So, you finally decided to join the team of handyman business after tons of procrastination. Congratulations! You’re about to embark on this journey with leaky faucets, wobbly chairs, DIY customers and “Why did I think this was a good idea?” thoughts.
Let’s be honest- starting a handyman business is less about being the savior of leaky faucets and more about the surviving calls from desperate homeowners at odd hours.
You’ll be the hero they don’t deserve but absolutely need when their shelves come crashing down. It’s a business for those who find comfort in the chaos and believe that any problem can be solved with a roll of duct tape and little optimism.
This guide isn’t just for the “handy” types who can hang the picture frame without putting six extra holes in the wall. It is for anyone who is ready to turn their life skill into a hopefully profitable business.
Expect a few reality checks, and some questionable advice as we walk you through starting a handyman business- from assessing whether you are actually handy to figuring out if you can legally cash your skills.
Grab your tool belt, and let’s get into it.
Kickstart Your Handyman Business with Field Promax. Earn Maximum Profit with Minimum Investment. Sign Up Now.
That’s right. No matter how trivial it might sound, a handyman business is indeed a profitable business idea. There will always be something that needs repairing at our homes or offices, and that means you will never run short on customers. So, if you are good at mending things around the house, it might be a good idea for you to launch a handyman business. No doubt it is profitable. But more importantly, it does not cost a fortune to start.
Having said that, launching a business with a limited budget is always a tricky task. You need to have a sound strategy and a plan to execute your strategy flawlessly. But how do you do that? In case you are wondering the same, you have reached the right place. In this blog, we will lay out the perfect plan to start a handyman business. Just follow these simple steps and watch your business soar.
Assessing Your Skills and Services
Not everyone who considers to start a handyman business actually knows how to do it handy. If your idea of fixing a leaky faucet involves aggressive starting and a quick prayer then you might have to rethink your strategy. But hey, we’re not here to crush your dreams, we are here to make you question your choices in a constructive way.
Start by evaluating what you’re actually good at.
- Can you paint the wall without it looking like an abstract art?
- Can you assemble IKEA furniture without swearing in three different languages?
- Can you hang a picture without turning the wall into swiss cheese?
If you answered any of these yes- then you might actually have the making of a real-life handyman.
Think about the services you can offer without any fuss. Some popular handyman services include minor home repairs, paintings, drywall repair, furniture assembly and basic plumbing. You can go broad with your offering or niche down to something specific like cat proofing the apartment- yes, that’s a thing!
Before you market your offers as the savior of broken hinges and misaligned cabinets, make sure you can actually do the job. No one wants to pay for a “pro” who makes their problem worse. Be real with yourself, grab a hammer and move on.
Cut Down Your Overhead Costs with Field Promax. Book a Book a FREE DEMO to Learn How.
Researching the Market and Identifying your ideal clients
Before you pick your trusty toolbox and become the neighborhood’s go-to fixer, it’s crucial to understand who actually needs your service. Trust me, it’s not just the overworked up homeowner with a squeaky door. If you want to start a handyman business that actually makes money, you have to do some strategic research. Don’t worry – no boring pie charts here, just some solid advice and practical steps.
Step 1: Know your audience
Your target market falls into three main categories and each has its own set of needs and frustration. Let’s break it down:
- Homeowners– They are often one DIY disaster away from giving up and calling themselves a professional. Homeowners value reliability and someone who can tackle those “small jobs” that contractors turn up to. You can ideally pick them for quick, repeat jobs like fixing leaky faucets, installing shelves and patching drywalls.
- Landlords– They want quick, cost-effective solutions because time is money and complaints are endless. Landlords need handymen who can handle a variety of tasks efficiently without charging contractor rates. These are great picks for ongoing contracts who need regular maintenance between tenant turnover, and minor repairs.
- Property managers– They manage multiple properties which means endless repairs and zero time to handle them all. Property managers need reliable handyman business people that are available on call and are no-nonsense fixers. They are your great opportunity for long-term partnership and consistent work.
Step 2: Sizing up the competition
Before you become the next handyman superstar, you need to see who else is playing that game. Here’s a detailed understanding on how to start handyman business quickly and effectively:
- Online research– Check out local handyman businesses on Google, Yelp and social media. See their services, reviews and pricing. Join some local Facebook groups and community apps like Nextdoor. This is the virtual space where people often complain about handyman issues and recommend reliable ones.
- Secret shopping– Call a couple of handyman businesses and pretend to be their potential clients. Ask for quotes, availability slots and services. Drop the call. Understand where you are lacking and fill the gap.
- Identify service gaps– Understand the market flaws like common complaints about “poor-quality work.”
Step 3: Pricing- Not a charity, not a scam
Pricing can make or break your handyman business, so pick what’s required. Too high will make your receptionist dry whereas too low will basically ask you to volunteer. So, how do you price it right?
- Dig local market rates– Find out what competitors are charging for their typical jobs hourly or contractual. Aim for slightly more competitive but highlight why you’re worth it. Pick your research from HomeAdvisor and Thumbtack to understand average pricing for handyman services in your area.
- Consider market demand– If there’s a high demand for specific services like fixing damaged fences assembling IKEA furniture- charge a premium. Adjust pricing based on the complexity like unclogging toilets vs repairing electrical wiring. Different skill sets call for different risks.
- Factor in overhead– Don’t just price for your time. Include travel costs, tools, material insurance and marketing.
For example
If local handymen charge $50/hr consider offering $45/hr. This promotes your reliability and fast response. Or, often package deals like “Home maintenance package” for $300, covering minor repairs up to 5 hours.
Writing a Handyman Business Plan
Before you announce the “Handyman for hire” sticker on your van, you need a handyman business plan that works like a pro. It is more than just a random list of thoughts scribbled in a notebook. This plan is your business’s blueprint- guiding you growth, helping secure financing and saving you from running around like a headless chicken.
To understand how to start a handyman business plan you have to create a plan which is like assembling flat-pack furniture- it seems tough, but without it, things can quickly fall apart. So, let’s dive into what makes a solid plan for a successful handyman business.
Defining your business goals and mission
Setting clear goals isn’t about “corporate” things- it’s your motivation to stay focused when client calls slow down or hit you with a dry spell.
- Introduce short term goals– These are easy to achieve targets like completing first 10 jobs, getting consistent customer referrals and breaking even in six months max.
- Introduce long term goals– Aim higher- expand your services, hire a team, specialize in high-end renovations or introduce yourself as the go-to handyman business in your area.
- Mission statement– Think of it as your elevator pitch. It should explain why your clients should pick you over others. What makes your business unique, reliable, affordable and smooth.
Structuring your services and pricing
Offering a variety of services is great, but making sure you don’t overpromise and underdeliver. Be very realistic about your skills and resources. Check these points:
- Basic services– General repairs, painting, caulking, patching drywall and furniture assembly should be in your deliverables list.
- Speciality services– Minor plumbing and electrical work, garage organization and smart home installations. These are the specialized services that allow you to charge a premium.
- Pricing strategies– Go for hourly rates for open-ended projects. Research local rates and be most valuable. Charge flat rates for quick, straightforward jobs like installing shelves or fixing the TV. Be upfront about the costs here. For emergency services, offer premium rates.
Financial planning and projected revenue
A handyman business plan without financial planning is like providing a power drill without any battery- pretty useless, right? Check the valuables of financial planning below:
- Startup costs– Expect some business expenses like licensing, insurance, tools, your vehicle, initial marketing and branding. The price can go up to the range from $2000 to $10000 depending on the scale.
- Ongoing expense– Fuel, tool maintenance, employee wages and marketing. Don’t forget taxes.
- Revenue projection– Estimate number of jobs you can handle each month and the average revenue per job. Subtract your expenses to get a realistic picture of profitability.
Marketing and operational strategies
It is not enough to be the best handyman in the town if no one ever heard about you. Marketing and efficient operations will keep your handyman business growing.
Marketing tactics
- Local SEO– List your business on Google My Business, Yelp and Angie. Gather positive reviews.
- Offline marketing– Get your flyers ready and distribute them in hardware stores. Add some networking with real estate and property agents.
- Social media– Put reels about before and after transformation, prepare good social media strategy and post rich quality pictures.
Operational tools
- Scheduling software– Stay organized and never double book for one service. Use apps like Field Promax for smart scheduling.
- Invoicing software– QuickBooks, Xero and Wave can help in invoicing and tracking expenses painlessly. It makes your work smoother, smarter and better.
- CRM system– Keep track of your client details, service history and leads for follow-up.
Registering and legally setting up your business
You must have thought that how to start handyman business is about having the toolbelt and some knowledge about how to fix things. We hate to break it to you that if you want to do it right, it’s more than that.
You have to legalize your business and set it up correctly. Forgetting the legal stuff can lead to fines, dreadful lawsuits and may be a “cease and desist” letter. So, let’s talk about making your handyman business legit.
Choose the right business structure
Your business structure is like the foundation of a house- a weak one can collapse. There are two routes for a handyman business:
- Sole Proprietorship– Simple, cost-effective and one man army. Everything will be your personal, assets, profits, losses, criticism and rewards.
- LLC– More complex and requires formal paperwork but it keeps your personal assets safe. Plus, it adds a touch of professionalism, making it more legit.
Registering your business name and getting an EIN
Yes, your business needs a name, and no, “Handy Manny” is not anyone you will remember. Your business name sets the tone and identity of your handyman business- make it catchy and be professional.
- Registration of your name– Check your state’s database to ensure your business name isn’t already in use. You can trademark your business if you’re feeling fancy.
- Getting an EIN– Think of it as a Social Security number for your business. EIN is compulsory for taxes, opening a business account and hiring employees.
Understanding licensing requirement
Unlike wielding a hammer, navigating through the legal requirements can be an actual headache. Licensing laws change from state to state, so do your homework.
- General license vs Speciality license– In some states you’ll need a general contractor’s license to perform specific jobs like plumbing, HVAC or electrical work.
- Handyman-Specific license– Some states have “handyman exemption” which allow unlicensed work up to a certain value which ranges around $500 to $1000.
- Bonding– Not legally required in all the states but you can show it to clients to secure financials.
Getting permits and legal compliance
Ignoring permits is like parking in a “no parking” zone. It can seem fine until you hit them with a fine.
- Building permits– This permit is required for major structural work. Your client should secure them but you might need to guide them through it.
- Zoning laws– Make sure your handyman business complies with the local zonal regulations, especially when you’re working out of a home office.
Registering and legally setting up your business
If you think skipping insurance to save a few bucks is a good idea then imagine accidently flooding a client’s basement- insurance suddenly sounds right. Insurance for a handyman business is a must.
Liability insurance
Accidents happen- a shattered window, paint spill on $3000 rug and a cut pipe. Liability insurance saves you from paying out of the pocket and protects your reputation.
General liability insurance for covering accidental property damage, injury and legal fees if the client decides to hire a lawyer.
Coverage limit is provided to ensure all the policy covers at least $1 million especially if you are handling high-end clients.
Worker’s compensation
Thinking of expanding handyman business and hiring help? You need to prepare some paperwork for worker’s compensation.
It will cover all the medical expenses and lost wages if an employee gets injured during the job.
Some states make it compulsory to have workers compensation if you hire employees.
It also protects you from being sued by an injured employee, thus saving you from devastating legal fees.
Tool insurance
Vehicle is practically your mobile workshop and tools are your lifeline. Insuring them is like installing a deadbolt on your front door- smart and necessary.
Commercial auto insurance will help you insure your vehicle primarily for business. Personal auto insurance won’t cover accidents though.
Tools and equipment insurance protects you against theft, loss, and damage of essential tools.
Investing in tools, equipment and work vehicle
Starting a handyman business without proper tools is like entering into a sword fight with a butter knife. Ineffective right?
If you want to avoid this embarrassment and start a handyman business that’s efficient then investing in the right gear is crucial.
- Essential tools– You don’t need a tool collection that rivals a hardware store but must have the basics. Stock up drills, hammers, screwdrivers, wrenches, measuring tapes, levels, pilers and utility knives. Pick power tools like circular saws, cordless drills, and impact drivers.
- Organizing tools- Ever wasted 20 minutes finding one screwdriver that was in your back pocket the whole time? Avoid “where’s my tool?” panic and organize the equipment. Use a tool belt or a rolling toolbox to keep everything in order.
- Choosing a work vehicle– Forget trying to squeeze a ladder into a sedan- it’s a biggest logistics nightmare. Invest in a van, truck or find a space for your tools and equipment. Wrap your vehicle with your business logo and contact details. Avoid reckless driving while sporting the branded ride.
Setting up business operations
Thinking to start handyman business is more than just fixing things. It is more about maintaining a professional, organized approach to client management. The right system can help you avoid missed appointments, unpaid invoices and double bookings.
- Scheduling and invoicing software– Spreadsheets might work a while for you, but you need sophisticated tools as your business grows. Use platforms like Jobber, Field Promax to schedule jobs, track payment, send invoice and manage client communications.
- Managing client communication– Be responsive. Always answer the calls faster than a pizza delivery to stand out from “handy ghosts” who disappear after the first inquiry. Use templates smartly to minimize miscommunication.
Delivering Quality Service and Building Reputation
Building a reputation in the handyman business takes time, effort and a ton of patience. The key to becoming the local handyman hero is simple: show up on time, complete your work with utmost quality and don’t treat your clients like your friends.
- Timeliness- Arriving late at work is a rookie move. If you say you’ll be there at 9 AM, be there at 8:59 AM.
- Quality work- No one’s expecting you to build the Taj Mahal, but do the job right the first time. Double-check your work, clean up well, and leave the place better than you found out.
- Professionalism- Communicate properly- if there is a delay, mention it. Avoid ghosting clients when things go sideways.
- Guarantees- Offering a service guarantee can boost trust. When clients know you stand by your work, they are willing to recommend you.
Scaling and Growing your business
Now when your handyman business is booming it’s time to expand smartly while maintaining the quality.
- Hire reliable workers- As tempting as it is to hire your cousin that believes in DIY, aim higher. Get skilled and reliable ones that won’t scare your clients away.
- Expanding services- If you’re comfortable with basic tasks, consider adding specialists like electrical work, plumbing or remodeling.
- Partnering with contractors- Network with general contractors, property managers and real estate agents. They often need a reliable handyman for projects that can handle themselves. Expanding your network is an important part of starting a handyman business and growing it.
- Consider franchising- If you’re a rockstar handyman and business-savvy person, franchising can be your golden ticket. It’s like having branches of your work at multiple locations.
Conclusion
Now, you have the tools, business plans, legal setup and trusty work vehicle that doesn’t scream “I’m figuring this out!” The journey to building a successful handyman business is not smooth- except a few screws and mismeasured shelves along the way. But if you can fix a leaky faucet, manage clients and set prices, you’re already ahead of the most.
Being a handyman isn’t just about swinging a hammer- it’s about building a reputation, running business, and connecting with clients. So go out there, tighten the doorknob and make sure your ladder fits in your van.
To Know More about the Features and Pricing, Contact Field Promax Now!
Originally Published at – Field Promax (How to Start a Handyman Business)
