Everyone dreams of being their own boss and building a business that makes them proud. Sometimes the only thing stopping people is not knowing how to start.
If you have basic repair and construction skills, you may be ready to start your own handyman business. Following these five steps can get you started on a profitable and enjoyable business that you will be proud of.
1. Determine Which Services You Will Offer
No single person is capable of doing everything. One of the best ways to begin a business a by focusing on the type of work you enjoy and do well. Not only will you love your job, but your business is also more likely to be successful if you offer a limited range of services that you can do exceedingly well.
While you are establishing your service offerings, be sure to consider any licensing or permitting requirements that you may need. For instance, most electrical work requires a state electrical license. Other handyman services such as lawn care or masonry work do not require endorsements and can also be very lucrative.
2. Get Your Gear
Be sure to assemble all the tools and equipment you will need to do the jobs you are hired for. In addition to a full complement of tools, you will need a plan for how to transport and store them safely. You may need to consider a storage shed or garage for geat.
Additionally, you may need trucks that can provide reliable and professional-looking transportation. Contacting a truck rental agency can help you find solutions to whatever transportation company your new company needs.
3. Define Your Customers
Try to target customers that you actually enjoy working for, and who are willing and able to pay fair rates for your services. This creates a happy experience, which creates word-of-mouth referrals, which in turn builds your business.
Spending time figuring out who might benefit most from your services and who you actually want to work for, you can target your marketing efforts and build a profitable business that you enjoy. You can get help from a business broker to find a business already in progress to buy, if you don’t want to start from scratch. People start a business and lose passion for it but their loss is your gain!
4. Set Your Pricing
The handyman business can be surprisingly profitable if you set your pricing properly. Having a good grasp of your finances is essential. Many people find that setting fair pricing is the most difficult part of starting a business.
Deciding how much to charge is one of the most difficult parts of starting a handyman business, and overcoming the psychology of limiting one’s worth is the first step to being able to charge an appropriate rate. Be sure to consider things like your experience level, work efficiency, ability to sell, reputation, and professionalism. This can help you conquer imposter syndrome and set rates that allow you to turn a profit.
Once you have achieved that, establish your starting rate. Consider the cost of your overhead, including supplies, rentals, marketing, licensing, and other costs you pay to keep your business going. Also, determine what the going rate is in your region for the work you are looking to do, and be sure you pay yourself fairly for your time and expertise. Do not succumb to the temptation to undercharge in order to get customers, You will be dissatisfied with the experience, will not work to your best ability, and will soon realize that lower pricing that does not cover your costs is unsustainable.
5. Begin Marketing
At this point, you should have a good idea of the services you are going to offer, who will buy them, and how much you are going to charge. You also have your tools and equipment ready to go. The next step is finding customers.
Handyman services are in high demand, and people are actively searching for your services every single day. A marketing plan can help you find these customers and build a successful business. Focus on the types of clients you identified in Step 3, and meet them where they are: Facebook, local coffee shops or newspapers, or your religious organization.
Starting your own handyman business can lead you to a career you will love and a profitable company that you will enjoy.