Why not start a handyman business if people seek you out for their “handyman” tasks around the house and you are skilled with your hands?
Millions of people are starting their own businesses because many jobs are insecure. There is always a need for handyman services, whether it be because homeowners lack the necessary time or expertise.
A great way to make money is to launch a company that won’t become obsolete thanks to automation and computers.
Visit our guide on launching a handyman business and learn everything you need to know to succeed.
The How-To series continues with this article. Please read the earlier articles if you’re interested. Getting Started with a Drone Business or a Courier Business
Reasons to Start a Handyman Business
- You already have good manual dexterity and are compassionate.
- You have (most) of the equipment and supplies required to complete the task well.
- Since you can use your current tools and vehicle and don’t need an office, overhead costs are typically low.
- You can narrow your focus and choose a niche market.
- The likelihood of profit is high.
- If you like helping people and working with your hands, it’s enjoyable.
The most crucial point is that you don’t have to be an expert at everything. Offering handyman services could imply that you specialize in one thing, like tile installation, or that you offer a wide range of services. The model is up to you; it’s your company.
How Much Does It Cost to Start a Handyman Business?
The startup costs for a handyman business are among the lowest of any industry. You’re well on your way if you already have a car and a set of tools, but there are still expenses to start and maintain a handyman business:
- Business license up to $1,000
By state and business structure, the price varies. Will you be an LLC or a sole proprietor? Although it costs more to file as an LLC, your assets are protected. Additionally, you need to get a state business license.
- Insurance up to $1,000
You need liability insurance. What would happen if you damaged your client’s home or someone got hurt because of your work? Liability insurance protects you financially should anything go awry.
- Tools up to $2,000
You might not have to pay anything if you already have an excellent collection of tools. However, expanding your set can increase your business expenses.
- Logo and website design up to $2,000
Today, every company needs a logo. You can make your own, but it makes sense to hire someone else if you don’t have the time or expertise. You can find professional companies charging thousands of dollars or freelancers offering logo design for a few hundred dollars.
- Website design up to $2,000
Run your business with a website. Even if you market through word-of-mouth, you still need a location to direct people to. They want to read about your services, hear what others have to say, and look at your prices. Similar to logo design, hiring a freelancer for a few hundred dollars or a reputable web design firm for thousands of dollars are both options.
- Truck insurance up to $1,000
Don’t run a business without a website. You still need a place to direct folks even if you market by word-of-mouth. They want to read about what you give, what others have to say, and what you charge. Similar to logo design, you might engage a freelancer for a few hundred dollars or a reputable web design firm for thousands.
- Miscellaneous costs up to $2,000
Other expenses you might (or might not) incur include:
- Fees for bank accounts
- PO Box charges
- Cost of truck decal
- uniform prices
If you’re already interested in doing some math, head over to handyman startup where you can quickly figure out your hourly rate to help you live the life you want.
How to Get a Handyman License?
When considering how to launch a successful handyman business, you must take the required licensing into account. Although a contractor’s license might be necessary in your city or county, many states do not require a handyman’s license. Before starting your business, familiarize yourself with the rules in your state, county, and city.
You might need particular licenses to handle these tasks if you plan to offer any specialized services, such as HVAC, plumbing, or electricity. Ask the State Board of Contractors for advice.
Best Way to Advertise a Handyman Business
You must take the required licensing into account when wondering how to launch a successful handyman business. A handyman’s license is not typically required by states, but your city or county might demand a contractor’s license. Before starting your business, learn about the regulations in your state, county, and city.
You might need particular licenses if you plan to handle any specialized work, like HVAC, plumbing, or electric work. The State Board of Contractors should be consulted.
- ERstablishing a website
- The creation of a social media page
- Establishing contacts in your community
- posting flyers in public places
- Request frank reviews from previous clients on your website and social media, even for free services.
- When doing handyman work, print yard signs and place them in yards.
The Types of Handyman Services
A handyman may be a “jack of all trades” or may focus on particular fields, such as:
- Fence and deck repair and replacement
- Drywall installation
- Tile installation
- Window and door repair
- Bathroom remodels
- Kitchen remodels
- Smart home upgrades
- Hardwood floor installation
- Basement finishing
Is a Handyman Business Profitable?
Starting a handyman business can be financially successful if you take the appropriate actions.
- Determine your investment capacity. Establish a budget and examine how it aligns with the startup fees for a handyman service. Before you get your first client, avoid going into the red by not spending responsibly.
- Concentrate on your areas of strength. Don’t feel obligated to provide all services. Offering services you can’t perform effectively is a waste of time and an opportunity cost for tasks you could complete more quickly. Pick a niche and stay with it.
- Choose whether “big” jobs are worthwhile. Sometimes the quicker and smaller jobs pay off better.
- Work together with a CPA. Hire a professional to keep your books organized if numbers aren’t your thing so you can enjoy earnings.
Finding out how to launch a handyman business may be fun and successful. Anyone can launch a company that aids others if they have the necessary resources (and skills). There are opportunities for everyone, whether you choose to launch a side business while maintaining a full-time job or dive right in and concentrate on your business.