How to Launch a Handyman Business

Becoming a professional handyman seems easy enough, but there’s a lot more to it than you might think. Setting up any kind of business is a tall order. Fortunately, the process breaks down into these steps.

1. Pick Your Best Services

It’s okay if you don’t know everything about every aspect of repairs. Not every handyman can be good at plumbing or electrical work, and those specialized jobs require extra state licenses anyway. It’s far easier and more profitable to focus on the jobs you’re best at and advertise them. You’d be surprised how quickly your appointment book will fill up just on what you’re best at doing.

2. Build and Maintain a Digital Presence

This is just a small part of the work needed to get your name out there and get your first job done, but it’s an essential part of keeping your business afloat in the long term. Positive Networx reviews demonstrate how success is gleaned from feedback. This customer feedback is often more than enough to persuade someone to reach out and ask for your services. Working on your digital presence is also an excellent way to check if your tentative business name is already being used before registering. If you see a nearby handyman business using the name, you’ll need to find another one.

3. Define Your Clients

You need to pick your customers in the same way you choose what jobs you’re selling. If you target the customers you’ll enjoy working for, then everyone’s happier, and they’ll pay slightly higher rates than your competition due to your excellent service. If you only accept every client without factoring in how much they’re willing to pay for your adeptness, your business will suffer. The right customers also mean referrals and repeat business, and those are the keys to your firm’s success.

4. Figure Out Your Costs and Expenses

Believe it or not, most handyman businesses can get started with as little as $800. Your main initial costs will be for standard home repair tools, marketing materials, and small business insurance. If you need licenses, those are also fairly inexpensive. Your most significant expenses will be for the repair, maintenance, and replacement of both your tools and your vehicle in the long term. Other regular costs include keeping your insurance and licenses current.

5. Figure Out Your Hourly Rate

You might be tempted to charge project rates or arbitrary hourly rates, but you’ll only end up losing money by doing that. What you should do is think about how long it takes you to complete simple projects like gutter repairs, paint jobs, drywall repairs, and so on. If you aren’t sure of the answer, ask another handyman in your area how long they usually take. Once you’re sure of the average duration, you can charge what you need to make a reasonable profit. The average hourly rate for a contractor in the United States is $60 an hour, so you can start there and adjust as needed if you’re stuck on what to charge.

After you’ve got these basics covered, all you need to do is get your tools ready and head to your first project. You’ll be surprised at how quickly you can make a lot of money just by using your hammer, saw, and screwdriver like you do at home.

The post How to Launch a Handyman Business appeared first on Home Business Magazine.

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