Are you already good with your hands? You might be able to take your hobby and turn it into a successful business. Keep reading to learn more about how you can start your own handyman business, be your own boss, and actually make money.
If you’ve ever dreamed of setting your own schedule and being in complete control of your own income, you have probably thought of starting your own business. And, if you enjoy home improvement projects and various home repairs, starting a handyman business is the way to go.
You’ll determine your own pay rates and choose the types of jobs and customers you want to work with, not to mention that you’ll be doing something you love.
But, what does it take to start your own handyman business? It’s really not too inclusive and you can get started right away.
Starting your own business can seem a bit overwhelming at first. But, once you get through this research, you’ll be well on your way to starting your very own handyman business. Keep reading to learn more.
Tips for Starting Your Handyman Business
One of the first things you should do before you think about starting a handyman business is to find your niche. Different handy services vary by handyman, depending on your specialties.
Make sure to evaluate your skills and focus your business around your best skills.
Here are some other tips on how to start a handyman business so that you can get well on your way.
Create a Name
Before you can start your business, you’ll need to come up with a catchy name. Consider honing in on one of your specialties and giving it a namesake that will be become your company name. You want it to be something that people can easily remember.
You’ll need to make sure your business name isn’t being used by anybody else in your state before you can obtain a business license.
Get Your Business License
Once you’ve determined a name for your business, you can register it with your state and obtain a business license for your local community. This can all be taken care of at the city level and shouldn’t take more than a couple of days to process. You can find more information about starting a business in your local municipality on your city’s government website.
Get Construction Liability Insurance
One of the most important things you’ll need for your handyman business is construction liability insurance. This type of insurance will protect your business with risk prevention and reducing your exposure to loss. Premiums are affordable giving you a positive return on investment.
Carrying insurance will be a great marketing tool as well. You can tell your customers that you’re fully licensed and insured which can establish trust.
Determine Your Rates
Now that you’re ready to start working, you’ll need to figure out how much you want to charge.
You can determine your rates based on your levels of experience, materials necessary to complete a project, and distance required to get to the job, among other line items. The key is to keep your rates consistent across all jobs so that you can establish with your customers.
Build a Website
Before you start working, there’s one more detail of business to attend to. You absolutely must create an online presence. This means that you at least need a simple website.
There are many free website designer sites that offer simple tutorials for you to get your website up and running in a short time. Make sure you list your contact details and any services that you offer including prices where appropriate.
Invest in a Business Truck
A successful handyman business deserves a trusted vehicle for transporting yourself and your tools from job to job. You don’t need something new at first. Look for a good used truck that will last at least a year while you get your business off the ground, and then you can upgrade later.
And, remember, you can write off the expense on your taxes at the end of your first year in business.
Advertise and Network
Besides advertising on your website and other places online, it’s important to build a network of trusted individuals that will spread the word about your business. These can be other service men and women or even neighbors and previous customers.
It’s also a good idea to know the latest trends so that you can advertise these services when they’re hot.
Don’t Purchase All Your Tools at Once
Of course, you’re going to need different tools for different jobs. But, don’t rush out and buy all of the tools that you think you’ll need upon starting your business. Keep a business account for expenses that come up along the way and only buy tools as you need them.
Also, consider buying used tools when at all possible. Chances are you can find used tools for up to 70 percent off retail prices that will last for several years with proper maintenance.
Hire a Crew
As your business grows, you can think about hiring a crew to perform the workload that you can’t handle. If your handyman business is successful, you’ll be receiving calls for jobs often and you may not be able to fit all of them in your schedule. This is when a crew comes in that you can pay hourly to perform the services that you offer.
Pay Your Taxes
Regardless of how large or small your handyman business becomes, you’ll need to make sure you keep records of your spending and pay your taxes on time. You can write off certain expenses like office space and other expenses that come with owning a business. Don’t forget to log your mileage for each and every job you drive to.
As an added tip, you should do your best to save at least 25 percent of your income to pay taxes at the end of each year.
Starting a handyman service is something anybody over the age of eighteen can do. Just keep these tips in mind when you’re ready to embark on your journey so that you can be your most successful self. Take it one step at a time and work hard and be honest, and you’ll start receiving calls in no time.
If you have questions or comments about getting started with a handyman business, I’d love to hear from you! You may also be interested in advertising on my page as part of your marketing campaign, so we can chat about that, too.