Has anyone ever told you, “Wow, you really have a knack for woodwork projects”, or have you ever thought to yourself “I’m really good at fixing things!”. Then you might want to consider starting a handyman business.
This is great if you are on a job hunt and are having a difficult time, if you are tired of the same old boring nine to five, or if you simply want a side hustle. Whatever the reason may be starting a successful handyman business is very much attainable if you are dedicated and if you are a step in the right direction.
In order to start a handyman business, you will have to answer a few very important questions. Once you have answered these questions then you should be good to go!
WHAT SERVICES WOULD YOU OFFER?
The most important question to be answered is the types of services you would offer. Are you good at electrical work, or are you more carpentry inclined? Do you have expertise in the area of plumbing, or can you do all three? Once you have established this, you can move on to the next step.
WHAT ARE THE LAWS GOVERNING THESE TYPES OF SERVICES IN YOUR AREA?
Across the states, the contracting laws vary and the services you may be able to offer without a license in one state, cannot be offered without a license in another.
It would be very unfortunate to start your business then run into problems later because of licensing so you will need to do your research using this state by state guide.
It is recommended that you do obtain a license though as this will make you more credible and you will have more potential customers calling.
WHAT WOULD BE THE MARKET FOR YOUR SERVICES?
For any business venture, a clear, defined market needs to be established before any capital or time is invested.
If you are in an area where every other house has a handyman, then you should reconsider what services you plan to offer or look outside of that area for a market. It is important to note that competitions exists everywhere and you should not lower your prices just to attract customers.
If you are good at what you do, and are offering a great service, the customers will come.
HOW DO OTHER HANDYMAN BUSINESSES IN YOUR AREA THRIVE?
In order for you to succeed, you must do some research on your competition. Why is it that they are able to thrive while others fail? You will be able to learn a lot about the business by asking questions and by doing some online research.
This will help you to market better, set reasonable prices, learn how to interact with customers, find the highest quality materials at the best prices, and so much more.
You will also need to determine the best rates and work hours based on the competition and your own personal needs and availability.
HOW WILL YOU MARKET YOUR BUSINESS?
Where most handyman businesses fail is in the marketing department. However, based on the research that you have done, you should be able to come up with a good marketing strategy to attract your target customers.
Try multiple ways to market your handyman business from radio ads, television ads, social media ads, a website, newspaper ads, magazine interviews, posters, flyers and so on, to reach more customers.
Once you discover which method/s work best, overtime your marketing strategy will improve and you will attract even more customers.
HOW MUCH CAPITAL WILL YOU NEED TO START UP YOUR BUSINESS?
Unless you already have money saved up, you will probably need a small business loan to start up your business.
Make a list of all the tools such as hammers and screwdrivers along with nail guns and cordless equipment like angle grinders and that you will need then tally the costs to determine how much money you will really need.
Once you have answered all these questions, create a business plan. What are your goals and your expectations? Will this business be profitable? You will also need to get a small business insurance as accidents and property damage are a possibility and it is better to be prepared for these instances. This is crucial for your success.
If you want to start a Handyman business that will last, it is important that you answer all these questions thoroughly to give yourself the best chance of success. Once you have a detailed understanding of what you want and a clear vision of the future, nothing can stop you. Stick to your goal, and work tirelessly towards it. You can succeed.