Starting Your Own Handyman Business: A Step-by-Step Guide
If you’ve always been good at fixing things around the home and you want to monetize your skills, then starting a handyman business could be the perfect path to pursue. Although you might be uncertain about the steps you need to take, this article covers the key steps to launching your own business. Stick around to discover all the essentials that you need to take care of you on the road to entrepreneurship.
Your step-by-step guide on how to start a handyman business
Ready to explore what you’ll need to get started? Below is a brief outline of the key steps you need to take.
1. Write a business plan for your handyman business
Your handyman business plan will be your road map to success. This is where you put all your ideas down on paper to ensure that you’re covered from the launch of your business all the way through to operations.
A business plan will contain all the elements of your business. This includes the nature of your business, your marketing plan, your financial projections, your team, and any other information lenders require to offer you funding to get your venture off the ground.
While a business plan may seem as though it’s only created for lenders, it’s also a document you will want to continuously revise as your business scales to account for growth and new opportunities.
2. Secure the necessary handyman licenses in your region
Step two in starting your handyman business includes securing the necessary licenses to operate as a handyman in your state or region.
Every state has different business requirements such as licenses and permits to ensure that your business is regulated and complies with all laws.
3. Acquire capital for your handyman venture
There are several ways to acquire capital for your handyman venture, and these include using your own savings, getting help from friends and family, entering a partnership, or acquiring lending from a financial institution. However, that’s only the first step.
You also need to focus on solid financial planning. For this reason, you need to learn how to manage your cash flow and this will benefit from setting up accounting systems.
You’ll also need to understand your tax obligations and implement strategies for financial growth and stability.
A part of the latter process will involve carefully planning your pricing structures so that your business thrives while remaining competitive.
4. Select the handyman services you will offer
Although handyman services fall under a broad umbrella, there are many areas in which you could specialize.
Examples include furniture building, assembly, and wall anchoring; painting/staining walls, cabinets, and furniture; bathroom and kitchen leak fixes; tile installation, repair, and maintenance; childproofing and accessibility improvements; gutter and window cleaning; and more.
Often, offering a niche service is a good way to help you specialize and become known for the quality of your services.
5. Acquiring essential tools and equipment for handyman work
Determining the type of handyman services you will offer will dictate the essential tools and equipment you will need to carry out your work on a daily basis.
6. Identify your target audience
It’s also essential to identify your target audience. When you do your market research into the demographics you will be serving, you will be better able to tailor your marketing efforts for more visibility and more paying customers.
7. Establish pricing for your handyman services
Although we briefly touched on the importance of pricing for your handyman services, this requires a separate discussion.
Depending on the nature of the services you will be offering, you may want to charge per hour, per job completed, or a fixed rate. This strategy is important over the long term because it will determine whether your business efforts are sustainable.
8. Register your handyman business
The next step is to get the legalities in order by registering your business. You need to choose the type of business structure you will use and determine the levels of responsibility and liability you are willing to take.
Some business structures separate a business from an owner’s personal assets and liabilities while others combine these. It’s a good idea to consult with a lawyer to see what your options are.
9. Obtain insurance for your small handyman business
At times, things can and will go wrong. That’s why you need to ensure that the services you provide are insured. This will give you and your clients more peace of mind.
10. Draft a service agreement
You also need to draft a service agreement that will outline the terms of service you will offer to your clients. This agreement should cover all possible scenarios and clearly outline your scope of duties. This is an important way to protect yourself in the event of legal action or disputes.
11. Launch your business marketing campaign
It’s essential that you market your handyman business so that you can secure paying customers. For this purpose, you will need an online presence.
The most affordable way to achieve this is through a free Google My Business local listing. However, you will also need to invest in the design of your website and getting your social media channels up and running.
Search engine optimization (SEO) for local businesses is another essential element that is a must for any marketing plan and this includes introducing content marketing to your offering.
Also, don’t underestimate the power of email campaigns that you can launch to your current audience and to prospective clients.
12. Implement exceptional customer service strategies
As your business grows, you’ll need to manage your customer relationships. However, this takes time, effort, and resources.
To help you manage this process better, it’s highly advisable to use customer relationship management (CRM) software to maintain long-term customer relationships.
Furthermore, CRM software can help you improve your strategies for upselling or cross-selling other services you may offer. All of this can be achieved with the help of ServiceOS.
13. Expand your team and hire additional handymen
As your handyman business scales and grows, you may consider expanding your team by hiring additional specialists to join your business. However, you may also consider expanding your service offerings or even franchising your business.
In order to take advantage of your growth and manage a remote team in the field more effectively, field service management software is the ideal solution to help streamline your operations.
14. Optimize your business operations
Speaking of streamlining your operations, you’ll need to manage your inventory of tools, equipment, and spare parts. You will also need to implement efficient scheduling and job management practices. With the help of ServiceOS’ business automation tools, you’ll be all set.
15. Build brand recognition within the business community
Finally, to boost brand visibility and recognition within the business community, you might consider networking within the industry and participating in the community through sponsorships or events to build more trust in your brand.
So, if you’ve always wondered how to start a handyman service, these tangible steps will help guide your journey ahead.
FAQs
Are handyman businesses profitable?
Handyman businesses can be a profitable venture to embark on as the industry in the US is worth $256 billion this year alone. On average, handyman businesses earn around $540,000 in gross revenue per year.
Does a handyman need a license?
Depending on the services you’re offering and the value of your work, you may need a license to operate your handyman business. However, most states have exemptions called “Handyman exemption” or “Minor work exemption”, which you will need to study in accordance with the state you are located in.
How much does it cost to start a handyman business?
The average cost of starting a handyman business in the US is around $23,428. This will depend on the nature of the business, the tools and equipment you require, securing insurance, paying your teams, branding, marketing, and advertising, and other costs that are part of your business launch process.
Let your skills shine, your services excel, and your business prosper with ServiceOS
Embarking on the journey of starting your own handyman business is an exciting venture that requires careful planning and dedication. By following the comprehensive guide provided, you’ve laid the groundwork for a successful enterprise.
Remember, integrating a robust field service management system and an efficient online booking system, like ServiceOS, into your business operations is not just an option—it’s a strategic move. These tools will streamline your operations, enhance customer satisfaction, and ultimately, contribute to the growth and sustainability of your business.
As you step into the world of entrepreneurship, armed with the right tools and a clear plan, your handyman business is not just a dream, but a viable, thriving reality waiting to unfold.