Do you want to know how to start a handyman business? A handyman business includes varieties of home repair services such as electrical service, gas oven repair, interior, exterior design, cemeteries repair, and so on. Learn how to start a handyman business that is fit for you to start right now.
A handyman is popular as a fixer, who is fixing the error on a home-based task. A handyperson worker is usually a person who is skillful in extensive repairs around the home. It is also describing as a “fix-up operation. These tasks can replace light plumbing work such as fixing a hanging toilet or light electrical jobs such as light fixes.
You’ve come to the right place. We will cover everything from step by step so that you can make smart decisions for yourself.
6 Steps: How to Start A Handyman Business
You can start a handyman business by following the 6 steps below:
01: Choose the right services.
The first step is you need to evaluate your current skills and decide on the services you will provide. You may be thinking; in this service, I have to do everything. But the short answer is’ no; You don’t need to do everything. You can make huge profits by offering limited services. Indeed, in some cases, this business is more profitable for some experts.
For example, Jhon cannot do any plumbing, electrical, or HVAC work in his state without a license. This significantly limits his services, yet he still has more business to manage.
Additionally, think about the service business like garage door repair companies, lawn care companies, locksmiths, home security installers, masons, and many other handymen. Many people think these businesses focus on all specific services and can be very profitable.
According to a handyman, you will usually have a wide range of services that will cover a wide range of businesses, but you can certainly get started by offering how to do it and how to grow from there. That’s how Jhon started his handyman business, and he is still learning new skills every day, he said.
So the first thing you have to make a list of all the possible services you can offer.
02: Estimate how much money you want to make.
We are not talking about heavy investment businesses that need more loans to start. Handymen are lucky enough to keep their startup costs reasonably cheap, especially if they have their own equipment. Also, it’s easy to add more items to your business as you start getting projects.
Let’s get started to answer a question –
- what is your minimum amount of money to start your handyman business?
- Answer: The initial cost you can expect around $ 2,000- $ 4,000
You may want to know how we got this assumption?
We spend time on the internet and find some people who are experts in this handyman business. They said to start a handyman you need initial cost not more than 5000$.
03: Create a business plan for your services.
Don’t worry you don’t have to create a super-official business plan. Think of this section as just an opportunity to reflect on what you want to achieve with your handyman business.
See, many of your coworkers start their business because they know in their hearts that they can do better. They have worked with terrible bosses who prioritize pay over client work or yell at their employees for the smallest breach. These guys start their business because they are tired of seeing the sick and fat project salary go directly into the boss’s hands and end up with only a small money payment.
You probably have the same reason; that’s why you want to start your own handyman business. And these factors may be enough to get you up in the morning for the first few months.
But in the end, that primary power or energy of yours is going to burn. It’s okay, but it will help if you have more than a passion for keeping your organization started, running, and growing. That’s how your business plan works.
You have to write a checklist of three key milestones from the first day you start your business:
- Six months assumption
- One year assumption
- And five years assumption
So select anyone what your successful handyman business will look like at each of these stages. Specify here because these milestones can help you measure if your handyman’s business is on the right track or if you revise some courses.
Here are some questions that might get you started:
- How many clients will you have?
- What will be the profit of your business?
- Where will it work?
- How many employees will you have?
- Where from do you get most of your tasks?
Ensure your answers are relatively reasonable. After all, it is very rare to have 40 clients in the first six months of starting your business. You can inherit many clients from previous work. You may feel hesitant to set milestones as you learn more about running a business but pay attention. If you continually adjust your milestones, it shows you how your business would look like in the future.
04: Pricing and marketing strategies.
Handyman business needs proper pricing and marketing strategies. Otherwise, you can’t compete with your competitors. If you forget it, you can lose money and your clients. The services you are providing for that set up an initial pricing and marketing strategy to bring new clients into your business.
Focus on your business plan and follow until your business goes established. Determine your business strategy and goals and deciding how to make profits from your services than your competitors. Your business marketing strategy consists of your clients, your services, and managing all your clients.
Pricing your services is not an easy task. Many people fail in this strategy. The focus strategy should be on providing low-cost services to hook up your clients to your business. Then, get them how you provide your services and how costly it is and how you are providing your service at a low cost. You can hire a business coach to teach you properly.
Ryaan is an expert in handyman business he explained in his way that I have found on the internet. He said,
Determining your overhead costs is a great start. Sometimes it involves some trial and error. You can check out a comprehensive guide on how to price your services.
Another option is to take the advice from an expert who is owning a handyman business. The owner of a home services business in Denver, Colorado, they have a good idea of the overhead expenses. After one year, you have a look at your one year’s income statement. The income statement will disclose to you how much your overhead cost yearly. It will help you to make more in the next year.
You may take the sum of the two and divide it by 260 (daily working days of the month) or divide it by 12 (for a monthly break). From there, you can decide how to use this money to run your business. Some people will use overhead to buy products; Others will use it for marketing.
05: Start Marketing for customers to your business.
If research properly then, you know there’s a pretty good demand for your services. Now you have to reach out to those potential customers without making more profit. You have to offer them your services at a low price; just hook them up with your business. For this reason, try to advertise your services on sites like Craigslist and Facebook.
Besides, you should focus your time and effort on verities of marketing or digital marketing. Here are two example sites like NextDoor and Home Consultant. These sites make it possible to notice your efforts in your local environment, so your potential customers are more likely to show up. Plus, the NextDoor is free to use, so you’ll be able to post information about your services without having to spend money.
You many need to create a website for your handyman business to present your handyman services smartly. If you can’t do yourself, you may take a support it from WebTech. The WebTech provides one stop online business solutions at a reasonable price from Bangladesh. The services of WebTech includes Website Design, Content Writing, Handyman business cards design, Logo, Graphic design and Digital marketing including SEO (Search Engine Optimization).
06: Consider small business insurance.
Here is another undisputed but essential part of running a successful Handyman business. You have to consider getting insurance for your business regardless of where you are operating or what kind of work you do as a handyman. Some states require handyman insurance, so it is essential to review the requirements.
Different types of business have to choose from insurance, but the main points to consider are:
Professional Liability Insurance: Protects businesses from negligence claims if they make a mistake on the job. You can also seek coverage for injury, illness, or long-term disability insurance if you claim your work cannot do physical work.
Read also: New insurance laws allow for micro-products
Advantages and disadvantages of handyman business.
Homeownership comes with an endless list of things to fix, improve, and put together, and finding the time to get it done is a common challenge for homeowners. Also, some common homeowner to-do items may require more than your own knowledge.
If you know how to fix things, starting a business as a handyman can give you a great business opportunity and help fight homeowners to get their homes right finally.
Advantages of handyman business-
Some of the potential advantages of starting a Handyman business include:
- Ne need more expensive tools and equipment
- Your initial costs are lower
- Starting on a part-time basis is a great business
- You have high-profit potential.
- Your overhead costs are usually lower.
- Word of mouth and referrals are great marketing tools for this business.
- There are opportunities for experts, such as working exclusively with real estate agents or home renovations.
- You can focus on commercial and residential services.
Challenges of handyman business-
Though there are lots of advantages in handyman business, but you have to face some potential challenges for starting a Handyman business, such as:
- Your physical condition needs to be good.
- Some of your work may be seasonal.
- Some areas are challenging to get Licenses
- Creating a profitable client base can take some time.
- You should have knowledge and experience in all aspects of building, renovating, maintaining, and repairing your home.
- You need a complete set of hard work tools.
- Your business may need a license, liability insurance, and in some cases, your bonding.
- You may need a contractor’s license.
FAQ: How to Start A Handyman Business
01. Is this a good idea to run a handyman business?
Starting a handyman business on a part-time basis is a great business. You have high-profit potential. Your overhead costs are usually lower. Word of mouth and referrals are great marketing tools for this business.
02. What tools do I need to start a Handyman Business?
Make sure you are buying a kit with hammers, screwdrivers, pliers, chisels, files, squares, wrenches, vice grips, tin snipes, Allen wrench, and paint scrapers, nails, screws, drywall inserts, wire nuts, and other miscellaneous small parts.
03. How do you get customers for your Handyman business?
Marketing ideas for your Handyman Business establish your skills through certification. Most people who seek a handyman’s services do so for their personal space, such as their home or their own office.
- Online listing
- Print copy
- Mobile advertising
- Jump into the social media wagon
- Expand your service offer.
Follow all the tips that are already mentioned above. Connect with each customer as if they are the most important customer in your business. Evaluate honestly with the skill required for the tasks you are doing. Spend time passing in the hands of a contractor if such work cannot be done very correctly instead of accepting. Work hard, guarantee all outcomes, and promote 100% customer satisfaction.