How to Start a Handyman Business

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How to Start a Handyman Business 

Do you think you have the skills needed to make the perfect handyman? Starting a successful handyman business takes more than just skills and a great ability to be handy! It requires business know-how and a good mind for finances; if you want to turn your small business dreams into reality, you need to lay down the foundations of your business quite carefully. Whatever your business model, your first step should always be trying to understand the basics of going from a skilled handyman into a long-lasting businessman.

Conduct Market Research

Before you launch your business, remember that one of the most common mistakes all business owners make, not just handymen, is to start a business without seeing if there is a market for their services. You might think you have your fingers on the pulse of your neighborhood, but to make a proper business you need to be making enough income to support all your business expenses.

It makes sense – if you live in a city that you think has loads of people that need help, you’ve got a gold mine on your hands unless there’s a handyman on every block, in which case you’re in for a tough ride. If you find a town without a handyman, that’s in dire need, you will have a far easier job. You need to find out if there is a demand for your services, a demand that isn’t being taken by others.

That’s why, before you actually start your business, it is worth taking the time to do a little market research. You can look into how many handyman businesses there are in your local area and what type of services they are offering. You should also be looking into the demand for handyman businesses in your area – one easy way of doing this is by researching the number of local searches there are for the service.

You should also use this market research as an opportunity to understand what the market is – for example, the rates that people are charging for different services. You should then scour social media for information as to which marketing tools work, as well as what others are charging. This knowledge gives you a head start. If the market is overcrowded or non-existent, seriously consider whether it’s wise to continue with the business, as it will be very expensive and might even be loss-making if you don’t have the demand.

Get All the Paper Work in Order

Before you are able to start operating as a handyman you will need to make sure that everything is legally in order. You will need to:

Get your business license – do to this you will need to choose a name for your business, get it registered in your state then obtain a license from the city you are going to be working in.
Get business insurance – this shouldn’t be too difficult as there are some services online that can help you find the best insurance for your specific business – make sure you do a price comparison between insurers!
Get licensed – in order to start operating, you need to have proof that you meet all of the handyman license requirements of the state you want to operate in.

Create a Business Plan

A business plan should deal with how the business will run. It should answer the following questions in a comprehensive and concise document:

How you will fund the initial investments in equipment, company incorporation, and marketing?
How you will find new clients?
How much you will charge?
How much profit you will be making?
Where will you be working?
How many employees you will have?
Where will you get your work?

You should also have aims in your business plan that you should regularly check back on. These are called key performance indicators and are used to demonstrate how effectively your plan is being actualized. If you cannot meet many of these KPIs then you will need to strategize again and go back to the drawing board.

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