse needs, providing a one-stop solution for small to medium-sized projects. These businesses thrive on reliability, efficiency, and a broad skill set, making them indispensable for those seeking prompt and expert assistance with household repairs.
Aspects to consider when starting a Handyman business
There are a few things you need to think about before starting a repair or construction business better known as handyman, to ensure that you will have a high probability of success.
- Decide what types of services you want to offer. Handyman services include a wide range of jobs. These may include seasonal work, small appliance repair, home repairs, home decorating such as painting. You can offer several of these services or you can focus on something specific. You must also decide if your services will be offered in residential areas or if they will be for commercial businesses.
- Develop a business plan that details all aspects of your business. Be sure to highlight how the services you offer are different from what other similar companies offer. You can do this, for example, by offering emergency or after-hours services, lower prices, or different types of services. Remember to include the cost of supplies as well as your time when calculating prices.
- Establish a location for the office. This type of business can be carried out from home. But for the sake of efficiency, it is recommended that you find a dedicated office space. Get all the furniture, equipment and supplies needed for your business space.
- Get the tools you need. Once you have determined what services you will offer, acquire all the necessary tools.
Steps to start a Handyman business
Here are some steps to help you get started with your handyman business:
- Obtain a business license. You will need to choose a name for your business and make sure the name is not already taken. You will then need to register the business name with your state. Obtain a license in the city where you will work. All of this may seem more difficult and complicated than it really is. Requirements vary from state to state, but it shouldn’t take you more than two or three days to do everything that needs to be done. Some jurisdictions, such as Utah, even allow you to do basic work without having a handyman license, depending on the amount you will be paid and what type of work it is.
- Purchase business insurance. At least a basic insurance policy is recommended. This shouldn’t cost more than $1000 a year. This way, you and your company will be protected in the event of an emergency. It’s always best to get insurance, and then you can advertise that you are “licensed and insured” in your state.
- Get a vehicle. This might not be necessary if you already have one that works. But if you don’t, you’ll have to buy a commercial truck or van to transport all your tools and equipment to different job sites. It may be something used and affordable, but make sure it works well and performs well. At first, you can buy something that you can use for a year or so, and then think about upgrading later.
- Advertise your business. If you don’t do this, you will never be able to attract any clients. If your starting budget is low, use Craigslist and other free job sites. These websites are a good way to generate leads for people with small budgets. You can also create your own business website. Some web hosting services, such as Bluehost, are really cheap and can even give you a domain name for free. Even if you have just a basic website, it will have a presence on the Internet and will be another way for people to find your business.
Choose a name for your business
One of the most important things you will need to do when starting your handyman business is to give it a name. You must choose a name that projects the right image, as the name will not only identify your business, but will also define and brand it.
Here are some tips you can follow to create an appropriate business name:
- Make a list of words that represent your business. Think about the types of services you offer, as well as how your business is unique, whether you do same-day or emergency calls, or whether you focus on a specific market. Also, try to choose a name that is good for your business, but won’t prevent you from adding more services in the future. For example, if your business name includes “Handyman Inc. and then you want to add cleaning services later, that name will not reflect the other services you offer.
- Find out if the name you want has already been taken at the United States Patent and Trademark Office. Using a name that is already trademarked could result in a lawsuit and you will have to change the name of your business, which means rebranding. If you choose a name that’s already registered, there’s no way to know for sure whether whoever owns that trademark will ever discover it, but it’s best to avoid any such problems altogether and come up with a unique name.
- Check if your company name is available as a domain name online. Every business, even local ones, should have a website.
Build a business that will bring you profits
Having good business sense is as important as having the skill and knowledge to run a successful handyman business. You are selling your services and yourself as a business person. Learning how to price your services and estimate profits, as well as manage time and money, are critical to the success of your business.
To ensure that your business will be profitable, you must:
- Price your services for profit. You must set prices that attract customers, but also cover the cost of doing business. You have to consider more than the cost of parts and labor. You have to take into account the travel time to the place where the work will be done and business costs, such as insurance and office space.
- Manage time effectively. For a project to be profitable, it is important that it be completed within the established time. Track the average time to complete various types of projects so you can include an accurate time and price estimate for clients.
- Bill for additional time and expenses if necessary. If unforeseen expenses occur, you will need to invoice them. If issues arise that were not seen when the estimate was given, let your client know and provide a revised price based on additional time and materials. However, don’t make it a habit, as this can make customers feel cheated. What you can do is include an extra percentage on the invoice to offset any additional expenses that may arise during the project. If no additional costs occur, you can invoice the lower price. This will leave a good impression on clients and will probably have a good effect when a client tells other potential clients that they are being charged less than estimated.
- Manage your money. Hire an accountant or use an accounting program like QuickBooks to see where the money is coming from, who still owes you money, and where the money is going.
How to make more money with your Handyman services
Ready to make more money as a Handyman worker? These are the strategies that John recommends:
1. Work for yourself
The average blue-collar worker salary includes the salaries of people who might work for the government, large construction companies, college campuses, or apartment management companies.
To make a lot of money, you will have to work for yourself. While this rule can apply to many industries, it is particularly true in the construction sector, where employers often take a big cut from the rates they charge clients.
2. Charge a high fee for professional service
Not only are you selling practical services, but you are selling yourself.
Clients are hiring you to work inside their homes for a few hours or a few days. They will want someone who is professional, trustworthy, reliable and punctual and will probably be willing to pay more for services they know they can count on.
By returning calls promptly, being professional, and always showing up on time, you can charge a higher rate than someone who doesn’t take their business as seriously. Your clients will be happy to pay for it.
3. Find the right clients
To charge a high rate, you have to find the right clients. If someone only cares about price, those types of clients are not for you.
4. Outsource the work or hire more staff
No matter how high your rate is, you can only physically do so much work each week. By hiring other Handymans to do some of the work, you can focus your attention on completing the work faster, finding other projects, advertising, and giving yourself more time growing your business.
What do most handymen charge per hour?
Handyman hourly rates vary widely based on location, expertise, and services offered. On average, rates range from $30 to $75 per hour. In urban areas or for specialized skills, charges may be higher. It’s essential to obtain quotes and discuss project details to get an accurate estimate for your specific needs.
Handyman vs. general contractor
A handyman and a general contractor are both crucial in home improvement, yet they differ in scope and expertise. A handyman typically handles small, day-to-day repairs and tasks around the house, such as fixing leaky faucets or repairing minor electrical issues. They possess a broad skill set but may lack specialization in complex projects.
On the other hand, a general contractor overseas larger construction or renovation projects. They coordinate various aspects, including hiring subcontractors, obtaining permits, and managing the overall project timeline. General contractors often have a deeper understanding of building codes and regulations, making them essential for substantial home transformations. While handymen are versatile for minor fixes, general contractors bring comprehensive project management skills to major endeavors.
Is Starting a Handyman Business A Good Idea?
Starting a handyman business can be a lucrative venture. The demand for skilled tradespeople is constant, offering a steady stream of potential clients. With the right skills, marketing, and customer service, a handyman business can thrive. However, success requires proper planning, dedication, and the ability to handle diverse tasks efficiently.
Conclusion
Starting and growing a handyman business requires careful planning, dedication, and a commitment to providing excellent service. By following these steps and staying focused on delivering quality work, you can build a successful and sustainable handyman business. Remember, success in this industry often comes from a combination of technical skill, business acumen, and a genuine passion for helping others with their home improvement needs.