Do you know if you have the right idea on how to start a handyman business that you could turn your passion for making and fixing things into a money making venture?
Putting your handyman skills into work and making a good amount of money, even turning it into a full-time income stream may be possible.
You only need to follow some simple steps and get your ideas right then give your business time. Remember nothing happens overnight all businesses take time to establish and prosper.
This article goes to some depth in explaining what you need to do, to get your business started and off the ground. Towards the end I will be sharing my preferred method of making money from home.
What Is It That You Want To Offer?
What do you specialize in, what are you offering to the marketplace. Even with handymen all over town, you still could find the one thing that they aren’t doing that you can be best at, thus giving you the edge.
At this stage, does your business have a range of services, or one specialty area that you will make focus on.
Zeroing in on one type of service isn’t a bad idea, it could give you an advantage as long as there’s a market for that particular service around you.
What travel radius are you willing to cover, which could depend on the market availability in your local area, or the travel time and expenses at your disposal.
Check Out What The Other Handymen Are Doing
While it is a good thing to be the only handyman around for miles, you still need to monitor what others around you are doing to ensure the best chance at success for their businesses.
Doing your research to see what is working well for others will give you a hint as to what to expect as far as your own business goes. Also, this allows you to have an idea of how to tweak and twist things around to adapt.
To do this, the following tips will come in handy;
- Check what they are doing to market their services
- Visit their website to figure out the services they are listing and their price rates
- Have a local handyman give you advice on what to do and how to do it best
The idea here is, don’t fly blind into this business, a little insight could save you a great deal of time, and effort too.
Find Out If There Is A Market Gap You Can Fill
One thing for sure is, too often, people have those projects that they would love taken care of around the house. However, most of them don’t have the right handyman skills, while others would rather have someone take care of them.
Thus, finding handyman jobs shouldn’t be impossible, you just have to know where you fit in, why, and how best you can serve your clients. Even so, before you can get out there and present your skills to the world, it’s wise to do a bit of footwork to find out if there is a suitable market for your services.
No matter how well you can swing a hammer, if there’s a handyman around every block, then you will be stepping into a saturated market, and thus it will be difficult to make any headway. So factor that in before taking the plunge.
Take Time To Understand Your Potential Clients
Now that you understand the market that you will be operating in and the specifications for your business, you also need to understand your customers as well.
Prepare to meet different people, with different preferences as well as different expectations. This is more of an off the fly experience since each customer will be different in most cases.
So you must learn to understand the needs of your customers and try as hard as you possibly can to meet their expectations in every project. Eventually, this will fetch you more tasks, meaning more money, and growth for your business.
Get The Right Tools For The Job
Even with all the preparation and everything, a handyman won’t be successful in business without the right tools. Thus, taking an inventory of the best tools and equipment for the job goes a long way to enabling you to offer your customers a service that is worthy of their money.
Investing in tools beforehand not only helps you prevent wasting time once you hit the road, but it could also help you secure more projects. From paint sprayers to pressure washers, saws, hammers, everything that counts.
May at the beginning of your business you can use your existing gear that you have plus some second hand stuff may do the job just fine until the money starts coming in to allow you better gear
Estimate The Necessary Capital Needed
While still at it, it’s important mentioning that besides buying tools, you might need to invest in a few other things as well, such as licenses and such.
However, the good news is that you don’t have to bear insane startup costs, some of the less necessary ones could be added on the go.
Nevertheless, it’s still important to draw out the minimal budget you need to get started so that you can be sure you are well prepared for the task ahead.
Structuring Your Business
Another important consideration here is whether you want to set up your business as a Sole Proprietorship, as a Partnership, or as a Limited Liability Partnership. This becomes important to think of beforehand, as it should make it easier for you when the time is ripe to license your business.
One thing to note here is that as much as you might want to set out on your own, having a partner to work with, or even a team, could give you leverage that you would otherwise be missing.
Although usually money is tight at the start plus not forgetting, you will probably need to be the worker, the manager, the marketer, and all other roles wrapped into one for a while..
Licensing And Regulations
With everything else taken care of so far, the next crucial step is to figure out what local regulations are, as well as what licensing you will need to run your business without any legal challenges.
While in most cities handymen don’t necessarily need a permit or license to operate, it’s still important to check with your local administration to be sure of what is expected of you.
This will allow you to be aware of the projects that you can take on, and those that you can’t. Most times there are restrictions on jobs over a certain dollar value.
Although it might not be all that necessary in someone else’s area, it might not be the case for you. So get out there and get the facts right. And if you have to, make sure to run your business by the book, it may save a lot of heartache in the long run.
Get Your Business Insured
Getting an insurance cover for your business is another crucial step since you have tools that you need protecting, you also should protect yourself, and of course, your team too (if any.)
Besides, some home as well as business owners who are looking to hire you could want to check whether your business is insured, which will be a big plus in such a case.
You can consider a lot more insurance options for your business besides these. Just talk to your insurance provider about what will be best for your business then make the right choice to suit your business..
Take Care Of The Finances
All said and done, when you finally get down to business and the money starts flowing in, you will need a way of taking care of your business finances.
It’s advisable to get a bank account for your business, very important to separate your personal or family finances from those of the business.
With the right finance management, you will be able to scale up your business, get employees if necessary, and invest in high-tech equipment. While business brings in the money, money becomes vital to the business’ success in the long term.
If you have been stuck trying to figure out how to start a handyman business, this short guide has shared just a few of the things you need to do to get your business set up for success.
While there are many people who make good money being a handyman as a side hustle there is a lot of costs involved in setting up these sort of businesses.
I have worked in this area myself and enjoyed it immensely but as I now get a bit older and the body isn’t as strong as it once was, I am open to other ways of generating income that wont bust my back.
The one thing I hated about working for myself as a handyman/contractor was the huge amounts of government and licensing costs associated with running my own business. It really annoyed me, so, is there another Way?
My Preferred Method Of Making Money From Home
I believe affiliate marketing and the online training and support programs available today give each of us an opportunity that didn’t exist not that long ago
The idea and the execution are quite simple, you join Wealthy Affiliate who will help you build and operate your own website and online store on a day to day basis
Then you collaborate with affiliate programs, and once setup on your site, for every sale you make you will be getting your piece of the pie in the form of an affiliate commission. It’s a win-win!
And it gets even better, since joining Wealthy Affiliate is completely free, and you get top-of-the-bar training to get you started in your affiliate marketing journey and to top it up, you get all the tools necessary as well as round the clock support to better position you for success.
Don’t hold back in this time of opportunity, I don’t want any money from you this is simply an idea. It’s Free and I recommend you take a look here now at Wealthy Affiliate. At no cost it could be a life changing decision
For any questions or for further advice on how to get started with affiliate marketing, leave me a comment in the comment section below and I will get back to you at the soonest possible opportunity.