Are you a handyman who doesn’t have time to do everything? Not any longer! This article will teach you how to start a handyman business. We’ll provide you with everything you need to start and run a profitable business, from business setup to marketing and promotion.
What exactly is a handyman business?
A handyman business is one in which the proprietor performs all of the work himself, from establishing the company to marketing and advertising its services. That can be any company, from an internet store to a brick-and-mortar store. The essential thing is that you understand what you’re doing and have a solid team behind you.
Let’s Look into the complete guide of how to start a handyman business.
Step 1: Create a business strategy for your handyman services.
A business plan is an excellent method to explain your vision for your handyman business. It also aids in the identification of your strengths, shortcomings, and rivals.
- Your business strategy should include the following items:
- Your company’s name
- The handyman services you want to provide
- Who is your target market? Who are your key competitors?
- A marketing strategy
- A SWOT analysis is performed (strengths, weaknesses, opportunities, and threats)
You should also include a financial plan detailing your launch costs, pricing strategy, and how you intend to support your firm.
Related: – 7 Ultimate Things Every Entrepreneur Must Do After Creating Their Business Plan
Step 2: Create your website.
We are confident that having a dependable website that can be found on search engines will help you grow your business.
It will assist your consumers in developing trust and will undoubtedly set you apart from your rivals, as well as bring you additional work.
Your website must have information about the organization, services offered, work requests, forms, client testimonials, and license information.
Your website should be SEO optimized so that your consumers can quickly locate you online.
The primary goal of having an SEO-built website is to rank higher in search engines so that you can receive more work.
Step 3: Register your handyman company and obtain business insurance.
Following that, you must register your company and obtain business insurance. To begin, you must decide whether you want your new company to be registered as a:
- Partnership for a sole proprietorship
- Corporation for a limited liability business (LLC)
- Most handyman businesses begin as sole proprietorships since they are the simplest and most basic form to utilize if you are starting on your own with no partners or workers.
Once you’ve registered, you’ll also need a company license. You will be able to manage your business as a result of this.
In terms of liability, you’re taking a risk by giving services in your clients’ homes, even if it’s to mend a squeaky door or change a lightbulb. That is where handyman insurance comes in.
It would help if you had general liability insurance at the absolute least. However, depending on the nature of your business, you may also require additional forms of insurance, such as worker’s compensation insurance or car insurance.
Step 4: Obtain handyman licenses and permissions.
When it comes to handymen, different states have different licensing requirements. Some states need a general contractor’s license, while others have no conditions.
Check the handyman license requirements in your state and city to ensure you may legally offer your services.
It’s also a good idea to look into any licenses required for certain activities. Because a handyman often handles little work, you should grasp what is and isn’t within your purview.
Step 5: Obtain funding
The prices of starting a handyman business vary depending on what you need to get started.
For example, you certainly have the essentials, such as a hammer, electric drill, and a couple of pairs of pliers, but do you need to update or invest in higher-quality versions?
What about the cost of a company car or marketing and promotion expenses, such as developing a handyman website or employing a contractor to manage your Facebook and Instagram pages?
Begin by calculating all of your handyman company beginning costs. If you don’t intend to recruit workers or contractors right away, rent an office space, or purchase a large amount of pricey, new equipment, your expenditures should be reasonable.
Once you’ve determined your total, contemplate how you’ll pay for it. Personal savings, a small company loan or credit card, or even a grant might all be used to fund this.
Related: – 10 Ways to Raise Money Fast: The Ultimate Guide for Your Funding Goals
Step 6: Organize your accounting.
Accounting for small businesses consists of a range of activities, including:
- Opening a business bank account
- Keeping track of costs and payments
- Payroll administration for workers and contractors
- Creating handyman invoices
- Setting aside taxes
It may not make sense to engage an accountant to accomplish these tasks for you at first. Instead, utilize accounting software like Quickbooks, which can handle almost any accounting work without the cost of a full-time accountant.
While you will have to do some work manually, accounting software such as Quickbooks makes managing and completing accounting duties easier.
Step 7: Plan your pricing plan for handyman services.
Pricing is critical to the profitability of any handyman business. First, you must decide which handyman services you intend to provide. Will you, for example, specialize in a particular area or provide general house repairs?
Once you’ve decided where to concentrate your efforts, you can devise a handyman pricing strategy. That should be impacted by your services, rivals, the hourly rate you must charge, and any additional expenditures or discounts you want to provide.
Having a plan in place before you begin contacting potential clients can help you give consistent and accurate estimates and bids.
Step 8: Create a marketing and advertising strategy.
Once you’ve determined the services you want to provide and who needs them, it’s time to develop a marketing and advertising strategy.
- Many handyman firms employ a combination of:
- Pages on social media
- Websites
- Listings on Google Ads and Yelp
- Flyers
- Business cards
- Emails and postcards
- Programs for referring others
- Choose the tactics that you feel your target market will prefer.
Step 9: Recruit more employees and build your handyman business.
Being your boss is one thing, but as your handyman business expands, you may also need to delegate authority to others.
When your employment calendar becomes too full for you to handle, it’s time to downsize. Take things slowly and deliberately.
Consider if hiring workers or contractors makes sense for you and whether you need to update or change your company organization to meet your needs.
Step 10: Install your company phone system.
Getting a phone for your business is one of the most acceptable methods to keep your personal and professional lives distinct and private. That isn’t the only advantage; it also helps you automate your business, provides legitimacy, and makes it simpler for potential consumers to identify and contact you.
There are several options accessible to entrepreneurs that wish to set up a company phone system. We analyzed the best firms and graded them based on pricing, features, and simplicity of use.
Hopefully, the above steps explain how to start a handyman business.
Conclusion
Now that you have understood how to start a handyman business with this comprehensive guide. You’ll be able to sell, set up, and operate your business with ease.
