Homeowners have to develop a special skill set to handle all the day-to-day demands of maintaining their property. A self-sufficient attitude is essential to cutting the costs associated with repair, and, naturally, most people pick up a few things along the way. You might count yourself among these people.
You’ve fixed your fair share of squeaky floorboards, creaky doors and leaky faucets, and you’re ready to take the next step. Other homeowners are in need of your abilities, and many of them likely live in your area, or even next door. The only obstacle between you and success is a strong business model.
With this in mind, here’s a simple guide for starting a handyman business out of your home.
1. Learn the Laws in Your State
Compliance with the law is critical to your success, as some services require a contractor’s license. You don’t want to move through the entire process of starting your business only to find it isn’t legal. In many cases, you won’t need a license, but contracting laws change from state to state.
Before you continue with the next step, visit your state’s contractors board website and consult the FAQ for laws related to small repairs and maintenance.
2. Decide Your Range of Services
You don’t necessarily need to offer a wide variety of services to attract customers. You’ll find it’s just as profitable — if not more profitable — to offer a limited range of services instead of spanning several trades. Start with what you know and work toward improving your skills within that niche.
Begin with a list of all the possible services you can provide at the present moment. Which of them are you confident you can perform at a professional level?
3. Define Targets and Pricing
As you develop your handyman business, you’ll have to set aside time to define your target customers and pricing. Your target customers are those clients you could see paying for your services, people you’d enjoy working for. As for pricing, determine the amount which will cover business and lifestyle expenses.
Some handymen average around $100 per hour, but it will depend on a number of different factors. Just choose reasonable prices, but prices you’ll profit from.
4. Purchase the Necessary Assets
Starting any kind of business requires commitment, and you’ll likely need to purchase certain assets. These assets might include tools and specialized equipment, or even service trucks. In choosing the right service truck for your handyman business, your options fall into two categories.
- Service bodies sit on the back of the truck to create an open cargo area with no enclosure.
- Utility bodies have an enclosed compartment which the driver can physically enter if necessary.
Between service and utility bodies, you should make your decision on considerations like the type and size of the equipment you’re using. Utility bodies are better than service bodies if you’re carrying sensitive components and items you need to shelter from the weather. Then again, oversized equipment is easier to manage with service bodies, and open bodies are usually less expensive, which is critical in the early stages of your business.
5. Create Your Marketing Strategy
After you’ve settled issues like legal compliance, services, target customers, pricing and assets, you should start to develop your marketing strategy. Take an afternoon to analyze your target customers’ desires, behaviors and frustrations, crafting your message around what you think would attract them.
It’ll take time to build a profitable client base, of course. Even so, word-of-mouth marketing and referrals cost nothing. More than that, these methods are extremely effective for what you’re planning to accomplish, one of the positives of starting a handyman business.
Start Planning Today
You have a basic outline for starting your business, so don’t delay. Homeowners are in need of your help! Review your state laws and start planning today!