Doing repairs at home is inevitable. Something eventually will break. But many people prefer to avoid having to fix things themselves. That’s where a handyman is useful. Having someone come in and do whatever needs to be done while offering an affordable service is always a great alternative.
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Things to consider how to starting Handyman Business
There are some things that you need to think about before starting a handyman business, to ensure you’ll have a high probability of being successful.
- 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 fixes, home decor such as painting. You can offer several of these services or you can focus on something specific. You should also decide if your services will be offered in residential areas or if they’ll be for commercial businesses.
- Develop a business plan which details all the aspects of your business. Make sure to highlight how the services you offer are different from what other similar businesses 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.
- Set up an office location. This type of business can be run from home. But for efficiency, it’s recommended that you find a dedicated office space. Get all the furniture, equipment and supplies needed for your business space.
- Get the tools that you’ll need. Once you have determined what services you’ll be offering, acquire all the necessary tools.
Steps to starting a handyman business
How to starting a handyman business: Here are some steps to help you get started on your handyman business:
- Get a business license. You’ll need to choose a name for your business and you’ll need to make sure that the name isn’t already taken. Then you’ll have to get that business name registered in your state. Obtain a license in the city where you’re going to be working. All this can seem harder and more 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 some basic work without having a handyman license, depending on the amount you’ll be charging and what type of work it is.
- Get business insurance. At least a basic insurance policy is recommended. This shouldn’t cost more than $1000 dollars a year. That way, you and your business are protected in case of an emergency. It’s always best to get insurance, and then you can advertise that you’re “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 need to purchase a business truck or van to transport all of your tools and equipment to the various work locations. It can be something used and affordable, but make sure that it runs well and works fine. 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, you’ll never be able to attract any clients. If your initial budget is low, use Craigslist and other free job listing sites. Such websites are good ways 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 they might even give you a domain name for free. Even if you have just a basic web page, you’ll have internet presence and it’ll be another way in which people can find your business.
Choosing a name for your business
One of the most important things you’ll have to do when you’re starting up your handyman business is coming up with a name for it. You should choose a name that projects the right image, since the name not will not only identify your business, but it will also define it and brand it.
Here are some recommendations you can follow to create an appropriate business name:
- Make a list of words that represent your business. Think about the types of services that you offer, as well as how your business is unique, if you do same-day or emergency calls, or if you focus on a specific market. Also, try to choose a name that’s good for your business, but won’t prevent you from adding more services in the future. For example, if the name of your business includes “Handyman Inc.”, and then you want to add cleaning services later on, that name won’t reflect what other services you offer.
- Find out if the name you want is already taken at the U.S. Patent and Trademark office. Using a name that is already trademarked could result in a lawsuit and you will need to change the name of your business, which means re-branding it. If you pick a name that’s already trademarked, there is no way of knowing for sure if whoever holds that trademark will ever find out, but it’s best to avoid any such problems altogether and come up with a unique name.
- Check to see if your chosen business name choice is available as an online domain name. All businesses, even local ones, should have a website.
Once you have found the perfect name for your handyman business, protect it by registering your company with the secretary of state’s office and trademarking it.
Build a business that will make a profit
Having good business sense is as important as being skilled and knowledgeable when running a successful handyman business. You are selling your services and yourself as a business person. Learning to price your services and estimate profits, as well as managing time and money, are critical to the success of your business.
In order to make sure your business will be profitable, you should:
- 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 cost of parts and labor. You have to take into account travel time to the location where the work will be performed and business costs such as insurance and office space.
- Mange time effectively. For a project to be profitable, it’s important that it’s completed within the time given. Track the average time to complete various types of project so you can include provide an accurate time a price estimate to clients.
- Bill additional time and expenses if needed. If unanticipated expenses occur, you have to bill for them. If issues that were not seen when the estimate was given arise, let your client know about it and provide a revised price based on the additional time and materials. Don’t make this a habit though, as this may cause customers to feel deceived. What you can do is include an extra percentage on the bill to offset any additional expenses that may come up during the project. If there are no additional expenses occur, you can bill the lower price. This will leave a good impression on customers and will probably have a good effect when one customer tells other potential customers about being charged less than the estimate.
- Manage your money. Hire an accountant or use accounting software like QuickBooks to see where the money is coming from, who still owes you money and where the money is going.